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We recently explained why the hamsters ended up losing to the banking industry in the equity market. And how they can defeat that mob in the cryptocurrency market. However, they have not yet taken any real action to buy bitcoin. And then help came from where it was never expected.
BTC
Tesla, Ilon Musk’s company has invested $1.5 billion in BTC. First, let’s dispel a myth that’s been circulating in the market. No, Tesla did not buy bitcoins in January, as most analysts rushed to report. The company said in a report that it was changing its policy as of January. And will consider selling new cars for BTC.
That is, bitcoins were being bought back in the summer/autumn. And this is a very important point. Why? Because if they were bought this January, the average value of the purchased BTC would be 30-35 thousand dollars. And if bitcoins were purchased earlier, Elon Musk could collect a position at an average price of $8-15 thousand.
What does this mean for the market?
Hamsters have 8 million followers on Reddit. And Elon Musk has about 45 million followers on Twitter. Even the numbers are symbolic. Bitcoin started with 8k and got to 45k.
What will Ilon Musk’s followers do? It is not at all certain that at least half of them will buy Bitcoins tomorrow. More important is another. Now 95% of them, will know that BTC is not just cool, but a great investment. And bankers, regulators, governments will just fool them by calling bitcoin worthless. Sound familiar? That’s exactly what the hamsters are coming down on Wall Street with.
The same thing will happen in the minds of the management of large companies and corporations. If Elon Musk has already invested in BTC, then so should they. And the sooner the better. After all, if bitcoin grows to $100,000 by the end of the year, the first question investors will ask is. “Why didn’t you buy bitcoin at $45,000 when you found out about Tesla’s investment and robbed us of huge profits?”
And another important point from a technical point of view. Perhaps BTC’s pullbacks downwards will become smaller in percentage terms. That is, no one will be expecting a 30% drawdown. And with a 10-20% drop, companies and funds will happily pick up the cheaper bitcoin on pullbacks.
02.30 China consumer price index for January
08.00 Germany Consumer Price Index, January
14.30 US Consumer Price Index for January
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