Why Recessions Forge Great CEOs Who Think Beyond Cost-Cutting
04/15/2025
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But the CEOs who make history in downturns aren’t the ones with the deepest cuts
May 20, 2021: -On Wednesday, Cryptocurrency-related stocks led by Tesla and Coinbase dropped as bitcoin increased the equivalent of a bear market in a day.
Bitcoin, the world’s most significant digital token, decreased around $30,000 at one point on Wednesday, according to Coin Metrics. The price had come down roughly 24%.
On Tuesday, the move comes after China barred financial institutions from conducting crypto-related transactions. A JPMorgan report indicated large institutional investors were about to dump bitcoin in favor of gold.
This month’s pullback in bitcoin intensified almost a week ago after Tesla CEO Elon Musk wanted to change his tune a bit on crypto and said that the company would end accepting bitcoin for payment due to the environmental concerns surrounding crypto-mining.
“You had a confluence of events…where you started breaking down the positivity in the price action, and now we’ve got a liquidation event,” Galaxy Digital CEO and Chairman Mike Novogratz told CNBC. “It’s not going to bounce right back. It’ll consolidate for a while,” he added.
Tesla, a large holder of bitcoin, roughly decreased 4% on Wednesday. Microstrategy made headlines by purchasing a huge amount of bitcoin for its corporate treasury, which tanked by 10%.
The newly public crypto exchange, known as Coinbase, dropped around 9%. Bitcoin’s price approached $65,000 over a month ago before peaking around the time of Coinbase’s public debut.
Square and PayPal, which facilitate transactions in cryptocurrencies and have been big buyers, also lowered 4% and 1.5%, respectively, Wednesday morning.
Nvidia ticked down 2% after trading began. The company manufactures chips used in crypto-mining but reportedly trying to curb their use for that purpose.
But the CEOs who make history in downturns aren’t the ones with the deepest cuts
Companies invest millions in leadership development, yet many of their best executives leave within a few years. Why?
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The leadership landscape is profoundly changing, influenced by technological advancements, shifting workforce expectations, and the need for adaptability in an unpredictable global environment.
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But the CEOs who make history in downturns aren’t the ones with the deepest cuts
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