Topic: Elon Musk and BTC (Read 413 times)

It seems that what you say is very true and the fact that has happened, that bitcoin is increasing is the contribution of @elonmusk with its Teslanya which resulted in a sharp increase. Of course, @elonmusk is not the only one who does this, maybe a lot of companies and brokers do too. but initially it was clear it was all from @elonmusk's tweets that resulted in all this.

With this, it is clear that crypto now continues to be something that is very much needed in the advancement of virtual currency technology with advances that continue to develop and make advantages that do not have by another and make many investors continue to believe in crypto.

Because of his determination, this is what happened to bitcoin right now it became widely popular even average person knew the importance of digital currency. Elon Musk renounced wealth, did a very interesting idea for everybody and that make us more confident right now to face the future with courage due to this man who joined us together in this journey. Holders should bare in mind that btc is more valuable than any physical asset.

But it doesnt mean that he would really be that professional in terms on things that do happen in crypto market.This isnt something that someone could easily able to grasp on directly

but as a billionaire then it would really be that a hard thing because you wont really be reached out into that status for nothing.Therefore, those words that do come out into his mouth

would really be mind by the community because he's not an ordinary person that you can just neglect or ignore on because you can possibly join up with the ride in case the price do hypes up.

Elon Musk is one of the people who contributed to making the price of Bitcoin increase very drastically in 2021. Indeed, Elon Musk's influence was
so great that TESLA finally decided to invest in Bitcoin, This is what triggers other companies and other large investors to become interested
in investing in Bitcoin. And don't forget that Elon Musk's using twitter media has also succeeded in influencing his followers to invest in Bitcoin.
So we as the crypto community should really say thank you for what Elon Musk has done so far.

In my opinion, Elon Musk is an eccentric genius, as many people say.  After publicly investing $ 1.5 billion in bitcoin and making a profit over a year that Tesla sold electric cars.  It is no coincidence that Elon Musk has a super foothold in terms of "effects" for bitcoin and crypto.  The comments on Tesla's tweets, whether intentional or unintentional, seriously affect the price of bitcoin.  This shows huge implications for the market and the price of bitcoin produces a ton of new ATH.  But that also means that Elon Musk himself is taking the risk.  Elon and Bitcoin unseen together form a link this year.  Lol

So you are talking about the most volatile commodity which gained 62000% and 300% growth this year taking the market cap above $1 trillion in just 12 years period?The fiat currencies are robbing you of purchasing power since 1990's but the only assest which is growing over time is Bitcoin with such growth rates.The wall street investors who were against its usage are turning their support to Bitcoin and major companies like Tesla, Microsoft are accepting btc payment why?Because they know its usage and increasing their networth and profits meanwhile which other assets like gold and shares have not been able to do.Be smart and think out of the traditional markets that are ruled by some influential rich people who gain by making fools of other small players in the market.Bitcoin is the future currency rest your decision.

You don't become a billionaire for anything, every move he makes and every word that comes out of his mouth, are acknowledge and covered by the media he will play a major role in the industry just like he did in the investing and manufacturing industry, expect him to come out with innovative ideas once he goes deep in the Cryptocurrency.

They can't afford nor have the authority to stop the spread of Bitcoin, they have nothing to do this since they are not in the controlled with. It is much better for these leaders to talk about supporting crypto rather than to think negatively.

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Back to Elon Musk, I really appreciate what he does. He absolutely has the purchasing power and could manipulate the minds of the people but he doesn't want everything will fall into his hands and take control of the market. What he does is to help people know about Bitcoin and sighting an important role it has today.

Fear and doubts are really on that on extreme level is on that time where everybody do looks the same views and perceptions towards the market.We dont know on what future looks like this is why

these kind of calls are really very that common.When it comes to sentiments and speculations floating around in the market then its not something new for us to be shocked on.

Now that known influencers or known people do join up the swarm then it does indicate that it did really getting some recognition now.Bull market is still young
but people are way too scare on taking up the risk.

