TLDR
- Tesla stock dropped 14% in a single day, bringing its market cap below the one trillion dollar mark.
- The decline followed Elon Musk’s public clash with President Donald Trump over a new government spending bill.
- Bitcoin advocate Samson Mow urged Elon Musk to adopt a Bitcoin Treasury strategy to counter financial risk.
- Mow also suggested Tesla resume accepting Bitcoin payments and that SpaceX offer discounts for BTC transactions.
- Twitter co-founder Jack Dorsey supported the idea by reminding Musk of his earlier pro-Bitcoin statements.
Tesla stock suffered a sharp decline of 14% today, closing at $284.68 and losing over $100 billion in market value. The drop brought Tesla’s market capitalization below the $1 trillion mark, now standing at $917 billion. The plunge follows Elon Musk’s public clash with President Donald Trump over the new structure bill that could raise U.S. debt levels.
Bitcoin advocate Samson Mow responded to the market reaction by urging Musk to adopt a Bitcoin-focused financial strategy. Mow encouraged Musk to reinstate Bitcoin payments for Tesla and introduce a Bitcoin Treasury model to preserve value. He emphasized the importance of financial independence as Tesla’s stock weakness poses risks to Musk’s net worth.
In addition to Tesla, Mow also suggested that SpaceX offer discounts on BTC payments for space launches to boost Bitcoin’s utility. He argued that a broader use of Bitcoin could counter the effects of unchecked monetary policy. Mow warned that Musk’s fiat-based assets could face restrictions if political tensions continue to rise.
Dorsey and Deaton Back Bitcoin Push
Mow’s public suggestion was echoed by Twitter (currently X) co-founder Jack Dorsey, who reminded Musk of his past pro-Bitcoin comments. Dorsey referenced a 2020 post in which Musk referred to Bitcoin as his “safe word,” implying prior support. This renewed attention highlights ongoing calls for Musk to integrate Bitcoin more deeply into his business operations.
.@elonmusk it’s time to go all in on #Bitcoin.@Tesla can take BTC for payments again and implement a Bitcoin Treasury Strategy.@SpaceX can give a discount on launches paid in Bitcoin.
Force a hard money standard on the money printers.
— Samson Mow (@Excellion) June 5, 2025
John Deaton, a legal figure known for his involvement in the crypto sector, also predicted a possible increase in Tesla’s Bitcoin holdings. Deaton linked this potential move to growing financial uncertainty sparked by Musk’s dispute with the president over the spending-heavy structure bill. The bill, which may expand the national debt, triggered concern from both crypto figures and fiscal commentators.
Currently, Tesla holds more than 11,000 BTC in its reserves, valued at over $700 million at current prices. Although Tesla stopped accepting Bitcoin for payments in 2021, the idea of resuming BTC transactions is gaining support. Mow and Dorsey believe this would mark a return to a harder monetary standard during political instability.
Tesla Faces Fallout from Spending Dispute
Tesla’s 14% loss marks its steepest one-day percentage decline since March 2020, signaling rising pressure from external factors. TradingView data confirmed a further 2% drop in after-hours trading, indicating continued market volatility. The ongoing feud between Musk and Trump has intensified since Musk criticized the president’s endorsement of the bill.
Market analysts attribute Tesla’s decline to investor concerns over future debt levels and political risk surrounding the spending plan. Although Musk remains silent on any financial strategy shift, external calls for Bitcoin adoption continue to gain attention. As political and economic uncertainties persist, market reactions may further test Tesla’s valuation and leadership stance.
