He tweeted. Again! As if the market didn't have enough of his farts...
'Potentially promising'. Not even 'promising'... That's all the herd that calls themselves investors needed to read. And then they ran on their apps to buy like there is no tomorrow. Thousands of Bitcoins were traded within 5 minutes, pumping the price from $38,000 to almost $41,000. Are you sure Tesla was not selling? Are you sure the purpose of this tweet was not exactly to pump the price, so Tesla could off-load with profit as many of the Bitcoins they hold?
Of course, a tweet alone could not keep the price at that level, and Bitcoin started sliding lower. 12 hours later, it was struggling to hold $37,000 - even lower than the price before the tweet. Thousands of people are potentially losing hundreds of dollars each. That's when we went to adapt 'Oops!, I did it again' (you can get it here: https://www.publish0x.com/the-other-side/ooops-he-tweeted-again-xryklzw). It's going to be the summer hit of the year!
You may defend Musk by saying that he didn't call anyone to buy. That nobody is losing money, unless they sell their bitcoins. And you would be right. He knows all that. He also knows that if he openly calls his followers to buy Bitcoin or Dogecoin, he risks legal action - and that's the last thing he wants. But that is not the only other thing he knows. He knows that even he says anything that may sound potentially positive, quite a few out of his 55 million followers, will go to buy, like there is no tomorrow. He has done it again, and again, and again. And it works. Almost always.
Many others have tweeted trying to drive Bitcoin higher. They hardly moved the price up. But one vague tweet by Musk, was enough to pump Bitcoin close to 7%, within minutes. And Musk knows that too. And so know all others present in that meeting. That's why they didn't mention anything about it. They were waiting for Elon to tweet. Only after he tweeted, they went to confirm it.
When police is investigating a crime, the moto is 'follow the money'. And with each of his tweets, some people - or corporations - are making shitloads of money.
Your money!
