When Bitcoin plummeted, Tesla’s stock price plummeted close to 9% (complementary)

Tesla stock price trend-Yahoo Finance capture

On the 22nd (local time), when Bitcoin, a representative cryptocurrency (virtual currency), plummeted, Tesla’s stock price plunged nearly 9%.

This is analyzed because Tesla announced on the 8th that it purchased $1.5 billion worth of Bitcoin.

On this day, Tesla’s stock price fell 8.55% from the previous trading day to $714.50 on the New York Stock Exchange. This is the biggest drop since September 23, 2020, when it fell 10.35%.

Tesla announced on the 8th that it had bought $1.5 billion worth of Bitcoin. However, on that day, Bitcoin plunged as CEO Elon Musk said “Bitcoin and Ethereum are expensive.”

Elon Musk, founder of Tesla, is holding a press conference on SpaceX on the 9th. © Reuters = News1 © News1 Reporter Park Hyung-ki

According to CoinMarketCap of the United States, which broadcasts the cryptocurrency market, as of 6 a.m. on the 23rd (Korean time), Bitcoin is recording $53,31, a sharp drop of 7% from 24 hours ago.

Earlier, Bitcoin plunged 17% around 1 am on this day, threatening the 50,000 dollar mark. The previous day, Bitcoin rally exceeded 58,000 dollars.

As bitcoin plummeted, Tesla’s stock price, which invested $1.5 billion in bitcoin, also plummeted.

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