1.5 Billion Dollars and The effect It Has On Bitcoin

avatar

This morning Elon Musk invested 1.5 Billion dollars into bitcoin and this was the aftermath.

1.5billion.jpg

Now while this is a great thing for bitcoin what this really starts showing you is how much power whales have in Bitcoin.

1.5 Billion took bitcoin from $39,400 all the way up to $43,500 which if a whale did this steadily over time you would see bitcoin trending upwards which would seem like a spark in a rally for the coin. This is honestly how easy it is to fake a rally or fake a sell off in bitcoin right now. 1.5 Billion really isn't all that much money when you start talking about whales in bitcoin and starts to make you wonder on past rallies and sell offs.

In any case Elon has announced he plans on using Bitcoin as a form of payment for all things. This would include cars and heck most likely even space flights soon to come!

That means that bitcoin you hold today could one day send you to space now how's that for blowing your mind!!!

This now sends cryptos market cap at just under 1.3 trillion dollars. Somewhere honestly I didn't think we would be any time soon. But this again shows you the power of whales and influencers and how much power they currently have on Bitcoin let along other cryptos with an even smaller market cap.

Think about this same amount injected into Ethereum which is just about half the size of Bitcoin.

This seems to have trigged money flows into other cryptos as well and since bitcoin is seeing a small decrease I'm currently looking into money flowing out into other alt coins and projects and perhaps this might be a great week for Altcoins!

leofinance_popup02.png

Posted Using LeoFinance Beta

bitcoin markets crypto neoxian palnet ctp ash archon list bpc leofinance
0
0
0.000
12 comments
avatar

This is really inspiring! Elon Musk is a very big man, the act of him investing his money in Bitcoin and receiving Bitcoin as payment for his products will influence so many people to invest in Bitcoin. This will cause Bitcoin to grow in value more and more!

Posted Using LeoFinance Beta

0
0
0.000
Reply
avatar

It could be huge for Bitcoin and Crypto itself as many people preorder his trucks and cars. Imagine preorders via Bitcoin and how much that will skyrocket the price!

Posted Using LeoFinance Beta

0
0
0.000
Reply
avatar

Absolutely! Maybe his trucks and cars will be overbought and Bitcoin will surprise us!

Posted Using LeoFinance Beta

0
0
0.000
Reply
avatar

I've been waiting for something like this to happen for years. If TESLA is the first domino to fall, we could see a massive windfall of money pour into BTC that makes previous bull rallies pale in comparison... I think that it will continue to happen slowly throughout the year. Most companies are likely still wary of adding BTC to their balance sheet and TESLA is in an enviable position of having A LOT of cash on hand, so it isn't as big of a risk for them as it would be for other larger corporations.

Posted Using LeoFinance Beta

0
0
0.000
Reply
avatar

More adoption is better and creates demand. However bitcoins fees are stupid high so it's really only good for large fund transfers compared to other solutions. Only a matter of time till those others start to take hold.

Posted Using LeoFinance Beta

0
0
0.000
Reply
avatar

Bitcoin has ARRIVED. When a big name like Elon buys, you know other billionaires are probably going to have a bit of bitcoin in their portfolio now. Wouldn't surprise me if this caused a domino effect. At least I hope so anyways.

Posted Using LeoFinance Beta

0
0
0.000
Reply