Ether and Dogecoin also slid and the rush to sell caused brief outages at some cryptocurrency exchanges.
“We’re Back To The Excesses Of The Gilded Age…And Elon Musk Is A Modern-Day Robber Baron”-Robert Reich
“His net worth quadrupled during the four months Tesla forced all workers to take a ten percent pay cut,” Reich pointed out.
Dogecoin’s rally began after a series of somewhat cryptic, tweets from Tesla Inc. TSLA, -1.31% and SpaceX Chief Executive Elon Musk. #dogecoin
“Tesla sold 10% of its holdings essentially to prove liquidity of Bitcoin as an alternative to holding cash on balance sheet.” -Elon Musk
In May 2018, Mr. Musk posted his tweet, which included the clause, “why pay union dues & give up stock options for nothing?”
A whole decade ago, grid regulations warned Texas that its power plants wouldn’t be able to survive plunging temperatures.
The announcements, buried deep in Tesla’s 2020 annual report, drove a roughly 20% surge in the world’s most widely held cryptocurrency.