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Cardano Founder Predicts New Timeline for Bitcoin to Hit $250,000

Lele Jima
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Cardano Founder Predicts New Timeline for Bitcoin to Hit $250,000

Cardano founder Charles Hoskinson has voiced strong optimism about the future of cryptocurrencies, forecasting that Bitcoin could more than double in value by next year. 

Hoskinson shared a bold outlook during a Bloomberg interview. He highlights key drivers of the next growth wave, including institutional adoption and regulatory clarity. 

1 Billion Users to Adopt Crypto 

For regulatory clarity, Hoskinson mentioned the GENIUS Act and CLARITY Act as pivotal catalysts for the upcoming growth. He noted that these initiatives could foster an environment conducive to mainstream adoption among both retail and institutional investors. 

He said the GENIUS Act, signed into law in July, has already marked a major step forward by enabling greater participation from traditional financial institutions. Looking ahead, Hoskinson expects the CLARITY Act, currently under review in the Senate, to accelerate adoption further. 

He emphasized that with growing institutional involvement and impending regulatory clarity, as many as 500 million to 1 billion new users could enter the crypto space, alongside integration from the “Magnificent Seven” tech giants. 

Bitcoin to Reach $250K by Mid-2026 

Meanwhile, the Cardano founder remained bullish on the trajectory of cryptocurrencies. He pointed to sustained demand from investors, noting that the upcoming CLARITY Act will also attract more institutional players. 

While acknowledging a slowdown in venture capital activity, Hoskinson expressed confidence that investment would regain momentum toward the end of Q4 2025 and into the early part of next quarter. 

Against this backdrop, he projected that Bitcoin could climb to $250,000 by mid-2026, marking a surge of 107.77% from its current price of $120,324. 

He had previously set this price target earlier in the year, projecting that Bitcoin could reach the $250,000 mark by late 2025 or 2026. Now, he has reiterated the forecast, once again emphasizing his firm conviction in the prediction. 

Crypto Is 3-5 Years Away From Becoming the Backbone of the Financial System 

Interestingly, Hoskinson likened crypto to financial stem cells that can function like securities, commodities, currencies, or even intellectual properties. 

He expressed confidence that crypto would eventually become the backbone of the global financial system within the next three to five years, specifically by 2028 -2030. 

However, Hoskinson believes selective disclosure and rational privacy are the key missing elements in achieving that goal. Once solved, he suggested that the crypto ecosystem could essentially become a “superset” of traditional broker-dealers and custodians, offering all the services of legacy systems. 

Expert Says Your Chance to Front-Run Institutional XRP Buying Has Been Extended

Abdulkarim Abdulwahab
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Expert Says Your Chance to Front-Run Institutional XRP Buying Has Been Extended

The U.S. government shutdown has introduced fresh uncertainty into the crypto market, particularly surrounding the arrival of XRP ETFs.

With Congress unable to agree on funding, nearly 900,000 federal workers have been furloughed. At the same time, the SEC has confirmed it will be operating with “a very limited number of staff.”

As a result, new product approvals, including multiple spot XRP ETF filings, are likely to face delays. ETF analyst Nate Geraci suggested that “ETF Cryptober” could be put on hold as the SEC focuses solely on market integrity and emergency operations.

XRP ETFs Hang in the Balance

October was widely expected to be a breakthrough month for XRP, with seven major issuers managing $1.7 trillion awaiting SEC rulings.

Grayscale’s XRP Trust conversion has a hard deadline of October 18, meaning the SEC must approve or deny it once operations resume.

In past cases with Bitcoin, the SEC has approved multiple filings simultaneously, opening the floodgates for institutional inflows. Many expected a similar approach for XRP ETFs.

This triggered several rounds of predictions of double-digit prices once regulated access is live. However, the outlook for an October XRP ETF approval is now diminishing amid recent political developments in the U.S.

Community Sees Opportunity

While some fear delays will blunt momentum, XRP community figure Zach Rector offered a different perspective. He tweeted that the shutdown “extends your chance to front-run institutions.”

The statement implies that retail investors now have more time to position themselves before institutional demand accelerates.

