Looks Like The Markets Have Stabilized

Say what you want about Elon but the world certainly does look like it exists for him. Not on the relationships side because as you all know, he's on this third marriage and counting. But on the financial side, he's doing top notch.

He lays out some nonsense tweet about Bitcoin and the market goes up. He then says they're pulling out because of environmental concerns and the whole market tanks. Not like there aren't other companies out there besides Tesla.

Then he says they're going to continue to accept Bitcoin and the market goes up again. At this point, it can't all but help feel like a cruel joke for the Bitcoiners who bought on margin, especially low margin. If you bought on high margin, that's fair enough. It's a trade and a gamble. But if you bought on low margin, then you expect to be able to hold. Even 2x would have been risky.

Jack Dorsey has been saying pretty much the same positive thing on Bitcoin and it doesn't even notice. So cruel this Bitcoin is. Ignores the person that loves it and is infatuated by the one giving mixed signals.

In other Elon Musk news, he's selling his last mansion for 37.5 million dollars. Insane. But it makes perfect sense for someone like him to either have it on the corporate account or to lease apartment and have that as an expense to offset his personal income tax. He also gains a lot from crypto so maybe he'll put his money where his mouth is and but 37.5 million worth of either Doge or Bitcoin.

The new Splinterlands governance model

There's going to be a Splinterlands airdrop for a governance token that is tied to the BSC. I'm not exactly sure of the details. Didn't scrutinize the whitepaper. What I do like is the fact that the drop will happen over an extended period of time.

Too often we see a massive bid up in anticipation of the drop and then a sharp sell-off once the tokens are received. The same applies with those that are surprise dropped on us.

With this drip instead of a drop, I do believe that it will encourage HODL-ing. But of course that remains to be seen.

Investors preferring Bitcoin over oil

There was an interview on CNBC with Rich Bernstein about how investors prefer Bitcoin over oil in their portfolios as a protection over inflation.

Makes perfect sense when you consider that oil is going the way of the dodo some time this century. With technological advancement, we can ditch oil and its 19th century tech, for 21st century tech. It won't happen overnight but I believe by 2050, we'll get there.

So enjoy those oil dividends while they last.