Tech billionaire Elon Musk has never shied away from showing his enthusiasm for Bitcoin, Dogecoin, and the broader crypto economy.
In fact, Tesla (Nasdaq: TSLA) — Musk’s automotive and clean energy company — is well known for holding a substantial number of Bitcoin tokens in its balance sheet.
Note that Musk has also been serving as President Donald Trump’s senior advisor and the de facto head of the Department of Government Efficiency since January.
Trump’s announcement of “reciprocal tariffs” on Apr. 2, dubbed “Liberation Day” by the president, sent the global stock and crypto markets into shock.
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Though the markets took a sigh of relief following Trump’s 90-day pause on tariffs on most countries except China, there is still a long way to go to reach pre-Liberation Day levels.
The total crypto market cap has declined from $2.84 trillion to $2.71 trillion, reflecting a decline of 5% since Apr. 2.
Bitcoin, the largest cryptocurrency, has declined 5% since the “Liberation Day.” The king coin, which slipped as low as $74,773.26 on Apr. 7, was trading at $82,942.24 at press time as per Kraken’s price feed.
As per Arkham Intelligence, Tesla holds 11,509 BTC that were worth more than $1 billion before Trump’s Apr. 2 announcement. Since then, its value has come down to $954 million as of now.
To put it simply, the value of Tesla’s Bitcoin holdings has declined by 5% since “Liberation Day.”
TSLA itself has seen a decline of 12% over the period. The stock was exchanging hands at $249.79 at the time of writing.
