Tesla's company shares declined by 8.6% on Monday. The result was an astounding $ 15.2 billion in losses. This is the biggest decline the company has recorded since last September, when the stock market lost a third of its value, causing Tesla to fall by 21.1%.
During the last check, all the shares of Tesla still remain in the "red zone", since the stock market bears continue to pull its shares down. It is assumed that this decline was partly caused by the billionaire's recent responses about the too high cost of Bitcoin and Ethereum. However, Musk's previous tweets about Bitcoin suggest that he will be in business and has everything under control. Thus, he is expected to continue to strengthen his commitment to Bitcoin despite the downward trend in the market.
At the time of publication, Musk has not yet made an official statement about the recent events. But when Peter Schiff, a gold supporter, hinted that Musk's decision to focus on Bitcoin was a poor investment choice, Musk responded with a dismissive emoji.
However, the recent drop in the price of Tesla shares cost Musk to lose his position as the richest man in the world and give the title to Jeff Bezos, who has held this position since 2018. Meanwhile, the Bitcoin rally means that changes in the market are inevitable and that Elon Musk could easily take that position again in an instant.
Satoshi Nakamoto can also undoubtedly claim the position of both billionaires if Bitcoin continues to gain momentum.
Bitcoin's price of about $ 50,000 puts Satoshi Nakamoto on the 27th place in the list of the richest people on the planet with an estimated fortune of $ 50 billion. Therefore if this price quadrupled, it will make the anonymous bitcoin creator the richest person in the world.
The material has been provided by InstaForex Company - www.instaforex.com