Elon Musk tweets DOGE, buys bitcoin. Many of us, myself included were talking about this during the DOGE surge, that there's a high likelihood he was diverting attention away from bitcoin so he doesn't have to buy it high.
Michael Saylor, as respected and truly leading the vision for industry for adoption as he is, talked about bitcoin after buying it, every-time. Now, this has to do with legality and SEC filings as well, so I'm not going to claim they are malevolently misdirecting the public.
I will however, point out that some things are not as hard to predict as people think. For example, after Saylor's event with all of these companies, many of them will take a position in bitcoin. If you are reading this and thinking, "I'll buy bitcoin when they enter" let it be known that you'll always only know AFTER they enter. And by then you'll miss the biggest pump.
About the DOGE incident I will also say this, "celebrities are paid based on attention and public interest" this means, that someone who loses 10k on DOGE on YouTube, assuming they get say 1 million viewers and 70k new subscribers, can make that money back much easier than we can.
Snoop Dog can push whatever coin he wants, as long as he gets more attention, that will convert to money for him. Anyone that follows him in though......good luck, hope you know what you're doing.
Elon Musk and Michael saylor can both leverage their followers to pump at certain low liquidity points to push the price. I would even go far enough to say that Elon may be practicing with pumping DOGE, figuring out how much initial sway he has, and how long the momentum can be kept up.
It's true, I do also believe it possible that Elon's just a memelord and loves to mess around, but remember even while playing golf, the rich are networking. It would not surprise me if Elon, genius as he is, figures out the best way to make his entertainment also pay him real money.
Notice that both of them release news of buying into bitcoin when price shows weakness and low volume, and the news usually catapults price past difficult resistance or hold important supports.
Also, if you've been following the crypto space, you would know there's several people on YouTube that called Tesla getting into bitcoin.
Since people like it when posts give them value I will say this, "As bitcoin prices rise, the pressure is on for other hedge funds (competing with Micro Strategy) and S & P 500 Companies (competing with Tesla) to enter bitcoin, They WILL need to FOMO in eventually. When? I don't know. But once the price goes up enough we will see it, because the returns of bitcoin is simply too high to not enter an amount."
Since 2020's "FED printer go burrrr" People having making jokes about how, "Why do we need an analyst? If you put all your portfolio into Tesla you probably made a better return year over year than any of these professionals"
This has had impact, the GME incident, the pumping of small cap companies, wall street getting rekt left and right by retail. If wall street keeps lagging on bitcoin, they may lose so much confidence from the younger generation, that they eventually go out of business as most of the young manage their own portfolios and put money into bitcoin.
Also, Alt season has began a while back, as soon as late december and early January, this means that ANY alt-coin with a small enough market cap and retail attention can literally 10x overnight (looks at DOGE) if you follow celebrities, know this, there will be a bunch of shills about to come out and promote any sort of coins, and those coins will have very high returns in a short time. But most of them will be unsustainable.
Be careful out there, feel free to join in the Pump and Dump if you know what you're doing. Or (like me) not, your choice.
TL;DR:
- Celebrities make money through attention, so they can throw money at riskier stuff
- Celebrities can leverage their influence to affect the market
- Industry adoption is coming, more companies will likely follow Tesla
- Any small-cap Alt-coin can be pumped by celebrities
- Be careful with what celebrities tweet, those rarely are serious investments
Good luck to all!
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