Elon Musk took to Twitter on Wednesday to urge investors to buy Tesla stock after its price has plummeted this year, Markets Insider reports.

His comments came after a user of the social network he bought in late October suggested the billionaire may be partly responsible for the automaker’s 64% plunge in its share price, which wiped out more than $600 billion of Tesla’s market capitalization.

“Perhaps, and yes, in that case… an opportunity to purchase!” Musk replied, before again criticizing the Federal Reserve, Washington’s central bank.

“I keep saying that the Fed’s base rate is crazy because the data I’m seeing shows that we’re already in deflation. If this is true, the real yield on short-term Treasury bonds is roughly equivalent to the yield on the S&P500,” the billionaire added.

Musk has repeatedly criticized the Fed in recent weeks as the bank raised key interest rates from nearly 0 percent in March to more than 4 percent today in an effort to lower historic inflation in the United States.

The latest 0.5 percentage point increase came just last Thursday, although the latest US inflation data showed it fell more than expected in November.

Higher base rates lead to better returns on savings accounts and Treasuries, making them more attractive to investors compared to stocks and other risky financial assets.

Tesla will prepare new staff reductions

According to a report published on Wednesday by the specialized website Electrek, citing sources who wished to remain anonymous, another wave of layoffs will affect the American electric car manufacturer in the next quarter.

Information obtained by Reuters also said that Tesla would freeze hiring. The company did not respond to Reuters requests for comment, as Musk disbanded the company’s PR department back in November 2020.

The news comes as Tesla investors worry about the performance of Musk, who paid $44 billion to buy Twitter in October.

Analysts also cut their price target on Tesla shares amid concerns that demand for electric vehicles in China will decline next year.

In June, Musk announced that Tesla would lay off 10% of its workforce over the next three months, but later backed off from the move after it raised concerns among investors.