Rector’s view is supported by Santiment data, which shows that institutional wallets accumulated nearly $1 billion in XRP in August. More recently, specifically over the past two days, whales bought 250 million XRP.

With this, these investors have increased their XRP positions to 9.2 billion worth over $27 billion. In other words, major players are quietly preparing ahead of SEC rulings.

Notably, XRP is trading at just $2.99 at press time, attempting to recapture the $3 psychological barrier.

Analysts Still Bullish

Despite the pause caused by the shutdown, analysts remain optimistic. Projections range from $22 to $50 for XRP post-ETF approval, with Canary Capital estimating $5 billion in investments within weeks and JPMorgan suggesting up to $8 billion in the first year.

CME futures data further reinforces this momentum, with XRP futures topping $1.25 billion in open interest.

As a result, Cambridge analyst Bradley Peak described XRP as Wall Street’s “dark horse,” suggesting it could surprise skeptics just as Bitcoin did once ETFs legitimized it.

Essentially, the U.S. shutdown may have stalled the timeline, but many in the XRP community see this delay as an opportunity rather than a setback.

The chance to accumulate before institutions flood in, as Zach Rector argues, may indeed have been extended, making this the calm before the storm.

Nonetheless, there are ongoing suggestions that some ETFs may be deemed automatically approved once their final October deadline passes. Still, the SEC could delay their launch, as seen in Grayscale’s DLC fund conversion to an ETF earlier this year.

$3.6T JP Morgan Says Bitcoin Undervalued Against Gold, Could Rally to $165,000

Elendu Benedict
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$3.6T JP Morgan Says Bitcoin Undervalued Against Gold, Could Rally to $165,000

Top US bank JP Morgan has continued to predict that Bitcoin would follow the trajectory of gold, this time citing the volatility adjustment metric.

JP Morgan claims that Bitcoin is undervalued compared to gold. This sentiment is widespread among prominent industry leaders as they match the pioneering cryptocurrency toe-to-toe with the precious metal.

The $3.6 trillion bank then projected that Bitcoin would climb to $165,000, closing the gap with gold’s current volatility-adjusted valuation. At the time of writing, Bitcoin was trading at $119,283, and a rally to the new all-time high would mark a 38% increase.

Bitcoin to New ATH to Match Gold in Debasement Trade

For context, gold and Bitcoin have emerged as stores of value, serving as hedges against currency debasement. Exchanging fiat for these assets constitutes the “debasement trade,” as investors shift from less stable currencies to a more established asset class.

Hence, the volatility of Bitcoin and gold should be closely matched. However, gold has been on parabolic expansion over the past week, recently reaching a new all-time high of $3,900 today.

This has steered the Bitcoin-to-gold volatility ratio lower, hence creating the disparity JP Morgan highlighted. To close this gap, the bank suggested that Bitcoin would have to increase by almost 40% to match gold’s current volatility ratio.

Bullish Sentiment Adds to Calls for Higher Bitcoin Prices

Meanwhile, JP Morgan adds to the voices suggesting that Bitcoin could go higher. The bullish sentiment has gained momentum lately, particularly as we enter the fourth quarter of the year.

This period has historically coincided with a massive price lift for Bitcoin, especially during bull market cycles. Precisely, Bitcoin has recorded an average gain of 20% in October since 2013, fuelling the prospects of a rise to new all-time highs this season.

Technical analysis also supports this bullish belief, with an analysis from Egrag Crypto identifying positive developments surrounding the price of Bitcoin. If current levels hold, the market commentator also predicts that the premier asset could rally to unprecedented price levels.

The Gold vs Bitcoin Comparison

Meanwhile, market observers have continued to compare gold to Bitcoin, despite the latter being relatively young. This has brought Bitcoin the “digital gold” and “modern-day gold” tags, further increasing its appeal among both retail and institutional investors.

With their qualities closely matched, some have predicted that Bitcoin will capture a chunk of gold’s $26 trillion market cap. Others believe that Bitcoin’s digital, liquid, and scarce qualities make it superior and that it will surpass gold in the long term.

One of those sharing this sentiment is Mexican billionaire Ricardo Salinas Pliego, who projected that Bitcoin will be more valuable than gold. Coinbase CEO Brian Armstrong also sees Bitcoin gaining more mainstream adoption than gold, predicting that countries would hold more of the digital asset over time.

