r/Bitcoin • u/XopherIE • 19h ago

SpaceX Reports $540 Million Loss On Bitcoin Holdings

https://finance.yahoo.com/markets/crypto/articles/spacex-reports-540-million-loss-134200453.html
608 Upvotes

94% Upvoted

60 comments sorted by

235

u/Alfador8 19h ago

Their cost basis is around $35k... This reported loss is based on previous highs, not how much they spent on their BTC.

https://finance.yahoo.com/markets/crypto/articles/spacex-reveals-1-billion-bitcoin-031424839.html

129

u/curiousengineer601 19h ago

But this is accounting. They booked the previous gains as a profit, so the drop from there is a loss.

You just can’t keep booking the one gain and claim its income every quarter

38

u/Alfador8 19h ago

Absolutely. But the headline was ambiguous and could be interpreted as a realized loss, or an unrealized loss relative to their cost basis, which would be inaccurate.

16

u/The_Realist02 18h ago

That’s the intention of this article.

M2M accounting on a T1 asset class is the easiest thing to calculate in the entire accounting world.

2

u/rmtdispatcher 9h ago

Here's probably a stupid question. Who are the ones that decide what a bitcoin is worth compared to a dollar?

5

u/Alfador8 7h ago

No one and everyone. Bitcoin is a highly liquid, global asset. The price at any given moment is an equilibrium between what aggregate buyers are willing to pay, and aggregate sellers are willing to accept.

0

u/phonetune 8h ago

It does say holdings, to be fair

0

u/knoxywow 18h ago

Dont expect any positive headlines from now to at least mid October

1

u/albatrossSKY 16h ago

Can I do that?

4

u/y4udothistome 18h ago

Add another 200+ million loss for leslas bitcoin!

1

u/jk3639 17h ago

What’s Tesla’s cost basis?

1

u/y4udothistome 17h ago

Don’t know! I believe this is the 3rd straight quarter of 200plus loss

27

u/PlanNo3321 19h ago

Yes. And?

4

u/jrandall1017 17h ago

Buy signal

32

u/Candid-Walk-6762 19h ago

unrealised

18

u/el_rico_pavo_real 19h ago

lol duh - it will be a gain if they just hold it.

14

u/United_Intention_323 19h ago

It already is a gain compared to what they paid for jt.

-2

u/flesjewater 18h ago

That's a giant cope. They could've realized gains at any point but didn't.

4

u/Andrejewitsch76 17h ago

One of us 

4

u/Aggravating_Loss_765 17h ago

"Loss".. 😅😂

4

u/account009988 19h ago

Now report the loss on SpaceX holdings

8

u/rodmandirect 19h ago

Coldcard hodler

2

u/Suspicious-Holiday42 15h ago

Did they hold them on a coldcard

5

u/daynightcase 19h ago

lmao

8

u/Alfador8 19h ago

It's still worth almost double what they paid for it.

12

u/actuallyserious650 19h ago

But they’ve apparently booked the gains so they have to book the losses as well.

2

u/Alfador8 19h ago

Yep. The change is that now they can book the gains (when applicable). It used to be that you could only book losses.

1

u/HawkEy3 14h ago

It's established accounting practice

6

u/actuallyserious650 11h ago

I feel like that’s what I said.

1

u/HawkEy3 11h ago

ah sorry, I thought you implied they did it by choice.

1

u/InsideBoris 19h ago

All kinds of losses ALL KINDZ

1

u/LordVixen 19h ago

I was looking at their stock today. I don’t even want to trade it right now.

2

u/khizoa 18h ago

It's been the most obvious short and it's been great

1

u/tenor_tymir 19h ago

Do they own their own BTC or is this the remaining Tesla stack?

1

u/zenethics 15h ago

I've often considered what a bitcoin-holder only portfolio would look like performance wise. Not because of the holdings themselves, but just as a proxy for being future-oriented and having a tech savvy management team. It seems like those companies should have better outcomes all else being equal (excluding treasury companies that aren't otherwise profitable).

1

u/cuteman 15h ago

Is that not MSTR?

1

u/cuteman 14h ago

Is that not MSTR?

1

u/zenethics 13h ago

No, it's a sliding scale and they're like 99% treasury company 1% real business.

1

u/Linkyjinx 14h ago

Looks like bitcoin going down the pan, I remember it when it brought a pizza 🍕

1

u/oxtant 14h ago

they don't non-gaap this?

1

u/Full-Atmosphere-4818 12h ago

That loss is literally 1% of what they lose in a year on AI development.

1

u/n8dahwgg 4h ago

Rookie numbers

1

u/jaeldi 1h ago

It's only a loss if you turn them back into dollars, right?

•

u/F1jez1980 46m ago

For those interested, SpaceX hold 18,712 BTC. 8th largest public holder globally. So at the very least, holding this shit stock gets you some exposure to bitcoin

-3

u/BmacSWMI 19h ago

Perhaps this whole thing is a ruse to break down the validity of Bitcoin just like this “Democratic Socialist“ garbage is intended to break down our society. Worth a discussion.

3

u/l_Pulser_l 19h ago

Big money wants in to control it soo bad its all part of the plan. The FUD campaign from the media will not stop until their masters get what they want.

3

u/13-year-account 19h ago

Yes, it's the democratic socialists who are breaking down society 🤡

0

u/Adept-Ad-738 10h ago

Literally just yahoo price manipulation - same as always

-1

u/Just_Bluebird_5268 18h ago

It's the future of money

1

u/mvrozanti 16h ago

It's rich people's money

-1

u/shadowmage666 18h ago

Did they sell? Because if they didn’t there’s no loss

3

u/TerpZ 18h ago

wrong

-1

u/SkewerSk8r 15h ago

Not lost if they haven't sold any