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Bitcoin Price Falls Below $72,000 as Nvidia CEO Jensen Huang Steps Down and Strategy (MSTR) Slides

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Bitcoin Price Falls Below $72,000 as Nvidia CEO Jensen Huang Steps Down and Strategy (MSTR) Slides

Bitcoin Magazine

Bitcoin Price Falls Below $72,000 as Nvidia CEO Jensen Huang Steps Down and Strategy (MSTR) Slides

Bitcoin price fell below $72,000 on Thursday morning, its lowest level since mid-August, after Nvidia said CEO Jensen Huang had resigned and Strategy shares slid following MSCI’s confirmation of an index exit, according to Bitcoin Magazine Pro data.

The selling started after Wednesday’s close. Bitcoin slipped from about $74,700 to near $73,400 by 6 p.m. ET, then drifted sideways overnight. A second leg lower began around 6 a.m., and the bitcoin price briefly dipped to about $72,200 shortly after 8 a.m. The decline accelerated later in the morning, and bitcoin traded as low as about $71,670 around 9:29 a.m.

That move pushed the bitcoin price below the low near $72,700 it set after Tuesday’s hotter-than-expected inflation report. It now trades roughly $31,200 below where it stood one year ago.

Nvidia (NVDA) said Thursday that Huang has resigned as president, chief executive and a member of the board, effective immediately. The company named Chief Financial Officer Colette Kress as interim CEO and appointed Harvey C. Jones as its first board chair. Kress will continue as chief financial officer while she serves in the interim role. The board is searching for a permanent successor and said it will consider internal and external candidates. Nvidia is still scheduled to report fiscal third-quarter results on Nov. 17.

The resignation follows reports of extramarital relationships, including one that has raised national security concerns in Washington. Sen.



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