*By Jacqueline Corba* Bitcoin dropped back below $8,000 this week, prompting the cryptocurrency's defenders to explain the seemingly rapid fluctuations (prices fell about $500 on Tuesday). "Probably the biggest thing driving Bitcoin's price where it is today is in fact the 'Bitcoin fork,'" a technical change in the currency's transaction protocol, said Brock Pierce, the Bitcoin Foundation's chairman. "There's uncertainty on what is Bitcoin?" The most recent sell-off comes after Bitcoin hit an eight-week high on July 24. "There was a nice moment there where it felt like we were going from this kind of bear, stagnant market back into a bull state," Pierce said in an interview Thursday on Cheddar's Crypto Craze. "But obviously that was a little premature." Pierce, who started investing in Bitcoin in 2011, said he remains "incredibly bullish" on the digital currency, calling it "Gold 2.0." For more on this story, [click here](https://cheddar.com/videos/crypto-pioneer-brock-pierce-shares-outlook-on-bitcoin).

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Musk loses crown as world’s richest to software giant Larry Ellison
Oracle co-founder Larry Ellison wrested the title of the world’s richest man from longtime holder Elon Musk early Wednesday as stock in his software giant rocketed more than a third in a stunning few minutes of trading. That is according to wealth tracker Bloomberg. A college dropout, the 81-year-old Ellison is now worth $393 billion, Bloomberg says, several billion more than Musk, who had been the world’s richest for four years. The switch in the ranking came after a blockbuster earnings report from Oracle. Forbes still has Musk as the richest, however, valuing his private businesses much higher.
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