Elon Musk's net worth fell below $1 trillion after SpaceX's stock plunged about 40% from its peak, dropping the company's valuation from $2.9 trillion to under $1.6 trillion. The stock, which surged to $225 after its IPO, has fallen below its initial $160 price, now trading under $140. This decline is attributed to high interest rates, concerns over an AI bubble, heavy spending, and doubts about the company's inflated valuation amid a weak economy. Meanwhile, Bitcoin remained relatively stable, trading between $60,000 and $65,000 over the past month. Musk is focusing on SpaceX and Starlink, though the company has yet to generate profits to justify its high valuation.
Bitcoin traded near $78,400 on August 31, marking a roughly 24% gain in August, its strongest monthly performance since 2017. This rally was supported by $1.92 billion inflows into U.S. spot Bitcoin ETFs and $6.55 billion in short liquidations across...
Over the weekend, the cryptocurrency market remained calm with minimal price changes in major assets like Bitcoin and Ethereum. Bitcoin held steady near $78,000, while Ethereum saw a slight decline. Monero stood out with a notable 9.9% gain, suggesti...
Bitcoin traded near $77,900 on Aug. 31, showing resilience despite renewed US-Iran conflict that pushed oil prices above $90 and pressured global stocks. BTC gained about 23% in August, outperforming gold and Nasdaq. The Federal Reserve's hawkish sta...
Ethereum has rallied 34% over the past month, outperforming major cryptocurrencies and trading around $2,440–$2,465. Analyst Tom Lee projects Ethereum could reach $6,000 if Bitcoin climbs to $150,000 by the end of 2026, driven by a rising ETH/BTC rat...
Bitcoin remained steady around $77,580 as geopolitical tensions between the US and Iran raised oil prices and pressured stocks and gold. The cryptocurrency gained about 23% in August, outperforming gold and the Nasdaq. Rising oil prices followed US a...
