{"id":249346,"date":"2021-05-14T05:11:28","date_gmt":"2021-05-14T02:11:28","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/elon-musk-loses-20b-since-snl-as-michael-saylor-comes-out-firing\/"},"modified":"2021-05-14T05:11:28","modified_gmt":"2021-05-14T02:11:28","slug":"elon-musk-loses-20b-since-snl-as-michael-saylor-comes-out-firing","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/elon-musk-loses-20b-since-snl-as-michael-saylor-comes-out-firing\/","title":{"rendered":"# Elon Musk loses $20B since SNL, as Michael Saylor comes out firing"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_84 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a23d4edd43f3\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a23d4edd43f3\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/elon-musk-loses-20b-since-snl-as-michael-saylor-comes-out-firing\/#Michael_Saylor_comes_out_firing\" >Michael Saylor comes out firing<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/buradabiliyorum.com\/en\/elon-musk-loses-20b-since-snl-as-michael-saylor-comes-out-firing\/#Hope_for_the_future\" >Hope for the future?<\/a><\/li><\/ul><\/nav><\/div>\n<p>&#8220;<strong># Elon Musk loses $20B since SNL, as Michael Saylor comes out firing <\/strong>&#8221;<\/p>\n<div class=\"post-content\" data-v-5a136f3a>Elon Musk has reportedly lost $20 billion since his May 8 <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/download-scripts-themes-apps\/\" data-internallinksmanager029f6b8e52c=\"9\" title=\"Download Scripts &amp; Themes &amp; Apps\" target=\"_blank\" rel=\"noopener\">app<\/a>earance on Saturday Night live, as the <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">news<\/a> of Tesla halting BTC payments for cars continues to send shockwaves across markets. <\/p>\n<p>On May 7, the day before Musk made his appearance on SNL, Tesla stock was sitting at $669. In the week since the stock has declined 14% to sit around $573. According to Forbes estimates, this sudden drop has <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.forbes.com\/sites\/sergeiklebnikov\/2021\/05\/13\/elon-musk-is-20-billion-poorer-since-hosting-saturday-night-live\/?sh=7f84d653fcb6\">seen<\/a> Musk\u2019s $166 billion net worth plunge by $20 billion down to around $145.5 billion.<\/p>\n<p>The 14% drop this week adds to an overall downward trend for Tesla stock over the past 30 days. On April 14 TSLA shares were sitting at $784. Today&#8217;s price of $573 marks a 26.91% decrease over this period according to <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.tradingview.com\/symbols\/NASDAQ-TSLA\/\">data<\/a> from Tradingview. <\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2021-05\/52539827-79eb-4fe1-bf58-ea9e5a3ad259.png\"><figcaption style=\"text-align: center;\">Tesla Stock, 1 month chart, Trading View<\/figcaption><\/figure>\n<p>Musk\u2019s escapades aren\u2019t just causing volatility in Tesla stock prices of course, with Bitcoin\u2019s price declining 8.1% from $54,448 when he dropped his BTC payments bombshell on May 13, down to around $50,000 currently, <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.coingecko.com\/en\/coins\/bitcoin\">according<\/a> to Coingecko.<\/p>\n<p>The CEO of digital asset lender Celcius Network, Alex Mashinsky said the crypto industry didn&#8217;t need friends like Musk, <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/finance.yahoo.com\/video\/bitcoin-going-just-fine-without-153033517.html\">telling <\/a>Yahoo Finance that:<\/p>\n<blockquote><p> \u201cBitcoin is up 20,000,000% in the last decade, the best performing asset class over the last decade, and the industry is going to do just fine without Elon.\u201d <\/p><\/blockquote>\n<p>He noted that Tesla made a $300 million profit from selling a portion of its Bitcoin, which dramatically improved its Q1 bottom line. \u201cSo obviously, they use Bitcoin to deliver a very important quarter for them,\u201d he said. \u201cSo you can\u2019t have it both ways. You can\u2019t say Bitcoin\u2019s not good for me. So Bitcoin doesn\u2019t need Tesla.\u201d<\/p>\n<h3><span class=\"ez-toc-section\" id=\"Michael_Saylor_comes_out_firing\"><\/span>Michael Saylor comes out firing<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>MicroStrategy CEO Michael Saylor also came out firing, taking on Musk on <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/social-mediaa\/\" data-internallinksmanager029f6b8e52c=\"1\" title=\"Social Media\" target=\"_blank\" rel=\"noopener\">Twitter<\/a> about the billionaire\u2019s claims Bitcoin is not environmentally friendly.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">The estimated electricity consumption per <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/t.co\/Lj4SMIkLS8\">https:\/\/t.co\/Lj4SMIkLS8<\/a> YTD increased 40% during the same period that the network grew 100% in assets, meaning that energy efficiency dramatically improved during this time period. <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/hashtag\/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw\">#Bitcoin<\/a> is becoming less energy intensive as it scales.<\/p>\n<p>\u2014 Michael Saylor (@michael_saylor) <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/michael_saylor\/status\/1392920275184988161?ref_src=twsrc%5Etfw\">May 13, 2021<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>Musk posted links to articles which referenced \u201cdirty coal\u201d Bitcoin mining operations such as the plant in Xinjiang which was temporarily shut down for safety checks last month \u2014 resulting in a sharp drop in the hash rate of China\u2019s top mining pools. The links also point to the controversial expansion of Greenbridge\u2019s gas-fired Bitcoin plant in New York.  <\/p>\n<p>Saylor <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/michael_saylor\/status\/1392944325995212813\">fired <\/a>back by arguing the cost of Bitcoin was worth it for the benefits:<\/p>\n<blockquote><p>\u201cBitcoin offers 8 billion people a superior <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/technology\/\" data-internallinksmanager029f6b8e52c=\"4\" title=\"Technology\" target=\"_blank\" rel=\"noopener\">technology<\/a> to guarantee their human rights to property, as well as a solution to the global problem of inflation &amp; currency devaluation which creates $10+ trillion in economic damage per year. Isn&#8217;t the fossil fuel mix second order?\u201d<\/p><\/blockquote>\n<p>Saylor might be more upset than most as he was reportedly instrumental in convincing Musk to add $1.5 billion BTC to Tesla&#8217;s balance sheet <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/time.com\/5947722\/microstrategy-ceo-bitcoin\/\">in the first place<\/a>.<\/p>\n<p> MicroStrategy took advantage of the dip caused by Musk\u2019s announcement yesterday to spend another $15 million buying 271 BTC taking its total haul to 91,850 BTC. <\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">MicroStrategy has purchased an additional 271 bitcoins for $15.0 million in cash at an average price of ~$55,387 per <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/hashtag\/bitcoin?src=hash&amp;ref_src=twsrc%5Etfw\">#bitcoin<\/a>.  As of 5\/13\/2021, we <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/hashtag\/hodl?src=hash&amp;ref_src=twsrc%5Etfw\">#hodl<\/a> ~91,850 bitcoins acquired for ~$2.241 billion at an average price of ~24,403 per bitcoin. <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/search?q=%24MSTR&amp;src=ctag&amp;ref_src=twsrc%5Etfw\">$MSTR<\/a><a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/t.co\/EwZnRkAt6k\">https:\/\/t.co\/EwZnRkAt6k<\/a><\/p>\n<p>\u2014 Michael Saylor (@michael_saylor) <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/michael_saylor\/status\/1392814015181635584?ref_src=twsrc%5Etfw\">May 13, 2021<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<h3><span class=\"ez-toc-section\" id=\"Hope_for_the_future\"><\/span>Hope for the future?<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>Not everyone saw Musk\u2019s actions in a negative light. The CEO of investment firm Skybridge Capital, Anthony Scaramucci suggested that this was part of Musk\u2019s plan to help clean up Bitcoin mining by encouraging it to move to 100% renewables.<\/p>\n<blockquote><p>\u201cElon\u2019s goal: level set the Bitcoin community and focus policymakers on the urgency for clean energy mining. The path to $1 million BTC and hyper-bitcoinization demands renewable mining. Elon will contribute mightily in this regard. He\u2019s HODLing.\u201d<\/p><\/blockquote>\n<p>He wagered 500,000 Satoshis that Musk would enter the \u201csuper clean\u201d Bitcoin mining market. <\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">Elon is not a half measures guy.  I predict he will become a competitor\/disruptor in the Bitcoin mining industry.  I wager 500k sats that, within a year, Tesla\/Solar City will announces its entry into \u201csuper clean\u201d bitcoin mining.<\/p>\n<p>\u2014 Anthony Scaramucci (@Scaramucci) <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/Scaramucci\/status\/1392768178313482241?ref_src=twsrc%5Etfw\">May 13, 2021<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><template data-name=\"subscription_form\" data-type=\"markets_outlook\"><\/template><\/div>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong>\n<\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more News articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/general\/\" target=\"_blank\" rel=\"noopener\">General category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/cointelegraph.com\/news\/elon-musk-loses-20b-since-snl-as-michael-saylor-comes-out-firing\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8220;# Elon Musk loses $20B since SNL, as Michael Saylor comes out firing &#8221; Elon Musk has reportedly lost $20 billion since his May 8 appearance on Saturday Night live, as the news of Tesla halting BTC payments for cars continues to send shockwaves across markets. On May 7, the day before Musk made his&#8230;<\/p>\n","protected":false},"author":1,"featured_media":249347,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.cointelegraph.com\/images\/1200_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjEtMDUvMGVhNDVhY2MtNmM2Ny00NmI4LTlmZTQtYTllMDNkMTYwMjJlLmpwZw==.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[74989,117,39394,36402],"class_list":["post-249346","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-bitcoin-mining","tag-business","tag-elon-musk","tag-tesla"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/249346","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=249346"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/249346\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/249347"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=249346"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=249346"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=249346"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}