(Investors Business Daily) – On hearing that Elon Musk’s SpaceX has sold all of its bitcoin assets, the price of bitcoin fell on Thursday night.
Along with Bitcoin-related equities like Coinbase (COIN), Marathon Digital (MARA), and Riot Platforms (RIOT), other cryptocurrencies like Ethereum and Dogecoin also saw declines.
The Wall Street Journal obtained documents from SpaceX that suggest the private space business has sold all of its Bitcoin after devaluing its holdings in 2021 and 2022.
Last year, Tesla (TSLA) sold 75% of its Bitcoin holdings.
Frequently, Elon Musk has made remarks about cryptocurrencies, particularly Bitcoin and Dogecoin.
On Thursday evening, the price of one bitcoin dropped to $25,392.05—a two-month low. It is currently trading around $26,400, down 7.8% from the previous day. Before the SpaceX news broke, Bitcoin had already dropped from roughly $28,600 to $27,600 due to the strong dollar and risk-off trade.
The price of ether fell 6.7% to $1,676. To reach 6.17 cents, Dogecoin dropped 10.1%.
Coming off lows, COIN shares fell 2.2% in late trading. While RIOT declined 1.2%, MARA stock declined 4.4%. Coinbase lost 4.35 percent on Thursday, Marathon Digital lost 9.3 percent, and RIOT shares lost 10.6 percent.
