One is to hit the ax on your foot and one is to jump in the ax field by splashing it. In this ‘skill’, Elon Musk specializes in the American businessman and the world’s richest man. He first invests heavily in a company, then tweets about him that he himself incurs losses of millions of dollars. Bitcoin has become the victim of this special ‘skill’ of Elon Musk. Let us know what the whole matter is.
First of all know who is Elon Musk?
Elon Musk is the co-founder of the American car company Tesla. He also manufactures batteries in the energy sector. Yo they have some old acquaintance. Talking about a new introduction, he is a businessman who has an eye on the future. He is working on some big futuristic projects of the world, which have the power to change the world. For instance,
# 1 Hyper Loop – Fastest train, twice the speed of bullet train
# 2 Smart Car – No Driver, Battery Operated
# 3 Space X – Project to turn a tourist to the moon, starting 2023
After all, Elon Musk’s ultimate wish is that he can establish human settlements on Mars. Currently, his name is considered to be among the richest people in the world. A few days ago Elon Musk became the richest person in the world. Currently, competition is going on between him and Amazon owner Jeff Bezos to become the richest.
And then came his tweet
In the midst of ever-increasing wealth, Elon Musk continues to make friends on Twitter. He has found these times very expensive. That means true-mucci is expensive. In fact, he recently made a huge investment of about 150 million dollars in bitcoin through Tesla company. Elon Musk believes that possessing bitcoins is slightly better than keeping cash. He had to say, that the price of one bitcoin touched 58 thousand dollars from 50 thousand dollars. You will say what a problem this bitcoin is. So understand that this is a cyber currency, which no one has seen, but its price is increasing rapidly. If you want to understand the entire level of cryptocurrency, then click here and read it.
Well we come back to Musk’s tweet. But a few days later, in a tweet on 20 February, he called cryptocurrency named Bitcoin and Ether as costly. Now what was it that people felt that there is something wrong, so those who put money in it were reduced. Now if such a big investor said anything about bitcoin, then it had to be affected. The price of bitcoin fell sharply and fell from $ 58,000 to $ 50,000. Elon Musk was hit by $ 1500 million due to this fall. Shares of his company Tesla also fell 8.5 percent.
The effect of these tweets was that Tesla shares went up sharply. Tesla’s shares on August 6 were $ 340. Tesla (or its owner) said on August 7 that we would buy back the stock for $ 420 per share. And those who do not sell their shares will benefit even more.
It was considered a wrong practice according to the rules and regulations of the stock market. The owner of any company and such a large shareholder cannot give any information about the company by tweeting in such light. This can have a bad effect on the company and the people putting money in it. The tweet caused a lot of ruckus within the company and the matter reached regulatory agencies. Strict steps were taken. His result was that.
# Tesla shares fell 30%.
# Institution like SEBI (Police of our stock market) of America. The SEC (US Securities and Exchange Commission – Securities and Exchange Commission) imposed penalties and penalties on Musk.
# These fines and penalties resulted from Musk’s consent. So that the SEC does not go to court against Musk.
# Punishment – Musk will not be the chairman of Tesla for at least 3 years.
# Fine – How much $ 20 million on Musk, 20 million on Tesla. 3 billion rupees according to our rupee approx.
Now you must have also agreed that once a person who has been punished so much, tweets ant-shunt again, he will be called as the one who jumped into the ax field.