Governments can't no longer stop the growth of crypto or bitcoin, many companies or taxpayers already use it as an investment the only thing they can do now is to put some taxes or limitations but not to the point that will cause harm or threat to crypto users since it already happened before but they were not successful in making it shut down. Regarding Elon, there are still supporters whose watching but still waiting to buy at lower price, who knows some companies also just waiting since the price went too high in just few months of this year there are still many of plenty of events can happen.

@OP, I'm not going to attack you, but I'd like to ask you something.
Aren't Gold, Platinum, Silver, Oil all highly volatile? Still they're traded by these people while these things are probably backed by nothing except their use case. Bitcoin's use case is its need to run the whole crypto economic system and if BTC won't outperform, alts will die. When an asset class of its own kind has born, why do you believe they've got no reasons to buy BTC? When there's profit, when there's a wider audience now who's ready to eat up all your sell orders and when there's more to come, why the hell do you think that these WallStreet guys won't be interested in BTC? You know something mate? BTC is pseudonymous, meaning that those who invest in BTC don't even need to tell anybody that they bought it until their targets are achieved.

That is true but the price difference from $3k to $19k was a huge rally but when it comes to the valuation at the moment people like me who earns below what the price of bitcoin is right now annually cannot make a difference along with millions of other middle class investors and the price of bitcoin depends upon how the institutional investors keeps on investing in them and how long they are willing to take the risk.

this is the important part that some people don't seem to get yet. it is not surprising either we had the same thing back in early 2017 when price had reached $3k for the first time and they were all crying about how bull market has ended and the dump should begin.

He can't really make it silently because as soon as he does that he has to let people know on official papers, Tesla can't put 1.5 billion in bitcoin and only Elon knows about it, there needs to be a lot of people who know about it beforehand and also they put in paperwork to let shareholders and SEC and so forth know about it and obviously news hear about it and so forth.

He didn't tweet about buying 1.5 billion dollars worth of bitcoin as well, go check when it happened and his tweets before that and you will see that he only talked about it afterwards, he talked about doge a lot though, if they bought doge that would have been a bit risky. That is why I think Elon didn't really talked about it or tweeted about it to make more money after he bought it, he just likes it and just like you and me he wanted to talk about it, just because his company bought a lot doesn't change his rights to talk about something he wants.

I agree. Its always important to try to look behind actions of ppl and who would benefit from those actions. If Elon simply wanted to invest in BTCUSD he could have done so in silent. Tell no one. Just as you would not tell ppl everything, right? but then he announced it on twitter as he knows he gets big attention. the H4 candle was up 4k I think it was. Not sure but pjrice went up for a while after that Elon tweet. So yes he may have had something in the back of his mind.

All in all I still think he is a good guy who tries to make the world a better place. Looking at his history, he definetaly came from nothing, was nearly bankrupt many times and always managed to keep his projects alive. He could have stopped after selling PayPal, and just sit back and relax and have a nice life on a big ass boat. But he did not. He started a revolution in the car industry. One man changed one of the biggest industries on this planet all by himself. I pay him respect for that. Then he was the first one to actually recycle a space rocket, in terms of using it multiple times. Nasa flies to space for 60 years now and never thought about reusing a rocket? Okay, they had space shuttles, but somehow stopped developing them. So... I like Musk for he never gives up, and sets goals so big one cant ever achieve them. But thats why he gets where he is. Setting huge goals and reaching only 80% of it, is better than setting a small goal and easily make it there, right?

It seems that the attention to Elon has decreased when I see the greatest concern is in the US stimulus package. And then what happened next, we could see new discussion topics like Biden VS Btc, Xi Jinping VS btc, ....

I agree though, McAfee and Musk are way too different personalities are far as crypto goes.

McAfee an obvious shill to ICO projects in 2017, and majority of projects he shills is scams.

While Musk, has 'walk the talk', you can call his tweet borderline troll though, but that's is. He doesn't specially say buy this and that, not specific and it's funny tweet because even tweeter sphere lit up, when he trolls crypto or someone.

