Here's what SpaceX's IPO means for its $1.3 billion bitcoin reserve
CoinDesk·
60-second summary
SpaceX's IPO has made it the largest company on public markets to hold a $1.3 billion bitcoin reserve as a treasury asset, not a business model. This move will test which corporate crypto strategy survives a bear market, with its first earnings cycles likely to provide crucial insights into the viability of this approach in a downturn.
The largest company on public markets now holds bitcoin as a treasury reserve, not as a business model. Its first earnings cycles will test which version of corporate crypto survives a bear market.