Bitcoin plunged Thursday night following news that Elon Musk’s SpaceX had sold all of its crypto holdings.
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While other cryptocurrencies such as Ethereum and Dogecoin were also sold, coin base (coin), marathon digital (Mara) and riot platform (Riot) withdrew.
Viewers of SpaceX Documents wall street journal Private space companies are shown to have sold all of their bitcoin after valuing their holdings in 2021 and 2022.
Tesla (TSLA) sold 75% of its bitcoin holdings last year.
Elon Musk has frequently commented on cryptocurrencies, especially Bitcoin and Dogecoin.
Bitcoin price fell to a two-month low of $25,392.05 on Thursday night. Since then, it has rebounded to about $26,600, down 7% from 24 hours ago. Bitcoin had already fallen from about $28,600 to $27,600 on Thursday before the SpaceX news broke as the strong dollar and risk-off trading weighed on cryptocurrencies.
Ethereum fell 6% to $1,686. Dogecoin fell 10% to 6.14 cents.
COIN shares fell 2.2% in late trading, breaking off lows. MARA shares fell 4.4% while RIOT fell 1.2%. Coinbase fell 4.35% in Thursday trading, while Marathon Digital fell 9.3% and RIOT shares fell 10.6%.
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