Post
Topic
Board Economics
Re: Elon Musk really has the ability to manipulate the bitcoin market
by
magneto
on 18/05/2021, 02:38:04 UTC
Haha, just like I said in the previous post, Elon Musk really has the ability to manipulate the bitcoin market, just follow him at least for the moment. But this wouldn't last long; they started to hate him.
At least if you go short, you also have some money. In this market, the more you panic, the more you lose money.
https://medium.com/snapbots-news/snapbots-news-review-elon-musk-suggests-teslas-sale-of-bitcoin-market-drop-again-cb7078dc8f00

At least Musk is generating publicity for BTC and brought it somewhat mainstream with retail investors, which will only be for bitcoin's benefit in the very long run.

However, in the short run, I don't think there is any point in following what he says anymore. He's gone a bit rogue much like Trump's tweeting.

It's not a great look for him, or for TSLA and its shareholders, that he's constantly singing a different tune on various speculative investments. How he can go from investing $1.5b in BTC one day to rejecting it as an environmental antagonist is beyond me. The only explanation is market manipulation.