Just a quick add to the Tesla bitcoin comments that seem to be dominating the crypto space at the moment. Don't Be Fooled - Propaganda is rife because propaganda is profitable to large investors and plays on the minds of the more nervous investor. The protagonists know this.
Aside from Tesla not selling his own bitcoin stock and the questionable reference to the bitcoin energy usage, it is wise to look just above where this latest shot is being fired.
Bitcoin is a recognized store of value and could well offer a higher level of value than leaving too much money in an increasingly devalued fiat currency. As this becomes more apparent to more people and influential news such as the story below filter through, bitcoin should easily bounce back up.
News stories like the one above will have far longer and more far reaching implications for the fortunes of bitcoin than a calculated piece of gamesmanship from any veteran capitalist.
Ask yourself also "Did the Tesla board understand the energy aspect of bitcoin when asked to consider purchase of such a significant amount of it?"
Of course they did!
This alone tells you what you need to know about whether the same people consider bitcoin a decent investment and maybe Tesla could just be creating the dip needed to further enhance that investment?
It wouldn't be a shocker would it?
I think we'll see bitcoin 'bounce back' and this latest 'market tease' may also see an upturn in the value of low energy touted coins such as XRP as well as sideways moves into Ethereum and other high market cap top 10 crypto assets.
If we do, then remember that this is all driven by sentiment...just as a fair amount of investing in the crypto space has been for a good while.
Keep the faith, hold your assets...it's all part of the crypto investment game and assets like bitcoin are here for a reason not a season.
Have a great day friends!
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