Elon Musk Buys Bitcoin!!! Get Ready for Mars — The Elon effect

The Elon effect

https://twitter.com/elonmusk (44M on Twitter)

SuperStar power — Etsy Pump on Tuesdays seems like a test run for a Bitcoin Pump up 19.46%. 2-hours after Elon posts on Twitter.

As the business magnate comes out in support of Bitcoin the price gets ready for Mars. “In retrospect, it was inevitable”, he posted 4 hours ago. Saying with little context on Twitter without an official press release, very much in his style. We don’t know how much of his $184 billion he intends to hold in crypto coins. I will not be surprised if I see Dogecoin on this list.

On Tuesday Elon’s star power got a flex. Etsy stock jumps 9% after a tweet ‘kinda loves it’ and revealed he bought a hand-knit ‘Marvin the Martian’ helm for his dog named after the character

  • Etsy sock popped in pre-market trading but quickly gave back the gains
  • Market watchers called the move ‘ridiculous’ and evidence of ‘peak dumb’

The trend of influencers affecting massive market jumps is so clear. I had to write to tell you about it.

Integration with Tesla and SpaceX services hold the fate of bitcoin in this hype bubble. To see sustained price motive there needs to be multiple useful ways to spend Bitcoin. Tesla products have high disability, this could bring in a large volume of the coin to the companies and offer current crypto holders a way to release their wealth held in the coin. Bringing customer interest to his companies is extra.

As the market for Bitcoin is young, price action is volatile. Large coin buyers affect the whole market. Big trades can be seen from the trading volume with a subsequent shift in price. When big plays try to leave we all feel the drop in price. The same is said for large companies transferring the companies wealth in bitcoin. The price gets a pump and the market reacts to this support.

Cultural figure in entrepreneurship Elon has predicted the trend on numerous occasions. We know how smart he is with the success he has had in the modern age. Innovating at the front of the internet. The “Paypal Mafia”, is code for 5 of the founders for Paypal. Each building massive influence in Silicon Valley’s Finacial tech industry. All go on to successes as CEO’s, CFO’s and founders

Last, straw till prices go sky high? — If WSB MOB gets involved — Will there be a wave of other industry influencers shifting their opinion to join Elon?

Mr Beast is in on the Bitcoin too

Check out my first medium article talking about Bitcoin as a currency for space. Seeing this you might think I’m on to something…

Jeff Garzik wants to make satellites part of the Bitcoin network to help secure the currency against attack.

Paying for Tesla products via bitcoin

Brand merge company with Bitcoin — vanguard for Bitcoin — Businessman and women have been coming out in doves supporting Bitcoin. However, we are yet to see major retail companies taking payments in Bitcoin or Altcoins. If the Elon’s empire integrates with Blockchain he might create a whole wave of revolutionized payments. SpaceX took Bitcoin on when the Winklevoss brothers bought their seats to the moon via Bitcoin.

Support of Bitocin and Elon’s mission go back with popular names often question when this investment was going to happen.

Tesla’s new expansion into the home power and HVAC sector shows the range of products they are considering. In the decades to come, I see a fulling powered by Tesla Lifestyle.

Why be surprised if you pay with Bitcoin?

“We think of bitcoin like internet gold,” Cameron Winklevoss told Portnoy in a video that’s been viewed over 500,000 times on Twitter. They went on to say Elon has spoken about needing a payment system for space — Coming from the creator of Paypal it’s the biggest validation you could ever want.

“Bitcoin is a safer bet than gold due to Elon Musk’s [plans] to mine the precious metal from asteroids.” Cameron Winklevoss told Portnoy

I can’t give official advice as I ask for you to make your own decisions based on your own research.

My thoughts

Waits for the hype to calm — Once we reach $42,000 I see the price making a blue sty break-out to $50,000. There is a line of support at both these prices that signal for a bullish deviation to break the current highest price.

I am long in Bitcoin. Personally, I see the value of bitcoin as a potential store of wealth for me to invest in my business. First time I bought in 2017, seeing the 2018 hype now I see a serious future to the currency. As companies accept bitcoin in retail, the demand will grow and those with supply benefit form their position.

The Great Re:Set is something I have seen from The World Economic Forum and other international bodies. No one seems to know whats this means. However, it is clear that a shift is coming. Futureproofing for this with a decentralised blockchain is protection from this. I feel that Elon has seen; what’s happening with the price of bitcoin, The Fed printing dollars and the Lockdowns slowing economies worldwide. Payments are going to change soon and blockchain seems like a more and more valid option.

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