In 2018, Musk stepped down from his role of chairman of Tesla. The CEO of SpaceX, the Boring Company, Neuralink, and TSLA was obliged to step down following a settlement with the Securities and Exchange Commission. The SEC alleged Musk of sharing “false and misleading statements” on Twitter about taking TSLA private.
Bitcoin hits $60,000 — more money to TSLA
In February, TSLA disclosed that it had bought $1.5 billion worth of Bitcoin (BTC). The electric-car manufacturer bought the cryptocurrency when it was trading around $33,000. Few days following TSLA’s investment, the price of the Bitcoin reached new all-time highs to $58,000 before it plunged back to $45,000 due to a severe correction.
Nevertheless, on Saturday, Bitcoin blasted above $60,000 for the first time in history, turning TSLA investment in billions of dollars. The digital token is up 107% year to date and 1000% over the past year.
TSLA stock is trading at $705 a share as of this writing, and the company’s market capitalization is $676 billion — $124 billion down from its all-time high of $800 billion.
