Elon’s Bitcoin bet returns Jeff Bezos the title of richest person in the world

Elon Musk is now only the second richest person in the world, after the eccentric entrepreneur Tesla invested 1.5 billion dollars in Bitcoin, which has fallen sharply in value in recent days.

Tesla’s share price has fallen by about 25 percent since its peak, due to sales of high-tech stocks.

Read more: Ether breaks $ 2,000, Bitcoin breaks a billion market capitalization, and Elon Musk still loves crypto

Tesla’s decline was exacerbated by the decline of Bitcoin, which has since reached a maximum of $ 55,000 per Bitcoin, to just under $ 46,000 at the time of writing.

A German-based trader said Tesla “took the chips off the table” because his investment in the $ 1.5 billion cryptocurrency could “strike back now”.

Read more: Elon Musk risking the wrath of the American authorities with Bitcoin tweets

Tesla started 2020 at a price of about $ 85 per share, but reached the $ 900 mark on January 25th. Tesla’s boom initially crowned Muska the richest person alive, overtaking Amazon founder Jeff Bezos.

When he became the richest living person, Musk had a fortune of more than 188.5 billion dollars, at that time some 1.5 billion pounds more than Bezos.

Space X raises $ 850 million in capital

Far from Tesla, Musk’s second company, Space X, raised about $ 850 million in capital, according to a regulatory report.

The private space company raised $ 1.9 billion in August in its largest fundraising round, according to financial software vendors and PitchBook data.

The last round reportedly raised the valuation of the company, whose investors are Alphabet and Fidelity Investments, to about $ 74 billion.