Tesla's Stock Drop Is All Thanks To Musk's Big Bitcoin Bet

After a meteoric rise of more than 700% in 2020, Tesla’s stock value has taken a dive and the company has suddenly entered a bear market. Indeed, just two months after speculation over the electric car company’s addition to the S&P 500 made Elon Musk the richest man on Earth, briefly overtaking fellow centibillionaire Jeff Bezos of Amazon, Tesla’s shares have dropped a whopping 22% since their record close, turning the company negative for the year. Most recently, Tesla’s stock prices dropped 6% in a single day, the…