Elon Musk With $5 Billion Worth Of Bitcoin?

Bitcoin has been on a run. As more companies names surface as owners of Bitcoin, the price keeps running higher. It appears that each leg up is the result of further validation of the asset by the caliber of company that enters the market.

Last month, some of the biggest news was the fact that Tesla announced it had made a purchase of $1.5 billion. This really changed the type of company buying into the asset since before that, it was mostly Wall Street/Financial companies.

Tesla shifted the focus to the technology arena. Its entry started the speculation that other tech companies such as Apple would enter the mix. Thus far, nobody of note has really entered since Tesla, at least publicly.

Of course, there is no need to announce the position, especially if it is not a public company. Here we see there might be more entities owning Bitcoin that have not come out and announced it.

In fact, there is one money manager who thinks that already happened.

According to a Tweet he sent out, he believes that Tesla's purchase of Bitcoin was not the only buy from that family.

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Scaramucci believes that SpaceX and Musk himself own Bitcoin. He puts the figure at $5 billion in total.

There is nothing that cites where he gets this information from.

However, he does bring up an extremely valid point. If Bitcoin is such a negative to the environment since it consumes so much electricity, why would the #1 fighter for climate change protection be investing in it?

Certainly, when it comes to this situation, few will argue that Musk is one who took the problem head on. Who has done more in this area than him?

Yet here he is investing in Bitcoin. We know for a fact that Tesla owns it since it required disclosure of that. Does anyone think this would have occurred without Musk's permission? Of course not.

While Scaramucci might be pulling the rest out of his hind end, there is a change that he is spot on. After all, if Bitcoin was good for Tesla, why not for SpaceX. There is one difference between the two though: how much of a reserve fund does SpaceX really have. The company is not believed to be cash positive. In fact, they keep raising funds to keep operations going.

As for Muck himself, there is no doubt he could get himself some Bitcoin with the bank he has. Even if he just used the money he got from the California properties he unloaded last year, he would be one of Bitcoin's larger holders as an individual.


Source

There is no doubt that there are some big names in Bitcoin who are, thus far, undisclosed. After all, not all individuals or even companies reveal what they do. Public companies end up making this information public but those that are not required by law to do so usually will not.

With all the money that was flowing into the arena, and reports like Morgan Stanley starting to offer funds to their wealthy clients, we know there has to be some household names who are into Bitcoin.

The debate about Bitcoin being a "dirty asset" creates an interesting situation for many clean energy advocates. For this reason, coming out publicly might not be something that do fore fear of being attacked for supporting such an "energy hog".

Of course, the claim is being refuted as miners keep moving their rigs into those areas that offer the cheapest form of energy, usually those with cool temperatures and renewable energy.

Nevertheless, the accusations continue.

Perhaps Musk sees Bitcoin as a store of value that is getting more energy efficient while also replacing traditional stores of value like gold and real estate, which require a lot more energy.

Or maybe simply Elon does not care. He saw an opportunity to double his money and, based upon reports where Tesla bought, the price is up roughly 80%.

If SpaceX or he personally owns some, then his gains are going to be larger.


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An impressive amount of money
These businessmen know where to place investments
So as I read earlier, follow their actions

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Bang, I did it again... I just rehived your post!
Week 49 of my contest just started...you can now check the winners of the previous week!
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The problem with this entire argument is that they are basing this on the fact that energy is only based on non-environmental energies. I see renewable energy expanding as technology improves, it won't be "unclean" anymore. I honestly no reason to believe these environmental people because most of it is bs. I don't have a good view of environmental people because of California and the water/housing issue.

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I don't have a good view of environmental people because of California and the water/housing issue.

They certainly are the epitome of the worst of the worst.

I agree, over time, Bitcoin is going to adopt renewable energy probably at a greater rate than the general public. They have incentive to get their costs down. As you said, if the technology improves, the miners will likely jump all over it.

Besides, funny how these people dont talk about the energy Bank of America or Kroger uses.

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Ah the great debate. People love renewable energy when governments are shilling out cash to prop it up. The main investors of renewable energy are governments. Private sectors do not go into new sectors easily, it's not a smart business move.

But if there is someone shilling out free cash "subsidies" "tax incentives" this reduces the risk of failure. And when governments starts throwing cash at things it is like the ultimate mum and dad guarantor.

Just because a company is pro renewables it doesn't necessarily correlate with its boards own personal beliefs. Or investments.

