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Author Topic: Why was Musk so late to the party? / or Publically support BTC  (Read 386 times)
finaleshot2016
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February 11, 2021, 06:22:51 PM
 #61

Musk was involved with paypal, and has access to a lot of high tech and high tech advisors.

Why then was he so late to support BTC?


That is means, it's never too late to invest in bitcoin even its price is high already. You can buy bitcoin at any price conditions, you still have a chance to get profit. Many people especially those who just new to invest in bitcoin he wants bitcoin price to fall first so as they can buy at the lower price but it is rare to happen especially when bitcoin price in the bull run market.

I think bitcoin has a real value and this thing can attract many people to believe it. Yeah, there will be many people who will don't believe that bitcoin can stay until now and being interested by most people until now. When I was newbie, I often to read a lot of comment in this forum who said that bitcoin is the future technology and many people will be interested to it, and now it has happened.
That's not applicable to everyone, can't compare me to Elon Musk who can play in the market while I am just an ant in the market, can't influence the flow. You can buy at any price conditions but take note that every step is a huge risk awaits, if you think that buying at any time is a good idea, a downfall might time then you'll be broke. Bitcoin can attract a lot of people especially when some known person supports it like Elon Musk but still risky to invest just because he invested and manipulated the price, if we had the gut then we are rich by now. It's normal that you're late in supporting but it's wrong to invest at any price condition or at anytime where you feel you want to.
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February 11, 2021, 07:55:59 PM
 #62

He has a lot of other business so maybe bitcoin hasn't got his attention until now and if you are looking at the grandscheme of thing he's not actually that late, bitcoin is not mainstream at all, not everyone know what bitcoin is and the number of merchant that accept bitcoin as a payment method is not much. We don't know how much bitcoin will worth if it goes mainstream. he brings support and attention to crypto so i expect good things ahead.
Do you really think that bitcoin is not mainstream yet, not all stores are accepting bitcoin but as a speculative market the institutional investors are flooding their money and so is the reason the price is around $48,050 when i am posting this.

Elon Musk is a business tycoon but he is in the cryptocurrency market for a long time even though he has not taken it seriously and even claimed that he does hold bitcoin but not sure he remembers where he is holding them back in 2017.
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February 11, 2021, 08:04:57 PM
 #63


Musk just wanna make sure he won't get tangled with laws and tax. He must have tons of BTC all hidden and probably even Monero as well. He had been in crypto longer than we know but rich people are always shady. If he wants to hide something he has to stay unrecognized by the radar. But now that he can't hide being the richest man on earth, he has to reveal himself but not his total assets. He'd likely just how the $1.5B worth of BTC he has to the government but there are likely more than that.


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February 12, 2021, 11:18:11 AM
 #64

My thoughts about Elon still haven't changed even after he declared that he is buying Bitcoin. He is still fucking around. The next level for him is going all-in with Doge probably. Shock after shock for the Tesla holders and everybody else.  Grin

Idk, to me Musk isn't some crazy guy doing this or that randomly. After all, he wouldn't be the world's richest person if he were like this. Yes, he is supporting DOGE with his words, but I think it is more important that he is supporting BTC with his deeds . (Remember, Tesla has bought $1.5 billion worth of Bitcoin recently).

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