Elon Musk Lost $20 Billions After Saturday Night Live

Elon Musk’s recent appearance in the Saturday Night Live show caused a crash of everything. The stocks of his company, Tesla, lost 14%, causing him a $20 billion loss. His words also affected the entire cryptocurrency market, as Bitcoin showed a 8.1% decline after Musk’s announcement about refusing to receive payments in Bitcoins.

The crypto community is enraged. Alex Mashinsky, Celsius network’s CEO, says the crypto industry doesn’t need him at all, blaming him for taking advantage of Bitcoin and then deceiving it. 

Michael Saylor, the CEO of MicroStrategy, backfired on Musk on Twitter, answering that the opportunities Bitcoin offers to people are worth the damage done to an environment. However, his company didn’t hesitate to buy $15 millions worth of Bitcoins using the dip caused by Musk’s words. But there are those who support Musk. Among them is Anthony Scaramucci who believes Musk’s words will help Bitcoin switch to renewable energy sources faster. 

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