Fundstrat's Tom Lee explains why he's doubling down on bitcoin after Elon Musk's surprising reversal - and increasing his price target to $125000

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Business Insider 16 May, 2021 - 08:12am 21 views

Who is Elon Musk?

Elon Musk is a South African-born American industrial engineer, entrepreneur, who co-founded Paypal and founded aerospace transportation services company SpaceX. He is also one of the early investors in Tesla, an electric car company, and now the Chief Executive Officer of the firm as well. Business StandardWho is Elon Musk: Latest News on Elon Musk, Top News, Photos, Videos, Age

Does Tesla accept Bitcoin?

What cryptocurrency does Tesla accept? For now, Tesla only accepts Bitcoin — not Bitcoin fork products (like Bitcoin Cash and Bitcoin SV) or any other types of digital assets. (Our wallet will not receive or even detect any other digital assets.) tesla.combuy from Tesla with Bitcoin

Elon Musk's net worth dropped $20 billion following 'SNL' performance

NME 15 May, 2021 - 03:33am

New figures estimate that Elon Musk’s net worth has dropped by $20 billion dollars (£14bn) in the week since he hosted Saturday Night Live.

The Tesla and SpaceX CEO was the latest guest host of the long-running live variety show last Saturday (May 8), with Grimes appearing in one of the sketches as Princess Peach.

Following the performance, it was revealed that Musk’s appearance on SNL had a noticeable impact on the price of the cryptocurrency dogecoin, which the entrepeneur has vocally endorsed in recent months.

Now, it’s been revealed by Forbes that shares of Tesla have fallen more than 15% so far this week, with Musk’s net worth dropping by $20.5 billion to around $145.5 billion, leaving him as the third richest man on the planet.

Following Musk’s performance, his partner Grimes shared her admiration for his hosting duties, writing: “So proud of my beautiful E (which I know will upset the Grimes fans so I apologise in advance) but he killed it.” Grimes also made a surprise appearance as Princess Peach during a sketch on the show.

During Musk’s opening monologue, the mogul revealed he has been diagnosed with Asperger’s. I’m actually…the first person with Asperger’s to host SNL – or at least the first to admit it,” Musk said, despite former SNL cast member Dan Aykroyd hosting the show in 2003 while admitting to having mild Asperger’s.

“So I won’t make a lot of eye contact with the cast tonight. But don’t worry, I’m pretty good at running ‘human’ in emulation mode.”

Elsewhere, Musk presented his vision for the future, saying: “I believe in a renewable energy future. I believe that humanity must become a multiplanetary, space-bearing civilisation. Those seem like exciting goals, don’t they?”

Musk’s duty as host of last week’s episode was met with criticism by both SNL cast members and many on social media.

Ahead of the episode, the show’s teaser saw Musk labelling himself a “wild card” and promised that “there’s no telling what [he] might do” during the episode.

According to Page SixSNL boss Lorne Michaels allowed cast members who are uncomfortable with Musk’s booking as host to sit out their usual duties of appearing alongside the episode’s host in sketches, though none appeared to back out of the show as a result.

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