SpaceX’s $600 billion plunge erased equivalent of nearly half of bitcoin’s market cap in 3 days
CoinDesk·
60-second summary
SpaceX's $600 billion market value plunge in three sessions has erased nearly half of bitcoin's market capitalization, a staggering equivalent of $350 billion. This massive decline is a result of the company's first bond sale announcement. Bitcoin, however, has absorbed this backdrop, falling less than 1%, indicating a relatively stable cryptocurrency market.
The newly public company shed close to half of bitcoin's entire market value in three sessions after announcing its first bond sale. Bitcoin, absorbing the same backdrop, fell less than 1%.