RE: ELON MUSK AND TESLA - the blessing of a threat for BITCOIN and crypto space?
Tesla owns a relatively competitive amount of bitcoin but they are increasingly getting surrounded by like minded deep pocketed investors, hedge funds, insurance companies, corporations putting bitcoin on their balance sheets and now recently Banks. Don't kill the messenger. Elon Musk knows the media and knows how to utilize it.
I think it's unfair to state Tesla hasn't much to offer. They're eons ahead of the other space race contenders, Richard Branson and Jeff Bezos. They're far from just a car company and the company is innovating and not copying.
Part of the reason TSLA is priced as it is, I believe is partially due to all of the short sellers that attacked the company and tried putting it to death getting pounded by what I believe was the start of wallstreetbets.
The dollar is garbage so maybe TSLA is at fair value. Even to the contrary if the market ever seeks fair value TSLA along with every other stock will likely follow the market because if this happens there will likely be a credit crisis and frankly all hell will break loose in the entire financial sector only leaving bitcoin as the only sound money to turn to causing it's scarcity to compound.
The way the entire world is mired in compounded derivative debt I believe is much more concerning than any other factor I can think of .
BIG THX for your amazing comment @bitshares101
I was wondering: is there any way I could "connect" with you? Do you use Discord by any chance? You surely have serious knowledge and I would like to get to know you closer, and perhaps encourage to publish within our Project.hope community
ps.
I found it interesting that just few days after this post, shares of Tesla on stock market crashed down rapidly and BTC crashed as well at the very same moment.
It's hard not to see huge corelation between those two. Wouldn't you agree?
ps. you may also find my recent post interesting :).
Cheers, Piotr
There is definitely a correlation while other factors like the entire tech sector making a correction, btc needing a breather after hitting 58k and Janet Yellen spewing negative remarks all working in tangent fortifying the recent event.
Having such extremely highly leveraged markets btc/crypto seem to go in both directions in a far from orderly manner. With the advent of 100x leverage, I constantly wonder how many times traders can get their entire position wiped out before they stop recklessly going for broke and getting recked, and perhaps the answer is never when you consider all of the casinos that have popped up through the years yet hardly putting a dent in the popularity of Las Vegas.
With keeping an eye on the aggressively rising bond market it's best to be said that trouble is a brewing and there will likely be some radically strong changes coming to the future of the market in general.
Again, thanks for dropping by @bitshares101
The answer surely is NEVER. Greed is one thing. Not learning from mistakes is another one. And the fact that those who will burn themselfs now will be replaced with new fresh-blood in next cycle in few years - that's another factor.
People love idea of following "get rich scheme". Greed, greed and again greed. And lack of patience.
Cheers, Piotr