The richest man in the world currently is known to be a strategic and smart Investor in business. His tweet alone move the price of Crypto currencies generally. If this Man decided to invest heavily in bitcoin, how do you think his action will affect the price of Bitcoin and to what extent?.
If Elon Musk should invest in bitcoin
- Thread starter ahmedo24
- Start date
I think that apart from the impact that would be felt on the price of the coin because of the funds pumped in through Elon Musk, his reputation and worth would likely add to the impact.
That would make investors go crazy and invest on Bitcoin even more. Perhaps even the people whose not into Cryptocurrency investment might even consider it because if the most wealthiest person on the world trust that it's a good investment. Why doubt it?
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Then I think the value of bitcoin will start dropping, we all experience the one that happened recently, which result to deep fall in bitcoin, which was controlled by whales. If this musk invest much in bitcoin it will fall but could rise at the end ooo.
- Thread starter
- #5
I don't think the price will fall because if he invest now it means the buying pressure of bitcoin will increase and this will lead to increase in the price of bitcoin immediately , this is from the experience of other big companies that has Invested heavily and there was positive effect on the price.
If Elon musk should invest in Bitcoin and he tweet that he has bought large amount of the crypto currency into his portfolio definitely the price will go up because the price is always determine by the demand and supply just like we were taught in secondary school.
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If Elon Musk should invest in Bitcoin then it's a wrap because Bitcoin will cross the $100k mark before the 2nd half of this year. That singular act will draw alot of investors toward Bitcoin and everyone who's investing in it will be smiling at their crypto balances. But such influencal men prefers investing in a much younger currency than an already rich one and the possibility of him investing in Eutherium is 70% over Bitcoin
Well I don't see that happening but it's possible he may support other coins or initiate his own, he is the richest dude in the world right now and he is bigger than bitcoin. He also has capacity to float his own coin.
I doubt he would invest in bitcoin. He knows he's able to move the market to extreme value which could cause gains and losses. It will give bitcoin massive worth that would make the market difficult to invest in for new comers.
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- Thread starter
- #10
Considering how the Crypto currency market is moving I can assure you that if Elon Musk Invest in bitcoin he is capable of getting 50% gain in his investment within 48 hours because he is a big influencer.
The investment that will be done on Bitcoin will drive the amount of the Cryptocurrency to the moon because Mr Elon musk is the current richest man in the world and he is very influential right now. He investing heavily on Bitcoin will also attract other investors into the coin.
We are already seeing the kind of influence he has in the crypto space with how well his sentiments has influenced the growth of dogecoin. If he decides to have a pie of bitcoin then bitcoin will be mooning aggressively.
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And u think elon musk is not into bitcoin... For him to have made mention of some altcoin like dogecoin and bitcoin definitely he's into it. Probably Low key
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- Thread starter
- #14
I don't think he is into bitcoin financially but a supporter of bitcoin and doge coin any day , I am very sure of he invested into bitcoin or any altcoins it will be available on all social media platforms for us to see and read.
Of course the richest man in the world can affect bitcoin and altcoins price because he have millions of followers and big money so he can effect the price he already tweeted about DOGE and the price increased and the same with bitcoin
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If at all the richest man in the world decides to invest in bitcoin, this will also make a lot of people buy bitcoin massively, leading to an increase in demand of bitcoin, hence causing the price of bitcoin to soar higher and higher. if this happens, bitcoin may be selling at 50,000$ within some weeks or even days from now.
If Elon Musk should invest in bitcoins, it will definitely affect the market positively. The demand for Bitcoin will certainly appreciate and this will make the value of Bitcoin to appreciate rapidly. I want to believe it's impact in crypto market will be very huge.
If he invests, the price of bitcoin will be seriously affected .it will definitely affect the market positively. The demand for Bitcoin will certainly appreciate and this will make the value of Bitcoin to appreciate rapidly. I want to believe it's impact in crypto market will be very huge.
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Not just Elon Musk but any other very wealthy person can affect the price of Bitcoin with his investment. The public's perception would be that Elon Musk may have an inside information on the expected rise of Bitcoin price in the market so the public will go gaga to buy Bitcoin. Come to think of it, such a celebrity can cause a surge that later the price would slide down because the surge was artificial.
Just by looking at what happened to Doge, we can easily guess what will happen to bitcoin. In fact, a couple of days ago, there was a sharp increase in bitcoin price when Musk wrote bitcoin on his Twitter bio. Musk has the power to move any crypto currency he wants to the top position provided he has some interest in investing.
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