Elon Musk Loses Over $20 Billion After Canceling Bitcoin Payment Mode
The world second richest man; Elon Musk’s net worth has reportedly taken a massive hit following his appearance on Saturday Night Live. During the show, the Tesla CEO joked that Dogecoin is a "hustle," resulting in a 35% drop in its value and subsequently announced that his company; Tesla wouldn't be accepting bitcoin as a payment mode.
He writes then that “Tesla has suspended vehicle purchases using Bitcoin," Musk said. "We are concerned about rapidly increasing use of fossil fuels for Bitcoin mining and transactions
And a sequel to the decision by Musk, Tesla shares have now fallen 15% in value over the last week.
All-in-all, Forbes reports that Musk's losses from this week total $20 billion.
Grimes, who is dating Musk and also appeared on the SNL episode, was hospitalized after the show, having suffered a panic attack.
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