Money is always central to people's decisions.

For all we know though, Elon could be building an entire renewable energy farm to farm bitcoin. I don't think there is much blocking sunlight in space, no doubt the perfect place to build a solar power plant. Constant free unobstructed sunlight.

It would also be the best place to have batteries charged, the issue is getting them into space, that's the costly part.

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For all we know though, Elon could be building an entire renewable energy farm to farm bitcoin.

That wouldnt surprise me. Actually someone actually proposed that the Powerwall could be bitcoin miners with, I believe, a different cpu configuration. Thus, in addition to storing the energy from the solar panels, it could also use some of that energy to mine Bitcoin.

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I really don't think he has put a lot of effort into thinking if bitcoin is green or not. He saw an opportunity and took it. I think he sometimes does things on a whim, just look at hyperloop, it has been in development for a long time and nothing close to what was promised had been delivered.

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Do you expect that to happen overnight?

How long does it take to build a highway out? 10 years?

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it takes 3 years to build a 50 km piece of highway in a shitty East European country. In 10 years you can build hundreds of km of highway in an organized country but that's beyond the point. In 10 years we haven't seen anything close to something that actually brings passengers from point A to point B, even if the two point would be like 20 km apart it would still be something. And I will bet 1000 Hive that we won't see a hyperloop that transports at least 100 people per trip ( not 2 reporters for less than 1 km for a publicity stunt) in the next 5 years. And that trip being to actual destinations not in the middle of the dessert where they have their test rig

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Or maybe simply Elon does not care. He saw an opportunity to double his money and, based upon reports where Tesla bought, the price is up roughly 80%.

that's what i think as well. The claim that no living person has done more to protect the planet against climate change is at least absurd. Elon is quite smart and he has managed to both make billions and at the same time to be extremely likable as a person.

Because he is that smart i highly doubt that he does everything for the sake of it or to promote some "good" ideas. He is after money and that's his numbers 1 "worry" because that way he can literally do more things than he may want to. The recent nft fuzz both relative to him and his wife shows that.

i may be completely wrong though who knows!

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Well- TESLA had to disclose in their 10K they bought 1.5B in Janurary prices of BTC. I think its up 10-15k in price already but that is well short of the 5B.

Either way - all it takes is one or two more companies to try to buy a few Billion and the price is going to have tremendous up side pressure. Between diamond hands, lost coins and keys supply is limited

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Tesla had to disclose but SpaceX and Musk do not.

That is the point, that he might have purchased $5B through all those different sources.

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@taskmaster4450le elon musk is really a smart business man and an investor that really knows what he is doing,..

Perhaps Musk sees Bitcoin as a store of value that is getting more energy efficient while also replacing traditional stores of value like gold and real estate, which require a lot more energy.

exactly what i was thinking too....he is just an investor who is putting his money where his mouth is....

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#elonMusk owns that much crypto
matches with his companies.
The value crypto brings
may not be seen only if you own
that much to move the market.
Cause of Musk, #doge is getting so much attention.
Lately any crypto news is a good news.
Keep them coming.
It will bring more folks to crypto.

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The smear campaign against Bitcoin has worked on some, but not all.

Bloomberg has an awesome list of things people have said about Bitcoin (both good and bad) - click the names and see what they said. The green are the positive on BTC, the red are negative: https://www.bloomberg.com/features/bitcoin-bulls-bears/

I recognized that Bitcoin is such a threat to centralized banks and monetary funds (IMF, WEF and other fiat giants) that they have resorted to name calling crypto "funny business", "drug and crime money laundering" and reserved only for "Elon Musk, not the average American". Guess which Billionaire is afraid of you owning Bitcoin? Hint: Your operating system was made by his company.

Bull on Bitcoin, no matter what they say. In secret and in the open they are hoarding it with greedy lips. Cashapp, VISA, BOFA, Wells Fargo, all of them trying to get every bit. But on the surface, they'll use gossip mags and news paper men to lie about their real intents.

Crypto hands power of governance to people, to organize and to control value exchange. Centralization makes the central banks very, very afraid - but they cannot stop it because their greed is too overwhelming.

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With all of these clever and successful investors going all in with Bitcoin, I am curious as to whether Mr. Warren Buffet's position has changed?

Many early detractors of cryptocurrencies have changed their position on the topic 180o with their wallets.

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