xAI "Swallows" Profits: Why Does Bitcoin Still Survive on SpaceX's Balance Sheet?
The year 2025 recorded record revenue of $18.5 billion for SpaceX, but profits evaporated completely, turning into a $5 billion loss due to the cost of integrating the xAI startup. A question arises: Why didn't SpaceX liquidate $603 million in Bitcoin to ease the debt burden or interest expenses? #Colecolen
On-chain analysis shows that SpaceX maintains an incredibly strict holding discipline. These Bitcoin holdings have been virtually "frozen" at Coinbase Prime since mid-2024. This is a testament to corporate-level "Diamond Hands." Instead of using Bitcoin as working capital, SpaceX views it as the ultimate reserve asset. The capital burn of xAI is a strategic investment in the core technology of the future, and Elon Musk appears to believe that Bitcoin is also an inseparable part of that future. This persistence solidifies Bitcoin's status as a leading global "corporate reserve currency." However, Musk's capital concentration in risky projects always harbors variables that retail investors should observe cautiously. (DYOR) $BTC
