Elon Musk has officially become bigger than Bitcoin. His personal net worth reached an unprecedented $1.4 trillion, surpassing the entire Bitcoin market cap for the first time after a massive single-day jump fueled by the SpaceX (SPCX) rally.
Bitcoin remained largely unchanged on Wednesday as investors shifted their attention toward altcoins, signaling a broader capital rotation across the cryptocurrency market. While the leading cryptocurrency traded near $65,800, down 0.3% over the past 24 hours, it still posted a strong 7.4% gain for the week, according to CoinDesk data.
XRPs attempt to extend its rally above the $1.25 level was short-lived as strong selling pressure quickly erased gains and pushed the cryptocurrency back below $1.23. The move highlighted ongoing market uncertainty and the challenge of absorbing supply left behind from the recent correction.