Daily Archive: July 11, 2020

Correlation Between Bitcoin Price and Stocks Reaches a New All-Time High By Cointelegraph

Correlation Between Bitcoin Price and Stocks Reaches a New All-Time High

Lately, price has been showing record-high levels of correlation with traditional markets and on July 9 the correlation between the and BTC reached a new all-time high.

Data from Skew shows that the one-year realized correlation reached 0.38 on Thursday, July 9 and this came after the metric had reached new highs earlier in the week.

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Elon Musk just surged past Warren Buffett on the list of the world’s richest people

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Elon Musk is now richer than Warren Buffett.

The fortune of Tesla Inc.’s founder rose $6.1 billion on Friday, according to the Bloomberg Billionaires Index, after the carmaker’s stock surged 11%. Musk is now the world’s seventh-richest person, also ahead of tech titans Larry Ellison and Sergey Brin.

The 49-year-old owns about a fifth of Tesla’s outstanding stock, which comprises the bulk of his $70.5 billion fortune. His majority ownership of closely held Space-X accounts for about $15 billion.

Shares of the electric car-maker have risen 269% this year. The firm’s booming valuation helped Musk land a $595 million pay-day earlier this year, making him the highest-paid CEO in the U.S.

Musk is the latest tech entrepreneur to rise above Buffett in the rank’s of the world’s richest. Steve Ballmer, the … Read More