Elon Musk is one of the keys to be 100k$ per Bitcoin?

[saintm245]

Elon Musk is indeed one of the most influential crypto enthusiasts, but there are still many factors that factor into Bitcoin being able to reach the new ATH. So Elon musk is neither the key nor the only person who will make Bitcoin hit the $100k price tag.

[Dr.Bitcoin_Strange]

Dave initiated the conversation on April 27, 2021, and it was on the same day that Mr. Musk responded. One bitcoin was worth $55k at the time, but by November 2021, the price had risen to $68k, not $100k. If Mr. Musk's company sold 10%, they would still hold a huge sum of Bitcoin. Despite being known as a crypto influencer, Elon Musk is not a factor in Bitcoin's price. Mr. Musk is still clutching his Bitcoin and Buying more.

At the beginning of last year, Tesla said it had bought Bitcoin that was worth over $1.5 billion, but towards the end of 2021, when the price of Bitcoin spiked, Tesla again sold off 75% of its Bitcoin investment and realized $2 billion. They still had about 25% that was not sold .

 Now that the market decline is still going on and on, only hell knows how many bitcoins Tesla is buying without making a public announcement about it.

@OP, Mr. Musk is merely a wise investor and not the price factor of Bitcoin.

[Woodie]

As much as i want to agree with you on this one, I don't like how Musk carries on with his business because he positions himself to be  judge, jury & executioner and for  bitcoin to grow it doesn't need someone that fits his profile as his the kind of person that can put the last nail on btc, which means we need to stay away from him asap!!!

But what i would love to see from Musk is him shilling an altcoin like he did for dogde and bitcoin can indirectly benefit from him.

[Kelvinid]

As much as i want to agree with you on this one, I don't like how Musk carries on with his business because he positions himself to be  judge, jury & executioner and for  bitcoin to grow it doesn't need someone that fits his profile as his the kind of person that can put the last nail on btc, which means we need to stay away from him asap!!!

But what i would love to see from Musk is him shilling an altcoin like he did for dogde and bitcoin can indirectly benefit from him.

Despite the thing you don't like him much but you have nothing to do as he does not care for you as well. In this world, manipulation is going strong, politicians, celebrities, and those in the government position, are the people who make use of it. And it was because they have the capacity to do just like Elon Musk in crypto. Perhaps, we never really know about him in personal but we know him because of his influence in social media and I see his participation in crypto give a huge impact on the situation.

[Invester]

Bitcoin will hit $100k without Elon Musk. The cycle has not been broken and it will continue for long. More and more people are hearing about Bitcoin. Once they will understand the importance of decentralization and its limited supply, there will be more adoptions to come. Without the likes of Elon Musk, Bitcoin might move slowly but organic.

I have no hate on Elon Musk. I recognized that he can influence the movement of the price of Bitcoin with his hypes but only temporarily. Elon Musk adopting and supporting Bitcoin is another story but there were also billionaires who did it earlier than him.   

[Lizzylove1]

Bitcoin is a financial movement that is independent of the richest men and companies in the world, Elon Musk and Tesla inclusive. These class of people don't determine the direction and circles of bitcoin market, they need bitcoin more than need them, we know the fiat is crashing we need a decentralized currency to preserve the value of our wealth and bitcoin should be the answer in the long run.

[Woodie]

Despite the thing you don't like him much but you have nothing to do as he does not care for you as well. In this world, manipulation is going strong, politicians, celebrities, and those in the government position, are the people who make use of it. And it was because they have the capacity to do just like Elon Musk in crypto. Perhaps, we never really know about him in personal but we know him because of his influence in social media and I see his participation in crypto give a huge impact on the situation.

LOL  unfortunately you are not the business tycoon he is, and for your own information runing a successful business is all about numbers which means if he can onboard me and you directly or indirectly that's a plus to him and his company and not your perception of how he runs things. Anyway what would you know you aren't a business mogul  .

Bitcoin is a financial movement that is independent of the richest men and companies in the world, Elon Musk and Tesla inclusive.

For Bitcoins value to grow it needs capital injected into it and to get the kind of capital needed it does need the likes of Musk and other big companies out there.

These class of people don't determine the direction and circles of bitcoin market, they need bitcoin more than need them

The subject of whether we need Elon Musk or not is very much debatable, but the man has proven himself to command some influence in these crypto circles and we shall leave it at that.

we know the fiat is crashing we need a decentralized currency to preserve the value of our wealth and bitcoin should be the answer in the long run.

