BiyaPay Analyst: Musk's Fallout with Trump Triggers Market Turbulence, Tesla's Market Cap Plunges by $150 Billion

BlockBeats News, June 7th. Musk's relationship with US President Trump has completely deteriorated, and the two have recently engaged in a war of words on social media. Musk stated, "If it wasn't for himself, Trump would never have become president," to which Trump retaliated by saying Musk "has gone mad."

The catalyst for this conflict was Musk's public opposition to the Trump administration's proposed "Big and Beautiful Act," stating that the act would increase the fiscal deficit, particularly by reducing the tax credit for electric vehicles, which would be highly detrimental to Tesla. As their relationship became public, Tesla's stock price became the biggest victim in the market, with investors selling off stocks en masse due to concerns about Tesla's future prospects.

On June 5th, Tesla's stock price plummeted by over 17% intraday, ultimately closing down over 14%, leading to a market capitalization loss of over $150 billion. This event caught the attention of BiyaPay users, who promptly reacted by using the BiyaPay platform to convert USDT to USD and then taking advantage of the significant drop in Tesla's stock price to short Tesla, allowing investors to make quick decisions and gain substantial returns in a volatile market.

Through BiyaPay, users can easily convert USDT to USD without an offshore account and directly engage in US stock trading on the platform, including shorting popular stocks like Tesla. The sharp decline in Tesla's stock price provided many BiyaPay users with an ideal profit opportunity, and some users successfully earned significant returns by seizing this opportunity.

This also demonstrates that amid political and market fluctuations, the convenient trading services and liquidity support offered by the BiyaPay platform enable users to profit from quick reactions during critical moments. As more investors participate in US stock market trading through BiyaPay, the platform is providing global users with more diversified and flexible investment options.