Bitcoin Price Rally Targets $130K as Fibonacci Extension Comes Into Focus

Albert Brown
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Bitcoin Price Rally Targets $130K as Fibonacci Extension Comes Into Focus

As Bitcoin maintains its rebound push, market analysts are now eyeing a new all-time high at the 1.618 Fibonacci extension.

Specifically, market watcher Jake Wu points out that Bitcoin is moving toward the 1.618 Fibonacci extension at $130,558, a target mapped from the January–April 2025 measured move. This comes as the firstborn crypto recently went slightly above $119,000.

Data from his chart shows that this Fibonacci projection is derived from the rally that began after Bitcoin’s August 2024 pivot, when the price bottomed near $60,000 before resuming its upward trajectory. The January to April 2025 rally lifted Bitcoin from roughly $75,000 to $118,000, marking a gain of more than 57%. 

Following that leg, the market consolidated, with a corrective pullback sending BTC toward the $109,000 support zone in late September. From this low, Bitcoin surged nearly 10% in the first week of this new month, reclaiming $118,991 on October 2.

Bitcoin 1M Chart Jake Wu
Bitcoin 1M Chart Jake Wu

The volume profile shows a significant volume shelf at $108,000, which provides a structural support zone. This shelf represents an area of high trading activity and has acted as a springboard for the current rally. Notably, sustaining momentum above this level gives the 1.618 extension added weight as the next milestone in the trend.

MVRV Bands Point to $139K Next for BTC: Ali Martinez

Meanwhile, as Bitcoin continues to recover, analyst Ali Martinez is also bullish on its trajectory, stating it could fly to $139,000 based on current market conditions, adding to the long list of Bullish predictions on the crypto king. 

He shows that Glassnode’s MVRV Extreme Deviation Pricing Bands also confirm expansion potential. At the current price, Bitcoin has so far broken above the +0.5σ band at $116,733. Historically, this breakout often leads toward the +1σ band, now positioned at $138,816.

Bitcoin MVRV Extreme Deviation Pricing Bands Glassnode
Bitcoin MVRV Extreme Deviation Pricing Bands | Glassnode

The deviation model places strong statistical significance on these zones. Bitcoin’s realized price of $53,931 highlights that the market’s average cost basis remains far below the current spot price. Long-term holders are comfortably in profit, a condition that typically aligns with stronger directional conviction.

Binance Data Shows Aggressive Buy-Side Pressure

Supporting the move is derivatives market data from Binance. On September 25, Bitcoin fell to a local low near $109,000, which coincided with a -13.5% drop in open interest, signaling heavy position closures. This was effectively a capitulation point, flushing weaker hands from the market.

By October 2, open interest had rebounded +11%, a 24.5% swing within one week. At the same time, Binance net taker volume surged to +$1.62 billion, the strongest positive reading throughout September. This marked a clear dominance of buy orders over sell orders, flipping sentiment from defensive to aggressive accumulation.

Bitcoin Binance Net Taker Volume CryptoQuant
Bitcoin Binance Net Taker Volume | CryptoQuant

The sharp breakout past $119,000 was further accelerated by liquidations. Data shows a significant liquidity cluster at that level, where short positions were forced to cover. As sell orders converted into market buys, upward pressure intensified.

Bitcoin Sees Historic $3.7B Profit-Taking in One Day as Price Rebounds to $119K

Abdulkarim Abdulwahab
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Bitcoin Sees Historic $3.7B Profit-Taking in One Day as Price Rebounds to $119K

Bitcoin witnessed a surge in profit-taking activity as investors locked in more than $3.7 billion in gains in a single day.

CryptoQuant analyst Caueconomy highlighted this development in his latest update. He noted that the event ranks as the fifth-largest profit-taking spike of 2025, triggered by BTC’s recent strong rally. Notably, Bitcoin approached the $120,000 mark earlier today for the first time since August.

Historic Profit-Taking Amid Price Rebound

Specifically, it touched $119,780 before retracing slightly below that level. Meanwhile, just four days ago, Bitcoin traded below $110,000. The abrupt turnaround is now causing traders to book nearly $4 billion in profits in one day, which has, to some extent, slowed BTC’s price climb.

