Re: Can bitcoin be hijacked by world billionaires???

It is obvious that world billionaires are indicating interest into bitcoin of late ,for instance Elon Musk twitted that you can now purchase his Tesla cars with bitcoin, is he trying to hod bitcoins so it will be scarce then he control and dictate the price of the market or is it for the good of bitcoin that we have been expecting ,what do you think

He can't control the price of bitcoin, there are a lot of individuals who have huge vested interest on the market. It's good that we can purchase Tesla, that is welcoming news indeed. But it won't have any effect as far as crypto holding goes. Institutions, retails investors, average joes can still invest on bitcoin. But it will become a race now as they are really coming into the picture. So for us ordinary investors/traders, we should take advantage and continue to stacks sats as bitcoin is getting scarce.

Exactly my point ,the scarcity will lead to price control on prize hike and it is manipulated by this few elites

How can a few elites control the market though? Bitcoin will not be control by anyone, it's too big now, many crypto exchanges are around as compare like 5 years ago. And then we have retail investors and traders, and institutions and then whales. Unless these few elites that you are calling are going to collude with each other to bring or manipulate the price, but I highly doubt that.

Maybe your presumption is applicable to DOGE, because it's about 100 people control its entire $50 billion market.

yes I agree with you, there is no way they would do that. Bitcoin is difficult to control because it requires huge funds to do so. different from other coins, the market cap of bitcoin is more than 50% of the total market cap of the crypto market. so it requires huge funds and let's not forget retail investors, they can also be variables that can destabilize the market.

It will not be easy for the elite to be able to manipulate the market, unless the elite is compact in making communities with each other so that market price movements are very influential because they have been manipulated. although Bitcoin is the crypto with the largest trading volume, the role of a group of whales can certainly influence the market price