- Samson Mow advised Elon Musk to fully adopt Bitcoin for Tesla and SpaceX as a hedge during the ongoing political and financial turbulence.
- Tesla stock dropped 14% following Musk’s feud with Trump, leading to a significant decline in the company’s market capitalization.
- Bitcoin advocates, including Jack Dorsey and John Deaton, believe Musk could use Bitcoin as a safeguard and strategic financial move.
Bitcoin advocate Samson Mow has called on Elon Musk to adopt a Bitcoin-focused strategy amid a sharp decline in Tesla stock value.
The company’s stock decreased by 14% on that day and ended at $284.68. Musk’s argument with Trump over a contentious proposal led to the brand’s decline in value. Because of the fall in its share price, Tesla’s market capitalization is now below $1 trillion, standing at $917 billion.
On X, Samson Mow asked Elon Musk to fully accept Bitcoin. He advised the company to take Bitcoin payments again and follow a Bitcoin Treasury Strategy. Mow additionally proposed that SpaceX might provide discounted launches to clients who make their payments in Bitcoin.
He stated that this would amount to a resistance against fiat currencies, mentioning that people are increasingly concerned about the central government managing money. Mow indicated that deciding this way would uphold the principles of controlling and being financially independent.
Dorsey and Deaton Echo Support
Mow is not alone in pushing for Musk’s deeper involvement in Bitcoin. Twitter co-founder Jack Dorsey also resurfaced a previous post from Musk that said, “Bitcoin is my safe word,” reinforcing the idea that Bitcoin could act as a protective financial asset.
Legal analyst and former senatorial candidate John Deaton predicted that Tesla may increase its Bitcoin holdings. The company currently holds over 11,000 BTC in its portfolio. These endorsements highlight a growing belief among Bitcoin proponents that Musk should pivot toward a Bitcoin-centric financial strategy during turbulent times.
Tesla Stock Faces Pressure as Musk Criticizes Trump
Musk’s conflict with Trump over the proposed “Big Beautiful Bill” has sparked sharp investor reactions. The bill, expected to increase the national debt significantly, has drawn public criticism from Musk through multiple X posts. His continued criticism, including calls for Trump’s impeachment, appears to be fueling investor unease.
According to TradingView data, Tesla’s decline on the day was its steepest since March 2023. The drop continued after hours with an additional two percent fall, indicating ongoing volatility.
