(Last Updated on January 31, 2021)
It looks like WallStreetBets and the resulting attack on hedge fund vampires by the public masses is going to be a major tipping point toward larger Bitcoin adoption. Today we are seeing $GME hold the line WELL over $300 dollars which should mean a catastrophic closing of shorts and options contracts for Melvin Capital and Citadal Capital.
These parasite hedge fund companies often pile on massive amount of financial pressure by shorting these companies at the worst economic times. Is it fair and legal? Yes. Can it be ethically or morally gross? Yes.
But shorting isn’t always bad – often times fraud and misinformation from companies is uncovered by hedge fund investigations looking to short sell these companies.
This time its the old dinosaurs of corporate corruption and financial manipulation are getting hammered by the little guy!
And Elon has been paying attention.
Opt-out of the old system with Bitcoin.
The leader of the ‘free world’ and richest man on Earth added #Bitcoin to his profile.
Nothing else – just the word Bitcoin..
We’ve been growing more and more confident that Tesla would jump into utilizing Bitcoin as a treasury reserve asset. Tesla’s cash reserves have been exploding – exponentially growing even as of 2020 with the stock pumping to record highs.
Now it seems inevitable that Tesla will add Bitcoin to its treasury reserves in 2021.
Why are we so confident?
-> Elon has been involved in the crypto community well before 2017.
-> Jokes about being “Past CEO of DOGE” and great takes on Bitcoin vs. fiat money
-> Meetings with Michael Saylor who pioneered Bitcoin as Treasury Reserve Asset (also a fellow rocket scientist and business leader)
-> $TSLA has a HUGE amount of Cash reserves which are quickly becoming a massive liability with inflation skyrocketing
Tesla has a MASSIVE cash liability right now – over $14 Billion as of 2020 actually..
2017 – $3.523 Billion
2018 – $3.879 Billion
2019 – $6.514 Billion
2020 – $14.531 Billion and PUMPING!
That’s correct – Tesla has been growing cash in their reserves as an exponential rate that exploded in 2020. With stock valuations well over 30-50x price to earnings ratios and all sorts of fundamentals being thrown out the window this year it is no surprise that they need to protect these gains.
Inflation and the strong possibility of a BIG stock market crash coming with these excessive valuations and obvious bubble hype.
Bitcoin is a good option to protect cash through decoupling from the stock market, acting as an anti-inflationary hedge toward the U.S. dollar and continued money printing in 2021.
Biden, Pelosi, and Yellen are holding strong demanding for the entire $1.9 Trillion relief bill to be passed this February.
Nancy Pelosi will be proposing the bill this Monday on the senate floor.
Time for more fireworks!
Elon declares he’ll be making an appearance on the “hip” new decentralized platform, Clubhouse
Will it be an announcement about Bitcoin?
Or just another joke to hype up the community before dropping news on Tesla or SpaceX…
Guess we are bound to find out later tonight.