Elon Musk's SpaceX Has a Reason, BTC Falls to $25,000!

<p>&nbsp;"Why does Elon Musk's company suddenly want to sell BTC?"</p><p><br /></p><p>The price of cryptocurrency king Bitcoin (BTC) plummeted to $25,200 as Elon Musk's space exploration company SpaceX reportedly sold $373 million in BTC it earned from 2021 to 2022.</p><p><br /></p><p>Documents show that SpaceX's total spending in 2022 will be $5.2 billion then spend $5.4 billion in 2021, where the company has acquired property, equipment, research and development in 2022.</p><p><br /></p><p>There is no denying that the Chief Executive Officer (CEO) of SpaceX Elon Musk in 2021 publicly announced that he had acquired a large amount of BTC, but unfortunately he did not disclose the amount of his holdings.</p><p><br /></p><p><br /></p><p>In the same year, a filing from the Securities and Exchange Commission (SEC) revealed that Tesla, a company also founded by Musk, had plans to buy digital assets worth $1.5 billion.</p><p><br /></p><p>Following such announcements, the price of BTC managed to jump to an all-time high above $43,000.</p><p><br /></p><p>However, the price of BTC seems to be slipping far when Musk is rumored to be selling some BTC but it should be known that Ethereum (ETH) including other digital assets are also affected following his actions.</p><p><br /></p><p>According to a well-known crypto analyst, the fall of BTC is for the price to go higher as the price of the digital asset is still in bullish momentum and he also revealed that the event was the biggest sell-off since the fall of FTX.</p><p><br /></p><p>As of this writing, the price of BTC is down 6.91% at $26,608 in the last 24 hours with a market cap of $517 billion and a further 9.56% decline over the last week.</p>