Aerospace technology company SpaceX has reportedly written down the value of its bitcoin holdings by a combined $373 million in the last year and the year before, and may have sold all of its bitcoin holdings, according to reports.

According to a Wall Street Journal report on August 17, SpaceX recorded In 2021 and 2022, it holds $373 million worth of Bitcoin (BTC) on its balance sheet and has reportedly sold the cryptocurrency.

It has not been confirmed whether the entire collection, valued at $373 million, has been sold.

According to the Wall Street Journal, “Last year and 2021, SpaceX wrote down a total of $373 million in the value of its bitcoin holdings and sold the cryptocurrency.”

The news outlet reportedly reviewed the company’s financial documents, which showed total spending of about $5.2 billion in 2022, and $5.4 billion in 2021 and 2022 to acquire property and equipment, excluding research and development costs.

SpaceX CEO Elon Musk (Elon Musk) publicly announced in 2021 that the company has acquired a certain amount of Bitcoin. Earlier, a document filed by the US Securities and Exchange Commission showed that Tesla, another company co-founded by Musk, planned to buy $1.5 billion worth of encrypted assets. The news could lead to a new all-time high in BTC prices above $43,000.

According to Tesla’s second-quarter 2023 earnings report, the company has sold $184 million worth of bitcoin it held, leaving only $184 million worth of it. Tesla reported that it had liquidated more than 30,000 bitcoins worth $936 million in the second quarter of 2022, roughly 75% of its original $1.5 billion bitcoin holdings.

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Musk, one of the world’s wealthiest men, frequently commented on certain cryptocurrencies on social media, including Dogecoin (DOGE) and Bitcoin, even briefly changing Twitter’s then-blue bird logo to DOGE Shiba Inu. Since its $44 billion acquisition of Twitter (later renamed X) in October 2022, he said the platform could offer “the entire financial world,” including banking and payment services.

The timing of the reported Bitcoin sale by SpaceX is unclear, but the cryptocurrency market experiences a severe crash in 2022 due to the collapse of major companies including Terraform Labs. Many technology companies and financial institutions continue to hold bitcoin and other cryptocurrencies.

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Update (11:03 PM UTC, Aug. 17): This article has been updated to reflect that it has not been confirmed whether all of the Bitcoin held by SpaceX has been sold, or only some.