While such high volumes of realized profit often add selling pressure to the spot market, Caueconomy noted that the data does not yet indicate short-term holders dominating this activity.

Instead, both speculative and longer-term investors have participated, leaving the market balanced for now. He added that profit-taking volumes could expand further if Bitcoin continues to test resistance levels. At press time, Bitcoin is holding at $118,884, boasting a seven-day gain of 6.5%.

Bitcoin chart of realized profit by CryptoQuant
Bitcoin chart of realized profit by CryptoQuant

Bitcoin Short-Term Holders Show Signs of Stress

Separately, analyst Kripto Mevsimi highlighted shifts in STH-SOPR (Spent Output Profit Ratio for short-term holders), a key metric for tracking speculative market health.

During September, STH-SOPR dropped to 0.992, reflecting that short-term holders were increasingly selling BTC at a loss. However, by month’s end, the metric rebounded slightly to 0.995. While still negative, it signals the first signs of stabilization.

Mevsimi’s analysis pointed to the $114K–115K range as a heavy resistance zone, but bulls have successfully flipped this barrier and are now challenging the $120K price level.

Price Remains Bullish with No Excessive Leverage

Meanwhile, in a separate analysis, CryptoQuant’s PelinayPA remarked that Bitcoin trading is strongly within a range that shows signs of a rally driven by genuine spot demand rather than speculative leverage.

She noted that, unlike typical rallies fueled by high positive funding rates and leveraged longs, the current neutral to negative funding rates amid rising prices suggest a healthier market supported by long-term holders.

Negative funding also hints at a short bias, which could lead to sharp upward squeezes and accumulation opportunities.

PelinayPA noted that a sustained drop below $115K with negative funding may trigger a correction toward $105K–$110K. 

Overall, the funding rates and strong spot demand point to a bullish, sustainable Bitcoin price rally with a potential move to $125,000 soon — the level of Bitcoin’s all-time high.

SBI Crypto Hit by $21M Hack, Funds Laundered via Tornado Cash

Zabi
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SBI Crypto Hit by $21M Hack, Funds Laundered via Tornado Cash

Japanese crypto mining pool operator SBI Crypto, a subsidiary of financial giant SBI Group, has become the latest target of a high-value hacking incident.

Blockchain investigators have confirmed that the company lost around $21 million in digital assets following a breach on September 24, 2025.

The theft, first flagged by independent blockchain analyst ZachXBT, involved suspicious outflows from multiple wallets connected to SBI. On-chain data shows that these wallets were systematically drained in a series of coordinated transactions.

What Was Stolen and How

The compromised wallets contained a mix of Bitcoin, Ethereum, Litecoin, Dogecoin, and Bitcoin Cash. Once stolen, the assets were quickly moved through five instant exchanges, a tactic designed to fragment and obscure the money trail.

Afterward, the funds were funneled into Tornado Cash, a well-known crypto mixer. Notably, investigators say this step mirrors the playbook used in past cyberattacks attributed to North Korean groups.

Lazarus Group Suspected

In a Telegram post, analyst ZachXBT pointed out that the digital fingerprints of the SBI hack closely match those used by the Lazarus Group, a North Korean state-sponsored cyber unit.

The group has become notorious in recent years for large-scale thefts from the global crypto industry, using the stolen funds to evade international sanctions and finance state operations. However, SBI Crypto has yet to issue a public statement. 

Tornado Cash in Spotlight Again

Meanwhile, the use of Tornado Cash has reignited debate about the platform’s role in enabling cybercrime. The U.S. Treasury sanctioned the service in 2022, citing its central role in laundering billions of dollars linked to North Korean hackers.

In 2025, however, a U.S. court lifted restrictions, allowing the mixer to resume operations. This decision has drawn criticism from security experts. According to them, it has once again made it easier for hostile actors to exploit the platform.

Growing List of Crypto Heists

The SBI Crypto case is not an isolated incident. In fact, North Korean hackers have intensified their campaigns against the digital asset industry, targeting exchanges, wallet providers, and crypto banks.

