Elon Musk Researching Bitcoin, Michael Saylor Completes 1.1 Billion Dollar BTC Buy, Ripple Gets Sued

in LeoFinance3 years ago (edited)

Today's Daily LEO features the latest Bitcoin news. Elon Musk teases the idea of buying BTC - wondering publicly if there's enough liquidity out there to meet Tesla's potential demand for BTC in their treasury. Michael Saylor's Microstrategy completes a 1.1 Billion dollar acquisition of BTC throughout 2020 and Ripple announces that the SEC may be filing a lawsuit against them.

Elon Musk Tweets About BTC, Michael Saylor Offers a Helping Hand

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Elon Musk has been known to fire off obscure tweets. His latest is a meme showing the irresistibility of Bitcoin. This comes just 2 days after an interview where Michael Saylor says that he thinks Elon Musk should convert Tesla's treasury into Bitcoin because of the value Tesla is losing by holding Cash. If Elon buys BTC, you can expect the whole internet to lose their minds and BTC to moon.


Michael Saylor's MicroStrategy Just Bought Another $650 Million Worth of BTC

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Michael Saylor is the hero none of us asked for but all of us wanted. He's the CEO of a software corporation that has made it their mission to not only convert their treasury to BTC but also blaze the trail for others to follow in their lead. The company just released a statement outlining how many Bitcoins they currently hold (over 70,000 BTC) and the fact that they've purchased over $1.1 Billion USD worth of BTC in 2020 so far.

Here's a link to their official press release about the BTC buys.


Peter Schiff Continues to Be Historically Incorrect About Bitcoin

Peter is a goldbug and well-known for being outspoken against Bitcoin and in favor of gold. While many in the Bitcoin space actually talk about how Gold will increase in value (but BTC will outpace it) Peter takes the bad approach of saying that BTC is a scam and will go to 0. Attacking the competition is a sign of weakness.

In this tweet Joseph Young sheds some perspective on the situation:

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Ripple Is About to Get Sued by the SEC

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The CEO of Ripple Labs recently came out and publicly discussed how the SEC is going to sue them. They are playing the victim and claiming that the SEC is targeting the whole crypto industry.

I don't buy this narrative. First of all, there has been a lot of positive regulatory news for crypto over the past several months. While there are always naysayers, there have been just as many (or more) people in high positions talking positively about Bitcoin and TRUE cryptocurrencies.

I think the key distinction here is that Ripple Labs is the managing company behind the XRP "cryptocurrency" which is horrendously centralized and by the way, they printed themselves 100 BILLION of it back in 2012 which they sell on a regular basis.


Crypto Scams Return With ATHs

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Where there is money, there are scammers. Ledger's recent data breach has caused a lot of rippling (see what I did there) effects throughout the crypto space. Hundreds of thousands of customer emails, phone #'s and addresses were leaked online.

This data breach is the precursor to a plethora of phishing scams and countless other attacks. I fired off a tweet as a PSA to stay vigilant and always make sure to bookmark your frequently used crypto sites and double check the URL before connecting any wallet (even a hardware wallet).


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Scammers coming to you!

Send me 1000, only 150 LEO and i'll share my 100% full proof secret to avoid being scammed.

hehe :)

Lol yeah just send me 1 BTC and I'll send you 3 back.

Some scams are more obvious than others but a general principle to live by is: if it sounds too good to be true, it probably is.

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Elon Musk is a brilliant man this I know and Peter Schiff is just secreting wishing BTC doesn't reach that unstoppable potentials so his ego wouldn't make him the biggest loser of all time. But then he'll end up becoming that loser. Elon buying into BTC will be huge, deep down he knows this, he has to somehow find new depths for Tesla.

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Either Schiff is secretly buying BTC in the background and just likes having the attention on himself or he's going to go down in history as one of the most blind investors in the world.

I'm curious to see if Elon makes the leap. I have a feeling that he will, but only time can tell ;)

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or he's going to go down in history as one of the most blind investors in the world.

He seems quite illogical in his assertions (Peter Schiff) I'm sure it'll be the later for him, lovely read again.

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Elon Musk is genius one, he know what must to do for huge potentials. Btw @khaleelkazi i see your presentation about upcoming project and roadmad 2021 leo finance on HiveFest yesterday. I'm amaze with your perfect presentation and can't wait for 2021 🤩
My first post explain about leo finance presentation on HiveFest yesterday, if you dont mind you can read my article here 😁

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https://leofinance.io/@cryptociga/futuristic-blockchain-tecnology-on-hivefest

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Haha thanks, I appreciate it. Cool, will check it out

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I received an email from Ledger warning me about the details being leaked and have been pretty pissed off considering I bought my Ledger 3 years ago. Now I'm getting scam emails (thankfully getting filtered by my spam detection) saying that my "ledger device has been blocked - enter your details in this google doc".

PLEASE DO NOT CLICK ON THIS LINK, YOUR DEVICE WILL NEVER BE LOCKED!!

If you are in doubt, contact Ledger DIRECTLY by going to their website and contact their support to ask if it is legitimate. Otherwise, live by the motto - "out the blue, not for you"!!

Michael Saylor is my new man crush for sure - the guy is an absolute beast! The news of ripple getting sued has now completely crashed the price, 14% down in the last 24 hours - so glad I ditched mine earlier in the year (although at a loss, I just consolidated to BTC)!

Great to see the daily video back, love the highlights of the main headlines!

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Peter Schiff keeps cranking the same tired old barrel organ.

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@cflclosers do your thing with the YT

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I got pissed off at ripple for being regarded and sold practically everything last week. Then I saw it climbing after a dip and got excited, glad I didn't try to ride it because 1 day later boom. So much for SEC acknowledgement. They need to repent and burn. They won't.

I'm not the biggest fan of Elon Musk. I think he is a bit of a con man. I lost too much respect for him after the Hyperloop nonsense. I don't think his car company will ever make people money. The stock price is beyond all reason.

The Ripple case is really curious but perhaps also expected since I have never agreed with the thesis that the founders held half of the supply.

Lots of good news for Bitcoin and we look forward to a 2021 full of lots of news for altcoins, LEO and HIVE in the first place!

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Thanks for the update. Lots of interesting stuff going on here. That Ledger breach leaves me particularly unnerved, even though I don't own a hard wallet yet. 😂

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Elon Musk would be an excellent fuel to boost people's interest in Bitcoin.

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The hottest thing was the demand, since this affects the confidence that users have ripple and in the long run can also affect the other crypto currencies

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I know it's probably not what people want to hear, but I honestly don't think Elon is going to buy into crypto at all. He's had negative/troll things to say about it as long as I can remember, and while the DOGE thing is a meme, he's also made it clear he owns something like .25 BTC that someone gave him a while back.

Adding in the fact that he's heavily invested in doing business with the U.S. government and depends on their funding, I just don't think he sees the value. Obviously this is a mistake, but there's also another potential thing to consider as well. If he is or was planning on investing into crypto, there's a high probability that he'd never make it known publicly.

Look at how TESLA stock has reacted to his non-traditional decision making in the past. He barely put a blunt to his lips and the market flash crashed lol. He also has made quite a public show of getting rid of his property because he's afraid of people using it as an attack vector on him and his family. Obviously this is all speculation made based on my observations, but just thought I'd share my two cents as to why we don't see support from Elon in the crypto industry.

(Side note)
I don't think he'll ever make a crypto either unless he does it to literally troll the SEC as they've made it clear they're after him and he's made it clear he hates them. Could be some serious popcorn time if he ever went that route though.

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