You can really differentiate the two when it comes to shilling out something but its comparable into someone who doesnt really need money like Musk where he wont really be ruining
his own reputation by just shilling out some coins just like on what McAfee did in the past.

He do make out some tweets on where the masses do really take it seriously anytime he do publish those.Some people do really have just bad impressions
when it comes to this and making out those speculations or claims that the thing he's been doing is already on the manipulative side.

@OP Its really up to the company's board members and directors to decide if the price they are seeing now is undervalued or not as I have never even imagined that Elon Musk will be entering above 30,000$ since for me it is a little to steep considering my average bought price for Bitcoin.


Believe me or not he will become the most hated person on Earth even outside of the crypto industry as definitely him only benefiting from what others have did to pump Bitcoin up and then him leaving will just make him a selfish man on a lot of eyes. He will hurt more than what he will gain I can see people not supporting his products from his electric cars to his flame throwers all of this won't be bought by people and their friends who have been affected.

In all honesty: I think Elon was simply trying how big his power is. He tried to be a "Donald Trump for Bitcoin". Imagine, you are one of the richest ppl on earth, and many many ppl follow what you say, only because you tell them to. So... when he decides to invest into anything and then post it on twitter, there is a high chance that many ppl will follow his lead. So...
What if Elon tried the biggest pump and dump in history of BTCUSD?
I like Elon and what he does, but he's only a father too, and needs to pay bills. So maybe that BTC investment was only a short term thing to raise money for a new project? Or simply to see how far he can push prices?

In my own perspectives about that massive pumps after Elon's investments, I am grateful that the outcome is good. Despite of the volatility of the market, it doesn't fail with our expectations because many people who've been patiently waiting took their profit. Regarding the amount invested by Elon Musk, I don't think declination of price would tend to occur badly because it now became a strong pillars of btc which I believed this guy choose to trust.

I think any individual or Corporation sitting on Huge cash and understand the worth of this Digital asset, would like to take advantage of current Bull Market. There are many more corporations( Microsoft, Apple, Alibaba) who will certainly follow Elen Musk to improve their Balance sheet by investing in Bitcoin. What price escalation we have seen in BTC during the past six month , it is just beginning , Best is yet to come. The BTC is again in Bullish trend and next likely Target is 65K.

Answer:

A smart one.

After the little correction down to $43k, we're right back up over $57k again.

Yes, the Elon Musk news may have been the spark that triggered the rise from under $40k to the ATH, but it was destined to happen anyway.

This bull market is still young.

you can't really compare the two.
McAfee was a scammer who was trying to make money by pump and dumping shitcoins and also getting paid to advertise the scam projects of 2017 known as ICOs.
Musk on the other hand is a bitcoin believer who has bought bitcoin and likes the technology so he makes some fun tweets about it from time to time to troll the community too.

all of them have their own stand and arguments, so if something is said that is not liked it could happen but not for the purpose of harassing. So it is only natural to provide an acceptable counter argument, because freedom cannot be prohibited as long as it does not attack an individual or group that is clearly cornering.

yes, as long as the objective is to seek profit, then everyone has the same rights, maybe in an unusual way and that is their right because he who has the funds for that he has the right to decide what to do next without anyone being able to intervene.

Just to be fair with Elon Musk, crypto is full of FOMO.

Remember John McAfee? Yes, the eccentric guy who uses twitter to make more money and create a lot of FOMO back in 2017, and that $1 million bet on bitcoin otherwise he will eat his manhood? That's the ultimate FOMO in crypto.

So it's debatable, a lot of pros/cons about Musk tweet, I guess it boils down as to how we are going to take it, see if we can squeeze some money out of this FOMO and then get out before it burst.