For instance, in 2024, blockchain forensic firms reported 47 incidents that resulted in losses exceeding $1.3 billion. Moreover, the trend accelerated in 2025, with hackers stealing an estimated $2.2 billion in the first half of the year.

Among the most damaging attacks this year was the $1.4 billion breach of Bybit, a major crypto exchange. The year was further marked by the theft of nearly $50 million from crypto neobank Infini.

Analyst Says Dogecoin to $1 Is Not Just a Possibility but a Reality

Albert Brown
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Analyst Says Dogecoin to $1 Is Not Just a Possibility but a Reality

Amid the ongoing Dogecoin recovery push, a well-known market analyst has pointed to an ascending megaphone pattern.

Notably, Dogecoin is trading inside what analysts describe as an ascending megaphone pattern, a structure that has historically led to major breakouts. The analyst, EtherNasyonal, believes the structure is expanding toward $1.

Historical Rallies Show Repeated Pattern

His accompanying chart highlights Dogecoin’s behavior since 2023, showing a series of accumulation phases followed by strong upward moves. Specifically, during late 2023, the meme coin consolidated near $0.06 before staging a breakout above $0.15 by early 2024 and slipping back into consolidation.

Another rally took place between March and May 2024 when prices climbed from $0.08 to more than $0.23. After the second corrective phase, Dogecoin found renewed strength in late 2024, holding support levels that carried into 2025.

3-day DOGE Chart | EtherNasyonal on X
3-day DOGE Chart | EtherNasyonal on X

This price action formed a series of higher bases that aligned with the broadening megaphone structure. According to the analyst, these repeated sequences show that the current pattern is consistent with earlier setups, each of which eventually delivered extended rallies.

For the uninitiated, the ascending megaphone pattern features diverging trendlines that capture both rising lows and expanding highs. In Dogecoin’s case, the structure shows an upward trajectory beginning in mid-2023 and continuing through 2025. 

DOGE Price Patterns Display Tight Consolidations Preceding Breakouts

A separate analyst, Trader Tardigrade, adds further context to the current momentum. His chart shows DOGE repeatedly forming periods of tight consolidation followed by breakouts into steep rallies. Each instance, seen in July and September, shows the same cycle of compression and expansion.

Dogecoin consolidated tightly between $0.22 and $0.23 before breaking out towards the $0.25 region. The projection on the analyst’s chart shows this sequence potentially continuing, with the latest consolidation zone leading to another upward surge beyond $0.34.

8-hour DOGE/USD Chart | Source: X
8-hour DOGE/USD Chart | Source: X

The repeated nature of these breakouts mirrors the larger megaphone structure as seen from analyst EtherNasyonal’s chart, presenting short and mid-term confirmation of the broader bullish framework.

Dogecoin Showing Higher Highs and Higher Lows

Additional chart data supports the two analysts’ opinion by mapping Dogecoin’s higher highs and higher lows. DOGE established a low of five and a half cents in October 2023 and rallied to more than $0.42 in March 2024. 

Another high was recorded above $0.38 in April 2025. Even during corrective periods, the price consistently defended key supports, most notably at $0.16 in September 2024 and again near nineteen cents in August 2025.

1-day DOGE/USD Chart | Source: TradingView
1-day DOGE/USD Chart | Source: TradingView

This sequence confirms the upward slope of the trendline and the integrity of the channel. The Relative Strength Index currently stands near 55, suggesting balanced momentum with room for continued upward pressure if buyers remain active.

Tradeship University Founder Predicts When XRP Will Be Number 1

Abdulkarim Abdulwahab
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Tradeship University Founder Predicts When XRP Will Be Number 1

Cameron Scrubs, founder of Tradeship University, has joined the growing list of pundits making ambitious predictions about XRP future.

In a post on X, Scrubs declared that XRP will overtake both Bitcoin and Ethereum to become the world’s number-one cryptocurrency by market capitalization by 2030. “Bitcoin and Ethereum will be second to XRP,” he said.

In other words, Scrubs is forecasting a future where XRP’s dominance in the crypto market rises dramatically from its current 4.4% level to one that surpasses the level Bitcoin holds (nearly 60% today). He sees this happening as early as the end of this decade, less than five years from now.

