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[YesAuto New Energy] US stocks closed on Tuesday (early morning on February 24, Beijing time), Tesla reported $698.84 per share, a drop of 2.19%, the largest intraday drop of more than 13%. After experiencing Monday's sharp drop of 8.55%, Tesla's total market value has shrunk by about $80 billion in the past two days. Correspondingly, Tesla founder Elon Musk’s worth has shrunk by more than about 20 billion U.S. dollars, with a total worth of 177.2 billion U.S. dollars, ranking among the world’s richest man, Amazon founder Jeff Bezos (worth 184.6 billion U.S. dollars). )after that.

Some analysts believe that the decline in Tesla's stock price may be related to its investment in Bitcoin. On February 8th of this year (2021), Tesla stated in a document submitted to the US Securities and Exchange Commission (SEC) that the company has purchased $1.5 billion worth of bitcoins for the purpose of further diversification. And maximize the company's cash return.

Previously, Tesla made a monthly profit of 1 billion U.S. dollars by investing in Bitcoin. Its profit has exceeded the company's profit from selling cars in 2020. However, the high volatility of Bitcoin also makes Tesla face further risks Intensify. Some analysts believe that after Tesla invested in Bitcoin, its stock price is also linked to it, and the price of Bitcoin has continued to fall recently, which has affected Tesla's stock price. Do you think Tesla’s stock price will continue to fall? You might as well discuss it in the comment section.