Fiat needs no introduction as its already a successful asset, as for bitcoin on the other hand it can not survive on its own as it remains a speculative currency and any whale wanting to invest in crypto will always look at the risk factor.... Nobody goes in blind without weighing the potential benefits that come with cryptocurrencies.

[freedomgo]

Elon Musk is a great investor. Invested huge amount in bitcoins but he sold them at one point and the price of bitcoins went down a bit. He was personally investing in altcoins which did not bode well later. But if he invests bitcoin now in present then bitcoin can give some movement which will be of great benefit later.

Yes, indeed he is! But we cannot really verify that particular information that Elons Musk, at one point, indeed sold his Bitcoins and partly the reason why the market declined slightly. I mean he can't possibly give that effect to the market because bitcoin is much different from doge where he can manipulate the market. However, one of his companies, Tesla is the one who sold their bitcoins, I think 75% of it was sold.

[YOSHIE]

Do you think Elon Musk is one of those who will push the price of bitcoin up to reach 100k$ each when the bull run comes?

I have seen and read many times, especially about the increase and factors influencing the price of Bitcoin in 2017 that has passed, No, a lone whale didn’t cause Bitcoin’s 2017 rise, that's an example and I also learned more about the main streams causing the Bitcoin price to go up.
Example:
• Bitcoin: why the price has exploded – and where it goes from here

The move mainstream
This time, big names such as billionaire investor Paul Tudor Jones and insurance giant MassMutual have invested heavily, while even former naysayers like JP Morgan now say that bitcoin could have a bright future. This all helps to increase trust in the cryptocurrency and indicates that it is becoming more mainstream.

One reason for the massive price rise is that there has been a big influx of investors from large-scale institutions such as pension schemes, university endowment funds and investment trusts.

From some of the sources and data that I have shown above, of course I conclude, Elon Musk may have been one of the factors behind Bitcoin's surge yesterday, but not entirely there are several other factors that boosted the Bitcoin price.

What I believe is: if the price of Bitcoin rises to the level of $100k, it's not because Elon there are other factors that can affect the price of Bitcoin, maybe as happened in 2017, that's my assumption about the price of Bitcoin going up.

[noorman0]

Elon Musk is a great investor. Invested huge amount in bitcoins but he sold them at one point and the price of bitcoins went down a bit.

Let's take a closer look. If I remember correctly, Musk started coming in a few months leading up to the 4 year bitcoin cycle with some of his announcements about support to bitcoin. And in the next new cycle where the market started to move downwards, he announced that he had sold most of the bitcoins. He's great at setting up momentum as if he's controlling the price, but only influencing his followers.

[mich]

Well I think now he has officially moved into Twitter and even brought his own kitchen sink.  Now we must wait for the price of Bitcoin to reach 100k.

https://www.youtube.com/watch?v=VogIjvdk6JY

[boyptc]

Now we must wait for the price of Bitcoin to reach 100k.

And it will be with or without his help.

Bitcoin can stand alone and reach $100k without him. If he's not there, the institutions will be moving on their own and rushing to take those cheap bitcoins that they're seeing in the market.

But basically, Elon can't get out on this market as he sees that he's good at manipulating it. He can make millions by the just Tweeting something that many will depend their decisions whether it'll be some positive tweets telling to buy or not.

[YUriy1991]

The cryptocurrency market is highly volatile and full of ups and downs. I think there has to be a better understanding between centralized and decentralized currencies before we can move forward with this kind of technology in our daily lives.

Elon Musk is probably one of the future big influencers in crypto. But we can't count on him to do it alone. The community must help itself to make bitcoin mainstream.

I believe that there will come a time when Bitcoin will reach 100k$ per coin. That's assuming that Elon Musk manages to stay alive until then. Too many analysts have predicted the end of Bitcoin almost every month, yet the market continues to rise and fall.

[Antonas1]

Did anyone notice the date around which the OP formulated his post? The article and the tweet are from April 2021, ~

Haha. In fact, there are many people who aren't aware, expired tweets are forced to be analyzed.

If Elon could really control Bitcoin prices, he would have done it since he bought Bitcoin for the first time, but he knows he can't, as simple as that. Even if someone says he can, it's a big risky gamble.
After all, why do people have to depend on Elon's tweets when they wanna buy some cryptocurrency? Or maybe you really like being controlled by him?

