How Elon Musk lost 15 billion dollars in a single day

News - Feb 25, 2021

The ‘Tesla’ owner, Elon Musk, lost more than USD 15 bn in a single day because the bitcoin value dropped and significantly reduced his wealth, news agencies report.

Only several days ago, on February 16, the bitcoin value leapt to the record-high USD 50,000. Before this dive, its value rose by 72% since the beginning of 2021.

A surge and popularity of bitcoin are also a result of growing demand among large investors, many of whom saying that they would start accepting it as a means of payment.

As a result, Musk is no longer the wealthiest man in the world, Bloomberg estimates.

‘Tesla’ shares dropped by more than 20% after the collapse of bitcoin, which now stands at USD 45,000 (RSD 4,751,354.94).



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