Dave Portnoy Accuses Elon Musk of Tanking Crypto Market, Tells Him to ‘Shut Up’ in Fiery Rant: ‘We’re in This Mess Because of You’
Barstool Sports CEO Dave Portnoy took aim at Elon Musk in a Wednesday rant posted on Twitter, saying he created a “mess” in the cryptocurrency market.
“Elon now says they’re holding bitcoin — Elon can go f*ck himself, to be totally honest,” Portnoy said. “Back and forth, back and forth … shut up, Elon. We’re in this mess because of you to begin with. And the thing about him — he has more money than God.”
Musk, the founder and CEO of SpaceX and Tesla, said Wednesday that Tesla was still holding bitcoin. That was after he issued a May 12 statement saying Tesla would not accept bitcoin due to its production allegedly coming “at great cost to the environment.” He announced in early February the company would begin accepting bitcoin, and that it had already bought 38,300 units valued at $1.5 billion. The price of bitcoin and other cryptocurrencies shifted shortly after each of Musk’s announcements
Davey Day Trader at the Closing Bell presented by @Blockfolio – May 19, 2021 https://t.co/wx5iOIKctO
— Dave Portnoy (@stoolpresidente) May 19, 2021
The value of Tesla’s investment briefly almost doubled as of mid-April, for a total value of roughly $2.5 billion. The market decline that ensued after Musk’s recent pessimism saw the currency’s price decline by nearly 50 percent, meaning that as of Thursday, Tesla was sitting on a meager estimated profit of 8 percent.
It isn’t the first time Musk made a statement that undermined his company. He commented last year that he believed Tesla’s stock price was “too high,” causing it to plummet. Portnoy alluded to the incident in his commentary.
“If you’re willing at one point to be like, ‘Tesla stock is too high,’ you’re capable of anything,” Portnoy said.
Watch above via Blockfolio around the 2:30 mark.
