- Trump-Musk feud triggered Tesla’s 14.26% stock crash, erasing $150 billion in market value on June 6.
- Crypto markets slumped: Bitcoin briefly dipped below $100,500; altcoins like Ethereum fell over 7.25%.
A public dispute between former U.S. President Donald Trump and entrepreneur Elon Musk triggered immediate reactions across financial markets on June 6th. Both stock and cryptocurrency values fell sharply following an exchange of critical statements between the two figures.
The conflict escalated after President Trump stated on his Truth Social platform that he had asked Musk to leave an advisory role and revoked an electric vehicle mandate. Trump characterized Musk’s reaction as going “CRAZY.”
— Elon Musk (@elonmusk) June 4, 2025
Musk responded by posting an image of the “Kill Bill” movie poster, symbolizing his opposition to a large spending bill proposed by Trump, which Musk claims undermines his past government efficiency efforts. This exchange occurred publicly over a short period.
Tesla’s stock price dropped 14.26% during trading on June 6th. This single-day decrease reduced Tesla’s total market value by approximately $150 billion. The drop directly followed the public remarks from Trump and Musk.
The impact extended into cryptocurrency markets. Bitcoin’s price fell more than 4%, briefly trading below $100,500 before recovering slightly to $103,373.93. Other major digital assets also declined: Ethereum dropped 7.25%, Ripple decreased 4.35%, and Solana slid 5.20%.
The wider market downturn led to nearly $1 billion worth of leveraged trading positions being forcibly closed within 24 hours, with most losses affecting traders betting on price increases.
Amid the turmoil, Bitcoin advocate Samson Mow publicly advised Musk via social media. Mow suggested Musk reintroduce Bitcoin payments for Tesla products and consider holding Bitcoin within Tesla’s treasury.
He further proposed SpaceX offer discounts for Bitcoin payments, framing it as a strategic defense against potential government action affecting Musk’s traditional assets. Mow termed this “freedom advice,” not financial guidance.
Separately, the public argument sparked activity in the cryptocurrency sector known for meme-inspired tokens. A new digital asset named “Kill Big Beautiful Bill” (KBBB), referencing the feud, launched and rapidly reached a market value exceeding $53 million within nine hours. Its value later decreased by roughly 30% to around $36.7 million.
Bitcoin (BTC) is trading at $104,222 USD, reflecting a daily decline of −2.78%. This correction comes after BTC reached a local high of $112,000 on May 22, followed by increased selling pressure and a technical pullback. Over the past week, BTC has declined −5.56%, though its monthly performance remains positive at +7.50%, and it holds a strong +46.57% gain over the past year.
On-chain data is especially noteworthy: Bitcoin whales (wallets holding over 1,000 BTC) have collectively added over 1.1 million BTC between March and June 2025, increasing their market share from 2.5% to 5.6%. This accumulation pattern points to sustained institutional confidence in BTC as a macro-hedge and long-term asset.
