Tesla falls and bitcoin slows down while Trump threatens to cut Musk subsidies

By Hannah Pérez

Donald Trump threatened to cut the subsidies to Elon Musk’s companies. “No more rocket releases,” said the president. Tesla’s actions resisted and Bitcoin also became moderately bassist.

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• President Trump threatens to cut the subsidies of Elon Musk’s companies.
• He suggested that the Doge agency should investigate Tesla CEO businesses to reduce costs.
• “No more rocket releases,” said the president. Thus “our country would save a fortune.”
• Tesla’s shares fell more than 7% and Bitcoin backed back to USD $ 106,000.

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The actions of Tesla In the American bag they fell and Bitcoin (BTC) lost impulse after the president of the United States, Donald Trump, threatened to cut the subsidies of Elon Musk’s companies.

In a publication in your account of Social truth On Tuesday, Trump hinted that Musk owes his success to government subsidies and suggested that the Government Efficiency Department (Doge) should investigate the CEO’s businesses Tesla To reduce costs.

“Elon could receive more subsidies than any other human being in history, By far, and without subsidies, Elon would probably have to close his businesses and return home in South Africa“Trump said in the post. “No more rocket launches, satellites or production of electric cars, and our country would save a fortune”

“Maybe we should ask Doge to analyze this carefully? A lot of money will be saved !!!”, The president added, referring to the government agency that Musk directed at the beginning of his administration before leaving office in May.

The comments had an immediate effect on the actions of Tesla (TSLA), which fell just over 5% prior to the opening of the market on Tuesday. TSLA shares opened 7.4% lower than USD $ 294.25, according to data from Google at the time of writing these lines.

The dispute between Musk and Trump is renewed

“He is upset because he is losing his mandate of electric vehicles … but he can lose much more than that, I can assure you. Elon can lose much more than that”Trump told reporters on Tuesday, reiterating his comment on social networks.

Musk responded in his X account with the message: “I am literally saying to cut everything. Now“, Together with a screenshot from Trump’s publication.

The renewed hostilities occur while Musk has intensified their political comments. The billionaire, who campaigned with Trump in 2024, has publicly criticized the draft tax and expenses law that is being processed in the US Congress.

Last month, both faced each other in a very public fight triggered by the budget spending proposed by Trump. The legislative proposal known as “One Big Beautiful Bill”, a draft law of tax cuts and expenses, has been the center of disagreements. Musk harshly criticized the law by qualifying it as a “disgusting abomination“That would add billions to the national deficit.

The tension between the two powerful was marked by exchanges of insults and threats on social networks, which at the time also impacted the actions of Teslacausing a liquidation. The actions of Tesla Then more than 11% had been recovered since June 5 as tensions seemed to blur, as he noticed CNBC.

Bitcoin loses impulse, down to USD $ 106,000

The price of Bitcoin It slowed in the middle of the developments and in line with a broader fall in the stock market. The main US actions slightly slightly slight Nasdaq Composite and The Dow Jones Industrial Average They also advanced up Monday.

BTC descended to a local minimum of USD $ 106,346 In the morning (ET) hours on Tuesday after having negotiated about $ 108,000 on Monday. The largest cryptoc Coinmarketcap.

Certain analysts now estimate that Bitcoin I could imitate the S&P 500 to break new historical price in July, after an increase of almost 30% in the second quarter of the year.

The price of Bitcoin It has decreased 4.5% from its historical maximum close to $ 112,000 conquered in May.

The broader cryptocurrency market reflected the slightly bassist trend, with the global capitalization of cryptocurrencies losing 0.74% in the last 24 hours at the time of publication.

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Hannah Estefanía Pérez / Diariobitcoin

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