Space Exploration Technologies Corp. (NASDAQ:SPCX) held onto all of its Bitcoin (CRYPTO: BTC) during the third quarter, according to the financials released on Tuesday.
SpaceX Becoming a BTC HODLer?
SpaceX reported “digital assets” worth $1.57 billion as of Sept. 30, up 42% from $1.1 billion in the previous quarter. Since the beginning of the year, though, the company has taken $64 million in paper losses on the stash.
SpaceX doesn’t publish a detailed breakdown of its cryptocurrency holdings. Its IPO filing did, however, disclose that the company held 18,712 BTC on its balance sheet.
At BTC’s closing price of $83,553.85 on Sept. 30, the total value was in line with SpaceX’s reported digital asset holdings. On-chain analytics firm Arkham Intelligence also confirmed this.
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Bitcoin in Reserves of World’s Top Tech Firms
This makes SpaceX the seventh-largest corporate Bitcoin holder, ahead of cryptocurrency-native companies such as Coinbase Global Inc. (NASDAQ:COIN), according to BitcoinTreasuries.net.
Tesla Inc. (NASDAQ:TSLA), Elon Musk’s other major company, also holds a large Bitcoin position—11,509 BTC, worth over $950 million, according to on-chain data.
SpaceX reported third-quarter revenue of $14.58 billion, beating a Street consensus estimate of $12.74 billion. The space giant posted third-quarter earnings of 35 cents per share, beating estimates of 12 cents per share.
Price Action: As of this writing, BTC is up 1.10% in the last 24 hours to $82,825.46, according to Benzinga Pro.
SpaceX shares jumped 8.06% in after-hours trading, according to Benzinga Pro. The stock closed 0.11% lower at $147.79 during Tuesday’s regular trading session.
SPCX’s price trend remains weak in the short term but strong across the medium and long terms, according to Benzinga’s Edge Stock Rankings.
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