[cheezcarls]

-  Good day to all my friends here on this forum, based on what you can see in the picture the two @Dave Portnoy and @Elon Musk had a short conversation about their Bitcoin holdings. And Elon Musk did mention that there hasn't been any bitcoin for sale since he bought it. Is the question true that Musk mentioned that he posted on the Twitter platform?

In addition to this, many of us in this industry community know that the price of bitcoin will increase by around 100k$ or more, there is just no certain day and year when it will happen. Also, we don't even know how many bitcoins Elon Musk holds, but he is one of the biggest holdings of bitcoins in the world today.

Do you think Elon Musk is one of those who will push the price of bitcoin up to reach 100k$ each when the bull run comes?

Your opinion is much appreciated


Source : https://cointelegraph.com/news/i-have-not-sold-any-of-my-bitcoin-elon-musk

I don’t think Elon boy can repeat the hype again like he did early last year. There’s not going to be another guy who is going to be the next “Elon Musk” who can hype the market again.

I can say that hype is one thing that would bring Bitcoin and the entire crypto market back to bullish times again, but time will tell on when will it actually as it has no promises or guarantees.

[Daltonik]

I don't think Elon Musk will be the main driver of the bitcoin price reversal to rise to $100,000, because he already tried to do it, but then Tesla sold a significant part of its bitcoin reserves, more precisely 75%, and at a loss, thus proving that they did not buy it for a long time. Of course it can have a positive impact at some stage if the market is favorable.

[Natalim]

It is a false hope OP.
Not really I see he have no influence in the market as he really had but not really I saw he can do it. Bitcoin will reach $100k someday because of the huge shared market demand and not because Elon Musk encourages people to do this. The price will rally soon because the moment has come like we are bullish. I know he can be a contributing factor to the price rally but it was not easy for him to do it, especially when many investors are not believing his words anymore. I believe the fact that Bitcoin is decentralized.

[Jeromejsea]

Whether Elon musk supports bitcoin or not, whether he opposes bitcoin or not, whether he hodl his bitcoin or not, whether he sells all his bitcoin or not, whether Tesla accept bitcoin or not, he can't have any effect on bitcoin in the long term.
Bitcoin can reach 100,000 dollars regardless of what Elonmusk does with his bitcoin and what says about bitcoin.
Elon musk could do some manipulations in the market with his tweets in the past. But I doubt his tweets has any more effect on bitcoin and I don't think he can affect the market significantly even in the short term.


I am not saying bitcoin will reach 100,000 dollars and this is not a financial advice. Everything is possible.

I have always thought about this. It's not same for just one person to control a huge project like Bitcoin. And it's not his fault though. It's the fault of everyone that wants him to talk on the next move of bitcoin. It's so sad if just one person  can control the market that much.

[len01]

I don't think Elon Musk will be the main driver of the bitcoin price reversal to rise to $100,000, because he already tried to do it, but then Tesla sold a significant part of its bitcoin reserves, more precisely 75%, and at a loss, thus proving that they did not buy it for a long time. Of course it can have a positive impact at some stage if the market is favorable.

and when elon musk sells some bitcoins held like you said 75% that some smart investors can judge that elon musk can't really control the bitcoin price because he himself actually sells some bitcoins he holds just to cover losses.
i think elon musk will really never be able to control the price of bitcoin after what he did. and bitcoin is also not centered on anyone so it is very difficult to happen

[suzanne5223]

Well I think now he has officially moved into Twitter and even brought his own kitchen sink.  Now we must wait for the price of Bitcoin to reach 100k.

https://www.youtube.com/watch?v=VogIjvdk6JY

Elon Musk is a drama king I guess this is the reason why he's friends with Kanye West. Bird of the same feather.
About him driving the price, tell me you're just pulling our legs.

I don't think Elon Musk will be the main driver of the bitcoin price reversal to rise to $100,000, because he already tried to do it, but then Tesla sold a significant part of its bitcoin reserves, more precisely 75%, and at a loss, thus proving that they did not buy it for a long time. Of course it can have a positive impact at some stage if the market is favorable.

Is a matter of thinking because Elon Musk's influence power in the crypto space has reduced and you can justify that base on the power of his tweet about DogeCoin some months ago and how his tweet influences the market now. Besides, Bitcoin is not an altcoin that's always manipulated and I don't the $100K to happen now and in the first to second Q of next year's market.