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ยฉ Reuters.
Billionaires play, the rich get richer and investors inconsolable, just two men with nearly $ 375 billion, the size of the economy of a group of countries.
Investing.com – Accumulating fortunes and billions seems like the new game for business tycoons around the world. As they get richer, it seems small investors are racking up losses day in and day out.
The very influential new common factor in billionaire fortunes is digital currency, and we have a lesson on Jeff Bezos and Elon Musk; Yesterday, the two men’s fortunes jumped nearly $ 3 billion, bringing the two men’s combined wealth to nearly $ 375 billion.
Amazon (NASDAQ ๐
The wealth of Jeff Bezos, the founder of the American Amazon, increased by around $ 2.5 billion, after Amazon stock rose more than 1% to levels of $ 3,699.82. Jeff Bezos is the world’s number one billionaire, with an estimated fortune of around $ 211.5 billion.
This came in light of the company’s announcement of an experienced product manager position to develop Amazon’s crypto and blockchain strategy and set the product roadmap. This has fueled speculation that Amazon is looking for a way to enter the crypto world and accept bitcoin as a method of payment. However, an Amazon spokesperson denied press reports that the company was considering accepting it as a payment method this year.
Tesla (NASDAQ ๐
As the fortune of the most prominent billionaire Elon Musk jumped by around $ 3 billion, after shares of Tesla Inc. rose more than 2.2% to levels of $ 657.62. Musk’s fortune reached $ 163 billion after Tesla reported record quarterly news.
Yesterday Tesla posted the highest net profit in history, posting $ 1.14 billion in the second quarter, growing nearly 1,000% on a quarterly basis, and revenue up 98% to about $ 12 billion, exceeding expectations.
Tesla said it lost around $ 23 million investing in bitcoin during the second quarter.
While the company reported strong profits from its digital currency investments during the first quarter of this year, which amounted to more than $ 101 million, or 23% of the company’s net profits over the course of the period. She was not absent from the tweets of Musk yesterday, who tweeted on his page a short line, โThe Big Bang,โ which coincided with the sharp rises that swept through the crypto market on Monday.
Tesla has a market cap of around $ 620 billion, while Amazon has a market cap of $ 1.84 trillion.
Bitcoin now
Bitcoin has long suffered both dips and rises following pressure from Tesla and its founder, Elon Musk, as Tesla announced investments estimated at around $ 1.5 billion in major digital currencies at the end of January. At the end of May, Elon Musk said Tesla would no longer accept Bitcoin payments due to environmental risks and the use of fossil fuels in mining operations.
A few days ago, Musk said Tesla could start accepting Bitcoin payments again, at a global conference to support encryption, before tweeting yesterday about the impact of Amazon news that was denied that he this is the big explosion. On the other hand, despite Amazon’s refusal to consider accepting Bitcoin payments, a company spokesperson said Amazon is still looking to take advantage of digital currencies.
Bitcoin is trading during these times near the $ 37.6k levels, down 2.5%, after hitting its 6-week high yesterday, Monday, the $ 40,000 highs.
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