A Tesla for a bitcoin: Musk drives up cryptocurrency price with $1.5 billion purchase - As I said before, I don't agree with Elon promoting Dogecoin because it will no doubt lead to a lot of traders getting rekt by an over-hyped shitcoin; however, I had a suspicion he was quietly buying Bitcoin. All this nonsense aside, I genuinely believe this move by Elon is really going to shift the minds of many around the globe. On release of this news, the media was in utter disbelief (Bitcoiners have been speculating this for quiet a while). When I saw the news, it definitely gave me chills; Mainly because now, the richest man in the world is a supporter & defender of Bitcoin. He is beginning to exit the world's reserve currency - the US dollar. This sends a powerful message that cannot be underestimated. Elon is clearly not in the group of socialist-elite who want to enslave mankind (Anyone advocating central bank digital currencies or wanting to ban or further regulate/tax Bitcoin should be an enemy of the people). They do not want individuals to be empowered in any sort of way - speech, finance, freedom, basic human rights. They only care about power & control - they're too accustomed to having it. The fact the Elon & many other billionaires are slowly waking up to inevitability of fiat money, gives me even more confidence governments have already lost.
Bitcoin is a direct competitor to government & central banking. The higher the price goes the more upset & unpredictable they will become. We're clearly building an unstoppable cyber-army here. Let's be honest, if they try to ban or over regulate/tax Bitcoin, they will have to deal with the billionaires first. Elon & his rich billionaire friends will probably tell them to go fuck themselves in a roundabout sort of way (he's done it in the past). Bitcoin's extremely potent economics incentives cause people to fight for it on a whole new level. When billionaires start losing money, they fix the issue - hence Bitcoin. It's the best vehicle on this planet for wealth preservation.
All government revenue streams that are milking their citizens dry, is coming to end. Real inflation is much higher than they make you believe, it's all an illusion. Inflation is not essential for a healthy economy, it slowly decays the social fabric of society. Every market outside of Bitcoin is controlled in someway by government, every valuation is distorted. Bitcoin is the change we need, Elon Musk can see it now. Michael Saylor convinced him - what a legend. I think Elon was the social tipping point for Bitcoin.
So what comes next? I think this bull run is going to be even bigger than what I originally thought. There are currently rumors in the grapevine that Apple, Google & Oracle are jumping on the bandwagon too. Even if it's fake, they will eventually have no choice. They either lose the purchasing power of their cash reserves or bend the knee to the king - Bitcoin. The way I see: Tesla just put 10% of their cash reserves into Bitcoin. When Apple puts 10% of their $250B cash reserves into Bitcoin - Elon is almost incentivized to buy more. We will start to see a competition in the corporate world; a race to build the fattest stack. Every company in the world is now forced to buy Bitcoin just in case Elon is correct - disclaimer: he is. Bitcoin's game theory & economic incentives will soon play out in real time. If you're selling here, just remember Elon just bought - this would be incredibly foolish. Selling is never a good idea anyway. Why would you risk a position of certainty in the most robust monetary network history has ever seen?
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