On February 8th, 2021, tech giant Tesla fronted by a man who has quickly become an internet sensation, Elon Musk, announced that they had invested $1.5BILLION in Bitcoin. On the 8th, Bitcoin was valued at around $38k, as you can imagine shortly after this the price skyrocketed, as the meme states… TO THE MOON! Not only because of the massive investment from Tesla themselves, but also the sheer amount of new investors a company this size would bring in. The price WITHIN 24 HOURS rose to $48k, in the following fortnight, we saw the price peak at $58k! Wow!
Now, here’s where it gets interesting. 21st February 2021 Tesla announced that the value of their bitcoin investment is up to $1billion. That means they got in when the value of Bitcoin was closer to around $34k, meaning they’d held them for around a week before they announced they had invested. So what does this mean?
We’ll get back to the Bitcoin in question shortly, but, we can keep talking about Mr. Elon Musk. In recent weeks, he got on the hype train that originated on Reddit, the hype train that was Dogecoin. At the back end of January, Dogecoin was valued at LESS than 1¢ per piece, while this whole DOGECOIN TO THE MOON thing was going on, alongside the Gamestop Stock saga. Elon Musk tweeted about Dogecoin TWICE. How did that affect the value of Dogecoin? I hear you asking and I have the answer for you.
Well, on the 8th of February, coincidentally the same time Tesla announced they had invested $1.5bn in Bitcoin. The value of EACH DOGECOIN was 8.7¢ a piece, now look I understand that isn’t a lot of money to look at. But put it this way. IF you invested in Dogecoin at 0.7¢ a pop, say you had $250 laying around. That would’ve got you 35,714.2 Dogecoin. Now, with Dogecoin peaking at 8.7¢ per coin, that means you’re making 8¢ profit per coin. So that $250 you spent on 35,714.2 Dogecoin is now worth $3,107.1, why is that? Because Reddit thought it’d be funny and Elon Musk got on board.
— Elon Musk (@elonmusk) February 24, 2021
So where am I going with this? It’s quite obvious, any time big tech companies or, huge celebrity personalities like Elon Musk get involved in stuff like this, it ALWAYS has a massive effect. In fact, in January, he tweeted saying “Use Signal” referring to the Instant Messaging/Social platform, similar to WhatsApp, however, his followers misunderstood. MANY of them went crazy and invested in a small medical device firm known as Signal Advance. This led to the share price rising an insane 11,500% IN THREE DAYS. Its market value went up from $55m to over $6bn! He also tweeted saying “I kinda love Etsy.” and within no time at all the stock surged 9%, however it dropped off around 2% by the end of the day.
Even if you’re not into the whole social media thing, I would advise you to make a throwaway account, make a new email, open it under a fake name if you’re paranoid you’re being tracked, and always run it through a VPN, set up tweet notifications for Elon Musk and various other HUGE names. As soon as they mention any company, providing you’ve got the spare cash, you could get involved and within 12-24 hours probably make a profit.
What’s the next step then? You’ve followed the trail of hints left by the world’s biggest personalities and richest members of society, what if you got lucky and got in early on some of these booms? What do you do with all your profit?
Maybe reinvest in some other assets like property, seems the market is in a good place for buyers right now, not so much if you’re looking to sell, so perhaps grabbing a second property (or even your first!) to look to rent out and make a little bit of extra income to invest and multiply your money, even more, is a solid shout. If you like to take risks and you’re a gambling man you can use sites like sportsbetting.ag.
Time to wrap this up and I’ll do it like this. With Tesla Buying Bitcoin, what can we expect? The same thing we can expect any time Tesla or one of the big boys invests heavily in anything. A massive spike in value. If you can, try to be on the good end of this, and maybe you can turn a profit alongside them, but you just have to get in there early!