Just my personal opinion, Elon Musk's tweet is unhealthy for the crypto industry because he created a FOMO, and people who don't have knowledge will potentially loss their money. It's so good because Elon Musk support Bitcoin and other cryptocurrency but making a FOMO is not good for us and for the haters

Elon Musk has more money than you. Elon Musk is better with money than you. Elon Musk believes Bitcoin will go up in price. You seem to believe it will go down. Let’s check back in this thread in six months and see who is better with money, you or Elon. My money is with Elon.

You could always get a clear idea of what you think will happen depending on whatever you want to believe, there isn't a person that will convince you and you are already closed to others answers as well with "I will be attacked by btc supporters" as well because you can consider everything an attack.

Let me help you realistically and logically without "attacking" you, maybe it would be of some sort of help for you.

What I consider to be MY reason (can't talk for others) the fact that bitcoin is anti-inflation, which is why if the price is not really that bad that means dollar loses value whereas bitcoin gains value over time, if that is the case then how could we not invest into bitcoin?

We definitely really do not care about what is going on with the fiat world because we know that it is a failing one, but the reality is bitcoin has so far been working awesome so far.

I think that the main problem here is timing and not the bitcoin actually. It's silly to invest in an asset when it's price is at peak but maybe Elon has some plan, he really has the power to make its price go up.

I would call any investor a silly who invested in 2017 when the price was 20K and I know a lot of people who invested when it was at peak and then lost their houses, reddit was full of such posts, know such people in real life too.

Work Hard Work Smart. Better to catch all moments, not every moment!

The thing you said was right which it isnt really much off needed and with just some mix of common sense and determination you can actually able to make profits and that one
doesnt really need for you to be professional but well you can really tell the difference to those who had really some knowledge compared to those who havent none.

Speaking of those early investors then we can say that theyre indeed a bit lucky or been mixed up with that since the market rose after several years later on which it did
result to secure big profits.About sentiments of those big people making out some words on this market neither affect or not on point.

It is a well-known fact that Bitcoin is extremely volatile, and that is exactly what you are talking about. Investing in Bitcoin or stocks is a lottery in a way, but tell me what in life is not a lottery?

I will tell you that you are mistaken when you say that price movements cannot be predicted, because every year after halving was extremely bullish - and we are just in one such year in which significant growth was expected. The fact that people did not want to listen at the end of 2017 and the beginning of 2018 is a completely different problem - just as they completely identified the beginning of 2021 with the beginning of 2018, so they mostly sold everything they had, and now they wonder why the correction did not happen.

People who can't understand the basics of the market and how Bitcoin works will always be the ones to lose - in other words, not everyone is capable of being successful in everything they do.

Many of us here are not professional investors, and yet many of us here are making a lot, I have a lot of friends who are inexperienced and first time investors and yet they are doubling, tripling their investment, what more with professional gamblers with clear mind, it's not rocket science really and you don't have to go to Harvard to know how is it to invest in Cryptocurrency, the fact will just present itself.

@atenolol. I am quite certain there are types of Wall Street traders who like more volatility because it places well with their trading tactics. I reckon day traders of penny stocks might discover bitcoin and other cryptocoins very attractive for trading. Where can they find a return on investment of 3x in 1 week that occurs every week during a bull market?

The same thoughts of other people when bitcoin once got in $10k and then broke $20k. Don't you worry if you think that you'll ever be attacked, don't be hurt by others' words because your words might also hurt them. But just as about the sustainability of bitcoin's price, just because we're in a correction, there are questions like this that's being asked. If there were those institutions and retail investors who have invested at the peak, they're just the same as those who have bought @$20k in 2017. They just have to hold.

This is a complex question that any minion like us cannot understand because majority cannot risk their life savings to invest when the price is rallying at an all time high valuation but billionaires have the freedom to invest and they might be having a threshold and plan on when they will be booking their profit and we only hear about these huge investments but we never hear when they are booking their profit.  

Don't get confused about bitcoin or the pendulum it moves. Institutional investors are now taking over and they don't worry about price and that is why btc market cap keep increasing. Don't compare 2017 and now, not the same. I think the era of 2018 or 2019 drop has become a past.

