On February 8, the economic balance of the planet changed slightly. That economic change could be seen in Elon Musk’s pocket, the founder of Tesla, who of course now invests to pay off afterwards. This investment, as expected, boosted the market value of this crypto currency. However, this vibration probably had the opposite effect, as the value of the well-known car industry has plummeted by $200 million.
Analysts explain that the decline is due to the fact that the value of Tesla shares is now directly linked to and influenced by the value of Bitcoin, which these past few months has not been stable at all. As a result, many investors are getting rid of Tesla shares because they fear that their value will plummet as soon as the value of Bitcoin falls.
At the moment their estimates are probably justified. After Tesla’s investment and despite the initial rise in the value of Bitcoin, which reached 50%, followed a drop of 7%.
In fact, this stock market domino had another impact, as the founder of Tesla lost the title of the richest man on Earth after 6 weeks. Jeff Bezos did not miss an opportunity and was at the top because it is known that the exploitation of the work of many, in addition to accumulating wealth, also gives such distinctions. So, once again, Jeff Bezos reclaimed his crown as the wealthiest man. And all this at a time when Musk was one of the few people in the world who could rightly claim that 2020 was not such a bad year, as the value of his company shares soared by 704% during the calendar year. It is worth noting that as we speak, Tesla is valued at $620 billion.