Bitcoin experiences biggest daily drop in its history as Tesla stocks fall 25%

After Jeff Bezos overtook him in the battle to become the world’s richest man, things have got worse for Elon Musk as Tesla’s stocks decreased 10% with an 8.5% dip over the previous session.

The electric car company’s stock value fell to $673 [€552] during pre-market agreements with a notable 25% decline from its recent peak whilst going above the 20% bear market threshold. Since Hypebeast’s article, Tesla’s share price slowly increased back up to $698 [€573].

Bitcoin, which Elon Musk and his automaker empire have invested a colossal $1.5 billion [€1.23 billion] into, has also been impacted, dropping from $58,354 [€47,920] to $45,000 [€36,954] since Friday to Tuesday.

The cryptocurrency also lost $10,000 [€8,212] in 19 hours yesterday, cementing its greatest dip in its history.

Source: Hypebeast