Can XRP Really Flip Bitcoin?

Meanwhile, for XRP to claim the top spot, it faces a daunting challenge. Currently, Bitcoin’s market cap stands at over $2.36 trillion, massively dwarfing XRP’s $177 billion valuation. In particular, the gap between XRP and Bitcoin is nearly $2.2 trillion.

To close this vast margin by 2030, XRP would need to surge more than thirteenfold, hitting a price around $39.4.

However, this scenario assumes XRP continues to soar while Bitcoin remains stagnant, which is an unrealistic outlook.

In fact, numerous leaders in the crypto industry — including founders of Coinbase, Cardano, BitMex, and Telegram — have all predicted Bitcoin could climb toward $1 million by 2030.

At such a price, Bitcoin’s market cap could exceed $20 trillion by 2030, making an XRP “flippening” even more difficult. For XRP to then rise to this $20 trillion market cap, its price would need to exceed $335.

Interestingly, not many in the crypto industry — even among the XRP Army — believe XRP could hit this level within five years.

Competing Narratives

Meanwhile, Scrubs’ prediction echoes earlier bold calls from XRP commentator Coach JV, who also envisions XRP surpassing Bitcoin within the decade. 

On the other hand, crypto influencer Ben Armstrong (BitBoy) frames the debate differently, asking what it really means for XRP to be “the next Bitcoin.”

While XRP excels in speed and efficiency, Armstrong highlights decentralization as Bitcoin’s defining edge. Ripple’s large holdings, which account for over 40% of XRP’s supply, fuel ongoing concerns about centralization.

In other words, while BitBoy sees XRP in a much better position by 2030 compared to its current $2.97 level, he believes Bitcoin will continue to maintain the lead in market cap, though XRP may catch up closely.

Catalysts That Could Change the Game for XRP

Despite these challenges, proponents argue that XRP’s future adoption by banks and institutions could support a price surge. With transaction speeds as fast as 7 seconds, they see XRP transforming cross-border settlements.

Moreover, upcoming milestones such as a Ripple IPO and the launch of XRP ETFs are also among the catalysts that could help narrow the gap between XRP and its rivals.

Coinbase Doubles Down on Cardano as ADA Reserve Spikes 462% in Months

Elendu Benedict
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Coinbase Doubles Down on Cardano as ADA Reserve Spikes 462% in Months

Recent proof-of-reserve data shows that Coinbase Wrapped ADA (cbADA) continues to grow as the exchange doubles down on Cardano.

Cardano-based DEX Mintern shared this in a recent tweet, triggering bullish sentiment within the ADA community. The account noted that the prominent US exchange has republished the proof of reserve for its wrapped Cardano tokens, as numbers sustain its growth trajectory.

Coinbase’s cbADA Proof of Reserve Shows Growth

The recently updated report shows that Coinbase holds a reserve of 9,563,462 ADA valued at $8.2 million at the time of writing. Meanwhile, its total supply of cbADA stands at 9,530,418 tokens, reflecting Coinbase’s 1:1 backing policy.

Coinbase cbADA Reserve
Coinbase cbADA Reserve

Notably, the disclosure reveals a significant increase in the cbADA holdings of Cardano. For perspective, Coinbase launched the token in June with an initial supply of 1.7 million cbADA, providing Cardano holders with access to decentralized finance (DeFi) services that were not originally native to the network.

However, Cardano’s cbADA token reserve has grown to 9.56 million, representing a 462% uptick in the past four months. Mintern highlighted that the current figure also shows a 100% uptick in one month. This suggests that the US exchange held over 4.7 million cbADA in September.

Remarkably, wrapped Cardano, which is a Base-native and ERC-20 token, enhances DeFi exposure for ADA holders, allowing them access to protocols like Aave, Uniswap, and Compound. This aligns with Coinbase’s vision to provide non-native token holders with unified DeFi access on Ethereum’s Base.

Institutional Confidence in Cardano?

Mintern suggested that the reserve republishing and growing cbADA tokens suggest institutional interest in Cardano. Remarkably, financial giants are beginning to look beyond Bitcoin to altcoins, and the account believes Coinbase’s interest in ADA indicates a consensus that the token is “about to explode.”

