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Bitcoin price has been surprisingly stable today. Assuming that Tesla may have bought Bitcoin a few weeks ago when Elon was hyping it on Twitter, it’s likely already appreciated quite a bit. Elon doesn’t seem like the type to drop $2 billion on crypto and then simply hope for the best. Having access to large amounts of capital and crypto can allow you manipulate the market ie by placing large blocks of orders to generate more volume, and Tesla has both of those things. What’s Elon’s next play? #bitcoin
Take an asset priced on hype, buy $1.5B, declare people can soon buy Teslas for it. Totally not a pump and dump, totally not a conflict of interest where he could benefit from promoting crypto, totally not a SEC lawsuit waiting to happen.
Maybe Elon Musk will solve bitcoin mining being a waste of energy problem. I wonder if he even knew about it?
Viable alternative to crypto mining? Patent is filed by Microsoft. https://patentscope.wipo.int/search/en/detail.jsf?docId=WO2020060606
Solution to energy usage on mining is solved by other cryptos moving away from the PoW to PoS consensus algo. Examples are Polkadot and Ethereum 2.0. the latter will eventually dethrone BTC as the defacto smart contract platform that will be a better store of value than BTC
I wonder what his idea was pumping Doge. Maybe he wanted to raise interest in crypto? And Doge low cost of entry was a good way. Or he literally was just trolling?
It almost seems like a form of leverage. In a normal crypto boom, all the altcoins track Bitcoin with high correlation but a lesser magnitude. By shilling for the least serious coin, he was possibly able to influence the price of Bitcoin and also avoid too much scrutiny since Dogecoin is literally a joke.
People converting thier doge to bitcoins when they cash out.
What did Elon do to “pump” bitcoin? Bitcoin already had a $700B cap. Oh wait, you mean he put #bitcoin on his profile? Like @jack has done, why y’all not calling out Dorsey for “pumping”. On clubhouse he merely said he supports it but didn’t mention anything about owning it for regulatory reasons. Elon and Tesla are market leaders, they do shit other people follow. And THATS why bitcoin is hot, because the market knows others will follow.
Because blinders calling bitcoin a ponzi scheme are clowns that take constructive feedback as an attack on their clown egos
Probably Because he pumped doge like crazy multiple times. Has nothing to do with BTC but you tend to lose credibility when calling out a completely useless altcoin for the “memes”.
Next Tesla software update: mine Bitcoin with your car.
Maybe Tesla is already mining from the cars but keeping the profit 😂
Twitter could be next https://twitter.com/SquawkCNBC/status/1359501275650547714/video/1
Dogecoin
Elon prolly bought before he started tweeting about doge every second day. Prolly at like average cost of 15-20k
I believe he got in at the 30s
Elon pump and DUMP
Now that EV credits are coming to an end which is how Tesla used to “make” so much money (even though they only sell 500M worth of cars lol), Elon is trying to increase his book value by buying Bitcoin. Tesla most likely bought over the course of many months at a cheaper price, Elon starts pumping Doge (increase interest in crypto), makes this announcement to pump Bitcoin further, and will dump in a year or so.
What happened to memelon’s 2 million robotaxis by 2020
Let's see what the SEC says about this one..