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Author Topic: Elon Musk/Tesla buys $1.5 billion in bitcoin, creates another hype for Bitcoin  (Read 140 times)
darewaller
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February 12, 2021, 04:31:06 PM
 #21

what @elonmusk is doing is known to all shareholders if they want to do something, moreover the value is certainly not small and in the stock market they compete with each other between Tesla and Bitcoin. But what @elonmusk is doing has a very clear impact on bitcoin and there has been a pretty sharp increase, but in business we don't know what it does and why it should buy bitcoin.

but as long as it is very profitable in business, of course it will be done even though in the stock market they compete with each other. sometimes it is difficult to read the minds of big businessmen who are very confusing. for them the most important thing is to generate profit for the company.
I think it is not "his" bitcoin but he owns a good chunk of it as well. Remember he is a "shareholder" in tesla as well, probably the biggest one I imagine and he does have a huge chunk of word to say about what the company should do, if he says that company should buy bitcoins, there is really very few that could say no, and if he wants to sell it, there are only a few that can say no as well.

Basically eh runs the company like he is the king and very few can stop him. Plus if company is 100% and he owns (no idea how much he owns) 10% of it, that means if company invests 1.5 billion dollars, 150 million dollars is his shares of the company. That is why I think it is not "his" bitcoins, but if bitcoin goes up, he is going to earn a lot from that too, whatever tesla does that makes profit for tesla would mean profit for Elon Musk as well.

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February 12, 2021, 08:24:59 PM
 #22

I think Elon musk sees cryptocurrency as having great potential in the future that is profitable, so he invested his assets by buying bitcoin and tweeting about cryptocurrency as a manifestation of his enthusiasm for cryptocurrency.

Just to be clear, it was his company, maybe he is still the majority owner, but he has to answer to his board of directors, so it's not all his assets technically. Regardless though, he has somewhat been very bullish on crypto years ago so I'm not surprised though by the news, but it was good to finally hear it from him and his company and make it official.

And the trickle effect is now being felt by the whole market as it balloon to $1.4 trillion. And then we also have the MasterCard news as well, so everything if falling into the right direction as we might be crossing the $50,000 and sets another all time high because of this positive news.

We are all hoping for more adoption news like this one where big companies and big names are really getting involved into this market.We are all hoping for this since from the beginning
and now its gradually happening and also with that hype thing then of course it would really be giving out that kind of vibe specially that those people/companies involved
arent just like small fry.

Crossing 50k isnt really too far away in fact we are playing around 47k atm and a little push will really be seeing these numbers.

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