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I believe it’s the same group of people artificially (but maybe not deliberately) inflating both BTC and Tesla
by joejerryronnie 6y ago
I believe it’s the same group of people artificially (but maybe not deliberately) inflating both BTC and Tesla
- parliament32 6y agoHow can you consider a crypto (or other commodity) to be "artificially" inflated? It's not backed by anything; it's worth precisely what people are willing to pay for it, with no strings attached.
- jpsalm 6y agoWell, if people are paying for it with Tether and it turns out Tether is backed by loans or other cryptocurrencies then it would be by definition artificially inflated.
- mschuster91 6y agoBTC maybe, Tesla not - people are desperate for an investment opportunity. Europe has had negative interests (!) on savings accounts for many months... that, combined with physical gambling venues closed, normal gambling restricted and trading apps such as Trade Republic (the German equivalent to Robinhood) led to many people trying their luck on the stock market. Additionally, Tesla has the advantage that many European countries are phasing out ICE vehicles and Tesla is the solid tech lead, plus the hype machine that Elon Musk has created... it's not surprising to me that Tesla is a very much sought-after stock. And unlike Wirecard or P&R Containers, Tesla has actual cars on the road with government records certifying that number.