Elon Musk Plays Loki and Deceives the Masses to buy Doge while Tesla buys $1.5Bn Bitcoin!

(Last Updated on February 8, 2021)

Confirmed. He just couldn’t resist could he.

And his options have been limited with how to properly protect over $14 BILLION in cash reserves from 2020, massive inflation, continued monetary expansion and a crashing dollar.

What else was he supposed to do with an exponential amount of cash growing on the balance sheet?

$TSLA files with the U.S. Securities and Exchange commission stating they have completed a purchase of $1.5 billion dollars worth of Bitcoin as their newest treasury reserve asset. The stunning SEC filing hit the books early this Monday morning on February 8th, 2021.

Tesla has purchased $1.5B in Bitcoin and will accept Bitcoin as payment for Tesla vehicles.

We hold and may acquire digital assets that may be subject to volatile market prices, impairment and unique risks of loss.

In January 2021, we updated our investment policy to provide us with more flexibility to further diversify and maximize returns on our cash that is not required to maintain adequate operating liquidity. As part of the policy, which was duly approved by the Audit Committee of our Board of Directors, we may invest a portion of such cash in certain alternative reserve assets including digital assets, gold bullion, gold exchange-traded funds and other assets as specified in the future. Thereafter, we invested an aggregate $1.50 billion in bitcoin under this policy and may acquire and hold digital assets from time to time or long-term. Moreover, we expect to begin accepting bitcoin as a form of payment for our products in the near future, subject to applicable laws and initially on a limited basis, which we may or may not liquidate upon receipt.

The prices of digital assets have been in the past and may continue to be highly volatile, including as a result of various associated risks and uncertainties. For example, the prevalence of such assets is a relatively recent trend, and their long-term adoption by investors, consumers and businesses is unpredictable. Moreover, their lack of a physical form, their reliance on technology for their creation, existence and transactional validation and their decentralization may subject their integrity to the threat of malicious attacks and technological obsolescence. Finally, the extent to which securities laws or other regulations apply or may apply in the future to such assets is unclear and may change in the future. If we hold digital assets and their values decrease relative to our purchase prices, our financial condition may be harmed.

Moreover, digital assets are currently considered indefinite-lived intangible assets under applicable accounting rules, meaning that any decrease in their fair values below our carrying values for such assets at any time subsequent to their acquisition will require us to recognize impairment charges, whereas we may make no upward revisions for any market price increases until a sale, which may adversely affect our operating results in any period in which such impairment occurs. Moreover, there is no guarantee that future changes in GAAP will not require us to change the way we account for digital assets held by us.

Finally, as intangible assets without centralized issuers or governing bodies, digital assets have been, and may in the future be, subject to security breaches, cyberattacks or other malicious activities, as well as human errors or computer malfunctions that may result in the loss or destruction of private keys needed to access such assets. While we intend to take all reasonable measures to secure any digital assets, if such threats are realized or the measures or controls we create or implement to secure our digital assets fail, it could result in a partial or total misappropriation or loss of our digital assets, and our financial condition and operating results may be harmed.”

Tesla Official SEC Statement on Bitcoin

In retrospect, it was inevitable.

Elon’s been a part of the Bitcoin community since 2012 or 2013 – he has sat on the sidelines focused on his earth shattering tech businesses and extreme success while watching BTC and other cryptos with admiration. Admiration for the tech, admiration for the people pushing financial freedom and individual rights through computer code.

Elon Musk is a cypherpunk.

How will he use his abilities to write code and help change the world, for the better?

We’ll just have to see.

But what about Doge? but but but…

It IS SAD and F’d up how Elon has mislead a lot of completely uneducated, crypto newbs into buying tons of Dogecoin because of his tweets. The pump on Doge was unbelievable since its a meme coin that has infinite supply and prints over 10,000 million new tokens daily!

The Doge tweets were just a joke – a joke just like the meme coin..

What sucks is ALOT of people will lose a TON of money and be bagholders of Doge because of Elon’s tweets.. Pretty sad.

Let’s review some of his misleading Doge Tweets for some obvious clues

Dogecoin starts pumping as Elon tweets and the memes get even better

But there was one very telling, nerdy, comic book Tweet exposing his “deception”

Loki – Thor’s half brother, the “Prince of Deception”

Wait, so @ElonMusk is claiming he’s a comic book villian who happens to be the Prince of Deception..

Pumping Doge while dumping BTC for cheap buys?

Elon played us all while playing a fictional, comic book character from Thor.

The “Prince of Deception”, Thor’s brother – Loki.

Thousands, if not millions, of people started throwing money at Dogecoin and pumped it to new, unbelievable all-time highs. Pretty fricken impressive for a meme coin with no utility other than a fun community and a cute dog meme.

Doge prints 10 million tokens a day and has an infinite market cap, yet gamblers and degenerate traders or just ignorant beginners, dove head first and are gonna be holding some heavy bags of underwater losses for years to come.

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