[서울신문] Elon Musk on Twitter “Excession”… Aiming for Bitcoin? (Total)

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▲ Elon Musk, Tesla CEO
Reuters Yonhap News

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Elon Musk, Tesla’s CEO, left the word’Excession’ on his Twitter on the 23rd (local time), attracting attention.

‘excession’ means’excession, excessive’, and the interpretation of the meaning of Musk’s posting is divided.

First, it is interpreted that Tesla’s stock price plunged 8.6% from the previous day in the New York Stock Market on the 22nd was evaluated as an’excessive decline’.

As the 10-year U.S. Treasury bond rate soared to the 1.35% level, the highest since February last year, the impact of large-scale IT was large. When government bond yields surge, high-growth companies that relied on easy loans are particularly hit hard, and the attractiveness of stock investments is relatively reduced.

However, in the case of Tesla, it was pointed out that Elon Musk’s’mouth’ caused the stock price to decline by itself.

Musk’s CEO tweeted that “the price of bitcoin looks high” on the weekend, which led to a plunge in the bitcoin price that day, and Tesla’s stock price, which invested $1.5 billion in bitcoin last month, is analyzed.

In addition, there is an interpretation that Musk’s CEO expressed the view that the price of bitcoin, which has recently skyrocketed, is too high.

Musk said on the 20th that “the price seems to be high” regarding Bitcoin.

Bitcoin has soared 350% over the past six months as investors have been rushing to buy, and it has risen 64% only in February.

On the 19th, the market cap exceeded $1 trillion for the first time.