Is he a manipulator?
Well I have been wondering a lot about that question whenever he tweets about cryptocurrencies, and for somehow, only about certain ones he likes playing with.
Yes, he is nobody else than the man he holds hundreds billions dollars worth companies like SpaceX and Tesla Cars.
Before some news I've collected about the heading above, I would like to answer the question above ''Is he a manipulator?''. Everybody on the planet would guess who ''he'' is. I find it sadly true and my answer is yes.
Elon Musk, maybe not really wanting to do that, not intentionally but he is manipulating. Many would think so.
It shouldn't be that easy to influence the cryptocurrency market in the way you want. Things must be natural. Cryptocurrencies must have a natural development in the market, too.
Until I decided to invest on Bitcoin Cash (BCH), I certainly had no idea on which one to make investment and on which platforms should I take part in to develop my knowledge on this new (for me) digital world.
Briefly, I just want to say that race should go on fairly. In a fair one, Bitcoin Cash can grow and dominate the market for many reasons that could be another article's subject.
Here is the news about Musk.
According to a new report, electric car giant Tesla has made nearly $ 1 billion profit from its Bitcoin (BTC) investment.
As it is known, Tesla officially announced its $ 1.5 billion investment in Bitcoin as part of its application to the US Securities and Exchange Commission on February 8.
While Bitcoin was traded between about $ 29,000 and $ 37,000 in January, the announcement of the investment rised the Bitcoin price. We can say that Tesla CEO Elon Musk also supports the rise with his Twitter posts.
An analyst at Wedbush Securities, a private investment firm in the United States, calculated that Tesla earned "about $ 1 billion" after investing $ 1.5 billion in Bitcoin.
Daniel Ives shared Tesla's Bitcoin profit in an investor note on Saturday. After Bitcoin became a $ 1 trillion asset with a parabolic rise, Ives used the following statements on the subject:
"Tesla is on its way to making more of its Bitcoin investments than the profits it made by selling electric cars for the whole of 2020."
In addition, Ives stated that the Tesla investment is likely to affect other public companies. However, Ives expects only a small fraction of the market to follow this trend due to issues of legal uncertainty.