In reality, institutional interest in Cardano is on the rise. ADA is among the tokens that would have a spot exchange-traded fund (ETF) if the US SEC approves a flurry of altcoin ETF filings on its desk. This comes as prominent asset manager Grayscale filed for regulatory nod to offer alternative exposure to ADA on the New York Stock Exchange (NYSE).

Meanwhile, Cardano’s inclusion in the US crypto stockpile also improved its global recognition. An executive order on March included ADA, alongside top assets Ethereum, XRP, and Solana, as the four assets that America would hold as reserve assets.

Interestingly, many believe that growing institutional traction towards Cardano would boost its price considerably. For context, Ssebi shared that ETFs and the liquidity unlocked by Bitcoin DeFi through Cardano will take ADA to $10.

Dogecoin Father Elon Musk Becomes First Person With $500 Billion Net Worth

Zabi
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Dogecoin Father Elon Musk Becomes First Person With $500 Billion Net Worth

The Tesla and SpaceX chief, Elon Musk, has become the first individual to approach a net worth of $500 billion, according to Forbes.

The achievement still places him far above rivals, including Oracle’s Larry Ellison, who has an estimated net worth of $350 billion. Unlike many billionaires, Musk’s net worth is harder to measure.

This is primarily because most of his fortune is tied to private companies that are not publicly traded. As a result, external estimates often remain speculative and subject to rapid changes.

The Engines of Musk’s Fortune

The bulk of Musk’s wealth remains tied to Tesla, the electric vehicle giant, and SpaceX, his aerospace company. Together, they form the backbone of his financial empire. 

In addition, Musk has steadily expanded into new areas. For instance, he owns X (formerly Twitter), xAI, an artificial intelligence startup, and Neuralink, a company developing brain implants. While these ventures are smaller in comparison, they highlight Musk’s ambition to diversify his empire beyond cars and rockets.

Rise During Political Shifts

Musk first crossed the $400 billion threshold in December 2024. At that time, investors speculated Tesla might benefit from his perceived ties to newly elected US President Donald Trump. Musk even made several visits to the White House early in Trump’s presidency, building on the close relationship established during the campaign.

However, the alliance quickly soured. Soon after, Trump threatened to cut federal support for Musk’s companies, creating fresh uncertainty for Tesla and SpaceX.

Consequently, this political turbulence coincided with a slowdown in Tesla sales. At the time, analysts noted that Musk’s outspoken right-leaning political views and his defense of Trump’s controversial cost-cutting programs appeared to alienate a portion of Tesla’s eco-conscious customer base.

Tesla’s Comeback and Growth Bets

Despite these headwinds, Tesla has since staged a strong recovery. Its stock price has risen in recent months, largely due to excitement around robotaxis and robotics projects.

Moreover, a surge in sales just before the expiration of federal electric vehicle tax incentives in September gave the company an additional boost. Together, these factors have played a key role in pushing Musk’s net worth toward the record-breaking half-trillion-dollar mark.

Musk and Dogecoin: The “DOGE Father”

Beyond cars and rockets, Musk’s influence also extends into the world of cryptocurrency. He has long promoted Dogecoin. In crypto circles, he is popularly known as the “DOGE Father.”

In fact, in 2019, Musk jokingly referred to himself as the “CEO of Dogecoin”. His frequent social media posts have since helped propel the coin into the world’s top 10 cryptocurrencies.

Then, in 2021, Tesla introduced Dogecoin as a payment option for company merchandise. The option has remained available since, making Tesla one of the few major firms that officially support the meme coin.

Last year, Musk had even hinted that Tesla vehicles could eventually be purchased with Dogecoin, though no firm timeline has been provided.

Tesla’s $1 Trillion Compensation Plan

Meanwhile, Tesla has proposed a massive new compensation plan for Musk. The package could be worth as much as $1 trillion, though it comes with strict conditions. 

To unlock the payout, Tesla must achieve an eightfold increase in market value, keep Musk as CEO, and meet multiple performance milestones. If successful, it would become one of the most ambitious executive pay packages in corporate history.

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