Due To The Decline In Tesla’s Stock Value, Elon Musk Is No Longer The Richest Person In The World
Tesla CEO, Elon Musk. (Photo: Instagram @elonmusk)

JAKARTA - The billionaire who owns the famous electric car business, Tesla, Elon R. Musk, must be willing to be evicted from the top list of the richest people in the world after his assets were reduced by USD 3.56 billion to USD 180 billion. The report is quoted from the Bloomberg Billionaires Index, today's edition, Wednesday, February 24.

The top position previously occupied by Elon Musk is again occupied by Amazon boss Jeff Bezos, who is said to have a fortune of USD 187 billion.

Furthermore, the shrinking of Elon Musk's assets was allegedly due to the fall of Tesla's shares by 20 percent since the beginning of last year, or the equivalent of USD 880 million. This condition seems to be the anticlimax of a number of benefits he has made so far.

Based on information compiled by the editor, Elon Musk is known to have bought bitcoin worth USD 1.5 billion. The action is intended as a security measure against Tesla's plan to allow consumers to buy the company's electric car products with cryptocurrency.

As a result, the price of bitcoin became exorbitant due to his action. VOI noted that last week, this cryptocurrency reached the figure of USD 54 thousand, equivalent to IDR 765 million per coin.

This week, bitcoin has almost crossed the USD 58 thousand mark or IDR 821 million per piece (IDR 14,000 exchange rate).

Recently, the selling price of bitcoin has dropped to less than USD 48 thousand due to the conservative attitude of the authorities in America who say that digital currency is considered no better than conventional money.

Through US Treasury Secretary Janet Yellen, the country has warned against the bad effects of bitcoin for investors and the general public.

Yellen said bitcoin's stability and legitimacy are still in question. She doubts the cryptocurrency is a safe instrument for transactions.

"I didn't think that bitcoin would be widely used as a transaction mechanism", Yellen said, adding that cryptocurrencies were often used for illegal transactions. Yellen also said that bitcoin is not efficient as a transaction tool. “So far (bitcoin) is used, I am afraid it is widely used for illicit (illegal) finance. This is a very inefficient way to conduct transactions and the amount of energy consumed to process these transactions is also very astonishing", she said. Yellen's view is believed to be the reason Tesla's stock has eroded considerably at this time.

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