SpaceX Holds $1.5 Billion in Bitcoin. Does That Make the Coin a Buy?

When SpaceX filed its S-1 with the Securities and Exchange Commission to pave the way for its planned June 12 initial public offering (IPO), the company disclosed 18,712 Bitcoins (CRYPTO: BTC) on its balance sheet, held at a profit. That's more than double what blockchain trackers had estimated previously, and it's enough to rank SpaceX as the seventh-biggest holder among the public companies holding Bitcoin.A company targeting a valuation north of $1.8 trillion with its IPO doesn't need Bitcoin for survival. So the fact that it held the asset for five years without selling says something about how this major enterprise views the coin. But does one more corporate whale make the coin worth buying?Image source: Getty Images.Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool