Skip to main content

Elon Musk Suffers a Major Crypto-Setback as Bitcoin Smash

Elon Musk is no longer the richest man in the world. He lost the top position of richness when Tesla Inc. shares slithered 8.6% on Monday. Musk lost $15 billion within a day after a warning. Musk’s assertion that bitcoin was overvalued saw the value of the cryptocurrency plunge.
Musk’s comment on Twitter seemed to have turned against him. His comment came weeks after he invested $1.5 billion in Bitcoin. His investment saw the cryptocurrency surge to a record-high, only to start plummeting on Monday. Bitcoin’s value continued plunging for the second day running on Tuesday.
By Sunday, Bitcoins value was $58,000 and dropped to $53,000 on Monday. Many analysts believed that crash happened due to Musk’s tweet. However, a contradicting statement asserts that the drop started happening, even before Musk tweeted.
According to Bloomberg, Musk has dropped to the second position swapping positions with Jeff Bezos. Musk suffered a major setback a day after his Dogecoin tweet agitated the risk-takers. Musk, a great supporter of Dogecoin stated that “there’s too much concentration of the coins among its major holders.”
“If major Dogecoin holders sell most of their coins, it will get my full support. Too much concentration is the only issue imo,” Musk had tweeted.

Comments

Popular posts from this blog

How Human Brain will replace Smartphones in communication

Elon Musk envisiges a future where smartphones are obsolete and communication happens directly through the brain.  According to Musk, Neuralink the brain-computer interface that his company is developing, could eventually replace phones entirely. Imagine navigating the internet, sending and receiving text messages, or even making calls, all with just your thoughts. This sounds like fictional science. However, Musk believes the integration of humans and artificial intelligence is a necessary mileage for human evolution.  Neuralink’s potential extends far beyond convenience; it could disrupt the field of medicine, communication and the way we interact with technology forever. The future Musk envisions is not just coming, it's already in the pipeline. NEURALINK will make Smartphones completely obsolete. Neuralink is a company that was found by billionaire Elon Musk and develops brain-computer interface technology. Its goal is to connect the human brain to computers so as t...

Why Matiang'i comeback threatens Ruto's re-election bid

  Former Interior cabinet secretary Dr. Fred Matiang'i is a great rival to President William Ruto in his 2027 re-election contest. Matiang'i is set to give Ruto a run for his money, owing to his track record as a cabinet secretary in the previous regime.  Former President Uhuru Kenyatta trusted Matiang'i more than any other cabinet secretary due to his workaholic nature and might be forced to finance his presidential quest.  The former Interior CS is reportedly eyeing the presidential seat on a Jubilee ticket, as alluded by the party's secretary general Jeremiah Kioni. Ruto's dalliance with the doyen of opposition politics and ODM party leader Raila Odinga had complicated the opposition's quest to unseat the sitting Head of State. Matiang'i comeback seals the vaccum left by Raila's departure. Why Ruto might lose Kenya's presidential seat in 2027 Ahead of 2022 general elections in Kenya , President William Ruto promised Kenyans heaven on Earth onl...

Google launches portal to flag AI-Generated content

  Google has launched a tool meant to identify Artificial Intelligence (AI) generated content. The giant Search Engine Company made the announcement about the launch of the SynthID Detector tool during Google's I/O 2025 developer conference. SynthID Detector is a tool developed to watermark and identify content generated through AI. The detector has the ability to identify AI-generated content across various platforms. Detectable content include text, images, audio and video. Google's DeepMind developed SynthID, a watermarking technology that is directly embedded into the content in contrast to traditional metadata tags. SynthID is a browser-based verification tool that permit users to upload content and receive a probability score revealing if it is AI-generated and watermarked with SynthID. For texts, SynthID adjust patterns and create a digital signature to be detected by AI. For images, the tool subtly modify pixels in a form that is invisible to the human eye. How Gener...