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Here we go again? Elon Musk's tweet: "Tesla stock price is too high imo, give people back their freedom!"

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Here we go again? Elon Musk

Tech mogul Elon Musk is famous in the cryptocurrency world for his comments on Dogecoin (DOGE) and other cryptocurrencies. Each time he tweets just one word, it makes headlines. However, his habit of tweeting impulsively has also caused him trouble. Previously, when he mentioned taking Tesla private, it caused a drop in the stock price and led to lawsuits against him.

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Tech enthusiast Elon Musk is known in the cryptocurrency community for his comments on Dogecoin and other cryptocurrencies. Every time he posts a single word on Twitter, it sparks headlines. However, his habit of tweeting impulsively has gotten him into trouble in the past, such as when he mentioned taking Tesla private, causing a drop in stock prices and resulting in a lawsuit.

Recently, however, he has been making some impressive moves. Elon Musk's space technology company, SpaceX, has signed a contract with NASA to build a lunar lander for the mission to the moon by 2024. The only other company selected for this project is owned by the world's richest person, Jeff Bezos.

Furthermore, despite the economic downturn in the United States, Tesla has managed to turn a profit for the third consecutive quarter in the first quarter of this year. While traditional Detroit automakers like GM and Ford have struggled with their stock prices, Tesla's sale of regulatory credits, specifically carbon emissions credits, has contributed to its impressive Q1 revenue. However, the pandemic-related shutdowns have also stirred controversy for Elon Musk.

On the evening of May 1st, Elon Musk seemed to be in a spirited mood as he began tweeting that Tesla's stock price was too high and then exclaimed, "Give people back their freedom!"

He continued to post lyrics from the American national anthem, "The Star-Spangled Banner," seemingly with a hint of irony. He even quoted a line from the poem "Do not go gentle into that good night" by the British poet Dylan Thomas, which reads, "Rage, rage against the dying of the light." Musk modified it to "Rage, rage against the dying of the light of consciousness." This poem was a final rallying cry from the poet's father on his deathbed. Musk also stated that he would sell off all his physical possessions.

Such whimsical remarks naturally stirred responses from Bitcoin enthusiasts, with some commenting that Bitcoin's price was still too low. Some agreed with Musk, pointing out the overvaluation of the U.S. stock market, while others attributed his behavior to his habit of smoking marijuana.

This is not the first time his impulsive tweets have affected stock prices. Shortly after his recent tweets, Tesla's stock price dropped by 8%:

Regardless, in a situation where the U.S. is printing money endlessly to support the market, the discrepancy between stock market prices and values is conceivable. Musk's attitude of "They laugh at me because I'm different; I laugh at them because they're all the same" to some extent expresses certain truths, such as distrust in stock prices, irony towards the U.S., and a sense of desperation.

Bitcoin is seen by many anarchists and cypherpunks as a symbol of an ideal world. Whether it can be accepted by the public in the face of the economic and pandemic disasters remains to be seen.

Further Reading

  • Is the Great Depression Happening? TED Asks Bridgewater Fund, Ray Dalio Says: No, It's a Great Collapse
  • [Full Translation of BitMEX Commentary] Inflation Is Coming, This Is the Biggest Opportunity in Bitcoin's Brief History

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