Only 0.39% of Elon Musk’s $200B loss is due to BTC volatility

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Only 0.39% of Elon Musk’s $200B loss is due to BTC volatility Only 0.39% of Elon Musk’s $200B loss is due to BTC volatility Zeynep Geylan · 4 seconds ago · 1 min read

Musk’s Tesla lost $783 million to Bitcoin volatility in 2022.

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Updated: December 31, 2022 at 3:30 pm

Only 0.39% of Elon Musk’s $200B loss is due to BTC volatility

Cover art/illustration via CryptoSlate

Haru Invest

Elon Musk became the first person ever to lose $200 billion according to Bloomberg News, while Tesla lost $783 million to Bitcoin (BTC) volatility, which corresponds to 0.39% of Musk’s loss.

Musk’s personal fortune was at $340 billion on Nov. 4, 2021, which made him the richest man in the world.  On December 2022, Musk’s wealth fell to $137 billion and he got replaced by LVMH‘s Bernhard Arnault.

Musk’s electric car company Tesla lost 65% of its value in 2022, while Musk sold a significant portion of his assets to be able to purchase Twitter for $40 billion.

Tesla purchased 43,200 BTC for $1.5 billion in February 2022. The amount equates to $716,368,320 with the current BTC price that is lingering around $16,597 at the time of writing. Tesla’s total loss from its BTC investment is $873,631,680, which equates to 0.39% of Musk’s $200 billion loss.

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