I just noticed that SpaceX's Bitcoin holdings have dropped significantly. Back in December, their 8,285 BTC were worth around $780 million, now it's only $545 million. SpaceX is a company that has held Bitcoin for years without needing to be transparent to the public investors. But now they’re planning an IPO, so all their positions will be revealed.

This is very interesting to monitor. Tesla experienced a similar issue—paper losses of millions of dollars from Bitcoin made headlines repeatedly even though they didn’t buy or sell. SpaceX might face the same situation later. But the difference is, SpaceX is a major player with hundreds of billions in revenue, so paper Bitcoin losses might not significantly impact their core business.
The most interesting part: SpaceX has never traded their Bitcoin. They just hold since the beginning, regardless of rallies or crashes. This is very different from Tesla, which tends to buy and sell. So SpaceX’s strategy is purely HODL, waiting for better times maybe.