The second wealthiest man in the world has seen Tesla’s stock fall 20% since investing more than $ 1 billion in Bitcoin.
Tesla’s share price fell for the fourth straight day on Tuesday after a major plunge on Monday wiped out US $ 15 billion (A $ 19 billion) from CEO Elon Musk’s net worth.
The stock price of the electric car maker fell 13% in the initial transaction to $ 619.50 (A $ 782.55), below the price registered in the S & P500 index in December.
This was followed by a 8.5% drop in Tesla shares. CEO Elon Musk’Destined to decline by $ 15.2 billion (A $ 19 billion) on Monday. His net worth is currently $ 183 billion (A $ 231 billion), making him the second richest man in the world after Amazon boss Jeff Bezos. BloombergBillionaire Index..
You may just blame yourself for the mask. Tesla shares were put into tanks after Saturday’s tweet Declaring the prices of Bitcoin and Ether, the two largest cryptocurrencies in the world, are “laughing”, questioning the value of automakers’ $ 1.5 billion (A $ 1.9 billion) investment in the former I am.
Wedbush Securities analyst Daniel Ives said in a research note on Tuesday, “Last month, we bought Bitcoin for $ 1.5 billion and jumped deep into the pool in both good and evil, so the company’s stock is It is closely related to this digital currency. “
A day ago, Ives said that Tesla bought Bitcoin on $ 1 billion ($ 1.3 billion) of paper before Mask posts helped lower the price of digital coins below $ 50,000 ($ 63). Estimated to have posted a profit, 000) early Tuesday morning.
Tesla’s stock has fallen by more than 20% since the Silicon Valley giant announced a blockbuster bet on cryptocurrencies. This is what the mask calls “a form that is less liquid than cash.”
But the millionaire tech tycoon remained rebellious on Tuesday. When market strategist Peter Schiff pointed out on Twitter that Tesla’s stock had entered the bear market since the announcement of Bitcoin, Musk simply replied with an eggplant emoji. This meant that Schiff “basically calls me Dick.”
Tesla also hit after the electric car press on Monday Electrek The company reported that it has stopped ordering the cheapest version of the model YSUV.
Musk said he was checking the news on Twitter and didn’t think “the range still meets Tesla’s criteria for excellence in many driving conditions.” He said the model is still available “out of the menu”.
This story originally appeared New York post Duplicate here with permission