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> What did he Invest in something/Tweet/Violate FTC/Profit from? Dogecoin and Bitcoin. He pumped and dumped the former pretty directly. He pumped and dumped B
by smt88 5y ago
> What did he Invest in something/Tweet/Violate FTC/Profit from?
Dogecoin and Bitcoin.
He pumped and dumped the former pretty directly. He pumped and dumped Bitcoin by saying that Tesla would start to accept it as payment, and then he said that the price was too volatile and they wouldn't actually do that anymore.
He pumped and dumped Bitcoin again later, but I forget the circumstances.
- onethought 5y agoRight, the currencies that are built on "trust-less networks" and are resistant to government interferences. But a single person can manipulate the entire currency with some tweets and a bit of capital. cool cool cool. Did Elon profit from that? i.e. He bought at the bottom and sold at the top? Or did he lose along with everyone else in the "dump" phase? Bitcoin: You don't have to trust anyone... except Elon.
- bcj7393nsk 5y ago> Did Elon profit from that? i.e. He bought at the bottom and sold at the top? That same quarter, Tesla reported almost $500 million in realized capital gains on BTC. And Elon owns Tesla stock. The rest is left as an exercise to the reader.
- onethought 5y agoYou are missing the part where they were accepting bitcoin as payment for cars. So how much of those gains were for Cars sold, vs inflated Bitcoin price based on Elon tweets?
- bcj7393nsk 5y ago