AP
- Bitcoin plunged about 10% after it was revealed that SpaceX sold the cryptocurrency.
- The Wall Street Journal reported that SpaceX wrote down the value of bitcoin it owns by $373 million.
- The recent jump in bond yields to 16-year highs has weighed on risk assets overall, including crypto.
The price of bitcoin plunged about 10% hours after it was revealed that Elon Musk's SpaceX sold the cryptocurrency.
The Wall Street Journal reported on Thursday that SpaceX, which first purchased bitcoin in 2021, wrote down the value of its bitcoin holdings by a total of $373 million in 2021 and 2022 and has sold the crypto.