Thanks, I increased the speed, but the 2nd half, I just fast forward it. Just bitcoin pumping. The media is now full of it, getting tiresome even to listen. The pumping has intensified in recent weeks...
I watch it again but can't stop myself from fast forwarding at various points. He made several good points on the wealth tax and the increase in the number of paper hands as more retailers buy into the hype, and that the US government will not ban it. But he doesn't mention that a stock market correction can bring down bitcoin back to sub-4 figures before it can pass $100k. Many things can happen in the next couple of months that can bring everything down. The people who bought today stand to lose 90%-95% if they HODL, while the luckier ones with paper hands will make at the most 100% or 200% (if assuming bitcoin goes up to $100k or $200k). 100% gain can be achieve in stocks easily with comparatively lower risk. If a speculator loses 90%, he must earn 1000% in the next punt just to breakeven. The odds are very bad at $50k. I don't believe any real investor will buy at this price. Probably shill buys to "push" the price up, while secretly offloading to bag holders. For example, they could announce their public company bought xxx millions, while selling their personal holding secretly. PLenty of tricks especially in an unregulated market.
if your company have spare cash even they are losing money all need be done is just buy bitcoin and your company value will launch to the moon just like Tesla excellent expanation on why Tesla got into bitcoin
Come to think about it, if you say you buy gold and even silver, your stock will fall instead. Opposite effect of bitcoin. Just wondering who is actually "buying" bitcoin. Looks at the chart. Even an 8 year old can tell you what happens next. If that's his intention, doesn't seem to be working. Tesla looks like it's going to fall off a cliff.
Interestingly perhaps, Musk is forcing practically everyone who owns Tesla shares to "invest" in bitcoin. E.g., most Aussie Super funds probably have Tesla in their intl. portfolios etc etc. Not sure if the institutional investors are all too comfortable. That said, Musk has pulled a rabbit out of thin air before.
Without being too contrarian, in my experience, when it's hard to find a bull and everyone's a bear, it's probably a good time to buy. And when things become mania which IMO they are, it just makes the unloved more undervalued.
There was plenty going around when the price was higher, lower price always means people more likely to hold. Someone posted a kilo bar for $1130 and it took a while to sell. That was when spot was $1070+.
Nice little move back up in gold, only the second big green bar this year that's held into close....would be good if we can form a higher low off early March.
