Tesla Buys Bitcoin
Greetings,
Elon Musk, A.K.A #Tesla, just invested $1.5 Billion into Bitcoin apparently. While that's a lot of money to most of us on this planet, it's experimental money for people in his class of wealth.
Also, people like Elon Musk are not under the same financial pressure to sell at profit as are investment banks and hedge funds - they often invest in this sort of thing for the tech and utility. Love him or hate him, Elon is a futurist, and he's seen the writing on the wall concerning cryptocurrency.
Apparently the Nigerian government is the direct opposite of Tesla, but that's a story for another video.
What I'm saying is, I think he's going to buy more. The first round of investment was probably done mostly over the counter. When over the counter bitcoin starts to run out, he (and other would be billionaire investors) would be forced to buy in the open market. Then the real fun will begin.
For now, I've revised my expectation of a $100k #bitcoin to a $500k target in 2021!
None of this stuff is financial advice so don't #FOMO on my account :)
Peace & Love,
Adé
I actually find all this totally depressing. Seems like just a power switch. Soon governments and monarchys won't be in control but corporations and rich individuals will have even more power than they already do. And the rich/poor divide just gets wider and wider. I thought the whole point Bitcoin was created was to give power to the people. Maybe that was just an urban myth. 😢
Posted Using LeoFinance Beta
it gives people the power to have their own bank, and transact without friction. It will enable the poor man, level the playing field somewhat. The same way the internet allowed small man in his garage to set up shop and basically take over the high street. The internet is HTTP, hyper text transfer protocol. Bitcoin is Hyper value transfer protocol. It will do the same thing as the internet. Change everything.
That's a great way to put it!!
Posted Using LeoFinance Beta
Thanks for the different perspective. Seems I went ranting off at a bit of a tangent!
Got my wires crossed. 😂
!ENGAGE 50
Posted Using LeoFinance Beta
ENGAGEtoday.I think Bitcoin seeks to give the power of banking back to the individual. You can up and go anywhere in the world with your money without someone telling you where you can or can't take it. I think that's the idea. .. but since it's free for all, the right folks can get in on it too. Luckily most of then wont get in early, which is an opportunity for the poor folk to get some wealth too.
I plan to join the rich side of the divide lol.
Posted Using LeoFinance Beta
Ah yes. That's me getting my knickers in a twist and extrapolating out, creating my own misinformed urban myth. 😂
I blame this bloody lockdown. It's making me a tad kranky.
!ENGAGE 10
Posted Using LeoFinance Beta
It's not totally a myth though. People who have those ideals have embraced Bitcoin as a tool of making it happen... but that's the nature of freedom. The Monarchy is free too :)
Posted Using LeoFinance Beta
ENGAGEtoday.