Elon Musk’s Twitter posts are giving a big headache to Bitcoin investors as his opposition to the world's most popular cryptocurrency is triggering a tumble in Bitcoin prices. On Monday, Tesla Inc.’s chief executive officer lost his spot as the world’s second-richest person to LVMH Chairman Bernard Arnault as the electric vehicle-maker’s shares fell 2.2%. Tesla shares were on top of last week’s slump amid a global rout in technology stocks and fresh signs of trouble in its China business. Musk, 49, became the world’s richest person in January after Tesla’s shares surged almost 750% last year amid a boom in technology-driven stocks. Musk’s fortune has dropped about $9.1 billion this year, the most among U.S.-based billionaires tracked by Bloomberg’s wealth index.

Source: Mint May 17, 2021 23:58 UTC