Around 21 December there were news about MicroStrategy buying more 30000BTC and some had back then this same reaction: why on earth would they buy at ATH?
Well, after Christmas new ATH kept coming one after another showing that they had proper "clear mind" and those doubting them were ... incorrect, to keep it nice.

I tend to believe that Tesla team (I guess that you are not honestly believing that Elon decided this all alone) did quite some thinking before this move. And I tend to believe that they had "clear minds".
And I tend to believe that they are right, despite the current correction.

lol i don't know what any amount that i might have invested in bitcoin has to do with anything that i said? now i'm starting to think that it wasn't a newcomer's confusion, it was a newbie attempt at FUD

People who believe in a positive future for Bitcoin will invest.
People who try to invest looking only at the market charts will face the risk of volatility.

A person who invested believing in a positive future will not lose anything, because if they lost, they did so by trusting their instinct. That will give them a new lesson, and that itself is a gain.

So in short, people who gamble will always face market risk, people who invest for the ideological reasons (i.e buying stocks to hold a share of a company etc.) will be rewarded with either the gains or a sharper intuition.

This is just my view about it

So, the whole wall street is related to criminal activities ?  Please share some evidence. I'm sure it will be very interesting.



WOW..We have a new BTC Vanga here... So you invested @$400 and now counting your millions? OFF TOPIC. If you want to advertize your vanga topic this is not the place to do that. Open a new threat.

it didn't skyrocket and it wasn't a couple of years.
price has been skyrocketing for about 3 years now starting from the day i started the topic about the upcoming FOMO and price was below $4k.

every bitcoiner has always been wishing for wall street criminals to never enter bitcoin, if that's true today more than ever then we are all happy

for what? i don't see any reason to thank you or attack you. you just stated your confusion in the form of a question. it is understandable for newcomers who don't look at the bitcoin history.
you are confused because you think bitcoin price can only go up if "wall street" criminals enter it while you don't know that for more than a decade bitcoin has been rising just fine.

I am saying that is it like a lottery since BTC reached 20 000 in december 2017. After that it managed to go under 4 000 in january 2019. Since then it went up and down like a pendulum and there is no way to predict which direction it will go. That's what I am talking about and not about early investors that like you mentioned achieved an ROI of as much as 32745.69%

In fact, I think bitcoin's new ATH accomplishment has a huge bearing on and a bit of admiration for Elon and Tesla.  He has it all to leverage and create leverage that is very conducive to the market trend, Doge coin for example.  Wall Street were the people who had the elastic bands on and had no reason to cause huge loss and noise for this correction.  A bit of randomness, but I think similarly 2017 the teeth of stocks were the chance to damage bitcoin that year.  This time Elon did something very different.

No one will attack you, everyone has the right to write what they think, it's just a matter of whether there are facts or completely unfounded assumptions behind something.

Let's say this post of yours really doesn't make sense to me personally because you are referring to the price of $57k - and we are currently at $44k. All those who know the history can clearly see (even on the page you linked) that BTC has achieved impressive results in a little over 10 years of its existence - and that every intelligent investor sees a much broader picture than the one you take into account at this moment.

Counter-question for you - which investor with a clear mind would not invest in an asset that has achieved an ROI of as much as 32745.69% since 2013?

Don't look at assets by unit price but rather market cap.

Overall, in market cap, bitcoin itself has reached $1.3 trillion. Its up to you to decide for yourself whether you think that is overvalued or not.

I'm not sure when musk bought his funds but recently there's also been a drop down to $44000.

After announcement that Elon Musk invested billions in btc, the price that was already high, skyrocketed just in a couple of days. A lot of rumors about huge wall street investors started to appear. But I have a very short question. Which "Wall street" or other professional investor with clear mind would invest in THE MOST VOLATILE COMMODITY IN THE WORLD  after it reached $57 000

https://coinmarketcap.com/currencies/bitcoin/

I know that I will be attacked by BTC supporters, but you are welcome.