Summary
One steep slide erased roughly a fifth of the firm’s share price and eliminated its $1 trillion market cap.
Elon Musk’s open confrontation with Donald Trump over the proposed government spending bill set off a panic among investors.
Samson Mow calls on Musk to embrace a Bitcoin playbook, establishing Bitcoin treasury reserves and permitting both Tesla and SpaceX operations to receive BTC payments.
Twitter CEO Jack Dorsey and XRP attorney John Deaton are in support of Mow’s suggestion to “doubling down” on Bitcoin.
Musk is under immense pressure, and his coming decision could rattle Wall Street and the cryptocurrency world alike.
Tesla Takes a Tumble: Here’s What Happened
Tesla’s shares closed at $284.68, recording their poorest one-day slide since March 10. In just one day, the stock declined more than 14%, chopping Tesla’s market capitalization from over $1 trillion to $915.74 billion.
And the fall did not abate there. After-hours trading slumped by an extra 2%, ushering in even greater volatility.
Musk did not pull back. Via a string of posts on X (formerly Twitter), he assailed the bill and even urged Trump’s impeachment, sending investors into a panic and triggering a sell-off.
Samson Mow Puts Bitcoin on Tesla CEO Elon Musk’s Agenda
In the turmoil, Bitcoin advocate Samson Mow weighed in with a daring suggestion: to stem political and economic volatility, Musk should adopt Bitcoin as his shield.
Here is the plan that Mow puts forward:
- Tesla ought to restart the acceptance of Bitcoin payments.
- SpaceX might extend launch discounts for customers who choose to pay in Bitcoin.
- A Bitcoin Treasury strategy ought to be instituted to hedge against inflationary pressures and fiat exposures.
Mow cautions that intensified political pressure could “freeze” Musk’s fiat holdings, rendering Bitcoin an invaluable vehicle for financial autonomy and protection.
“This is not financial advice. This is freedom advice,” said Mow on X.
The Crypto Industry Has Lined Up Behind Mow
Mow is certainly not alone.
XRP attorney John Deaton predicted that Tesla could purchase more Bitcoin and increase its current inventory of more than 11,000 coins.
The vibes are unmistakable: the crypto community urges Musk to return to Bitcoin and make a definitive public declaration.
The Importance
Tesla’s share price is coming under mounting pressure. Investor confidence has been questioned. Musk sits at the eye of the storm. Now is the ideal time for a strategic financial pivot.
If Musk heeds Mow’s counsel or goes a different route, the end result is clear: his ultimate move will affect both mainstream finance and the crypto sphere alike.
What’s Next?
Whatever Musk does will command worldwide attention.
Will he lay the whole chip on Bitcoin and batter the vulnerabilities of fiat?
Will he dig in his heels and ride out the political storm?
No matter which way things proceed, be prepared for reverberations throughout Wall Street and the crypto scene alike.