On October 21st, BTC hit a record high after a trough period of nearly half a year, reaching a maximum of 66,999 US dollars; ETH also rushed to a maximum of 4,375 US dollars. A few hours later, Tesla founder Elon Musk revisited the topic of encryption on Twitter. He posted a connotative picture showing the towering quotations of BTC and ETH. On the same day, Tesla released the third quarter financial report of this year, and its revenue and profitability data increased significantly. What is interesting is that the financial report shows that Tesla still holds Bitcoin, which means that Musk has complied with the promise represented by the "diamond hand" expression that was made when the market crashed on May 19th. In the crypto circle, this expression often means not afraid of market fluctuations, holding positions until the target.
According to estimates, Tesla currently holds more than 40,000 BTC, and the cost of a single currency is about 30,000 US dollars. At the current market price, its profit has exceeded 1 billion US dollars. Musk is happy here, but investors who bought DOGE at high positions are still losing money. On October 22, DOGE quoted a price of US$0.248, which was still a 66.5% drop from the high of US$0.74 in early May. Because Musk has repeatedly called for DOGE to promote its sharp rise, many people blame Musk for investment losses. In fact, during the skyrocketing of DOGE and other animal currencies, Musk reminded in a street interview that "no one should invest all of his wealth in cryptocurrency." Tesla's holdings of BTC make more than 1 billion U.S. dollars in profit No matter what Musk wants to express, this tweet sends a signal that the man who once stirred the market is back. Looking at Musk’s Twitter, in the past two or three months, his personal dynamics have almost revolved around Tesla and the exploration of space. Crypto assets are rarely mentioned. This is the same as the frequent comments on the crypto market in the first half of the year and caused significant fluctuations. He is totally different. Looking back, Musk’s most impressive recent speech on crypto assets is "Tesla has diamond hands." That tweet was published on May 19, when BTC plummeted to $29,000 on that day, and the "diamond hand" usually means defying market fluctuations and holding positions until the target. Musk returned to the public opinion field of the crypto world with BTC to a new high. What is striking is that Tesla also announced its third-quarter financial report on the same day. The financial report shows that Tesla’s third-quarter revenue was US$13.76 billion, a year-on-year increase of 57%, and its operating profit was US$2 billion, a year-on-year increase of 148%. According to its third-quarter balance sheet, Tesla currently holds $1.26 billion in crypto assets, which is $51 million less than in the second quarter. According to industry estimates, Tesla did not conduct any new bitcoin selling or buying operations in the third quarter. In other words, Musk and Tesla did not violate the attitude of "diamond hand" during Bitcoin's decline and turmoil. Although the third-quarter financial report showed that Tesla's crypto assets were impaired, with the recent return of BTC to above $60,000, Tesla's investment has actually reaped huge returns. According to estimates, Tesla currently holds more than 40,000 BTC, and the cost of a single currency is about 30,000 US dollars. Now its investment has doubled and the profit exceeds 1 billion US dollars. Judging from the results, Bitcoin did not live up to Musk's "diamond hand". DOGE still hasn't recovered Tesla's financial report is eye-catching, and the price of Bitcoin is back. Musk once again talked about the crypto market. Everything seems to be back on the eve of the "5·19" plunge. However, many crypto-asset investors have found that the money they lost has not come back because the prices of many altcoins are still far from their highs during the year, such as DOGE. On October 22, DOGE quoted a price of US$0.248, which was still a 66.5% drop from the high of US$0.74 in early May. And if it wants to return to highs, DOGE needs to rise by 198%. Because Musk played a vital role in the earlier DOGE skyrocketing process, many investors blame Musk for their losses. Under many of his tweets, there are comments similar to "I lost all my savings by investing in DOGE." Some people denounce Musk for profiting through market manipulation, and others beg Musk for assistance. Never responded to a similar topic. Looking back now, Musk actually hinted at risk. In a video of a roadside interview, he reminded that no one should invest all of his wealth in cryptocurrency, "but if you want to speculate and entertain on a small scale, you can still do it." Although he did it during the frenzy of the market. A reminder, but apparently many people did not listen to these words and suffered heavy losses. Whether it is from Tesla's main business operation or investment return, Musk's life and career are still climbing to a peak, and his life has not changed much due to the collapse of the crypto asset market in the previous stage. But for many investors who have lost most of their net worth, their lives and mentality are no longer what they used to be. In this contrast, if you look back at the picture Musk posted on Twitter, you may understand why there are different conjectures in the comment area. Optimists and pessimists are facing the same thing. At times, they tend to taste different flavors. There was a well-known former Soviet film called "Moscow Does Not Believe in Tears." The same is true in the turbulent crypto market. Musk did not believe in tears. When the market plunged and caused panic, he put out a "diamond hand"; and relatively fragile and drifting investors eventually became disadvantaged in the market game. One side. For investors who have lost money from investing in DOGE, this painful lesson should be an important lesson. Ironically, as Musk once again returned to the vision of the crypto world, many people again placed their expectations on him. In the Twitter comment area, many people hope that Musk will continue to shout for Dogecoin to promote the price increase; of course, there are also investors who are tired of his influence on the market, and what is still in their ears is the investor's complaint. -Please stop manipulating the market.
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