Isn't it funny how things in cryptocurrency can change in the blink of an eye.
One month Elon Musk is the savior of Bitcoin, crypto & the markets.
Then the next month, he is hated by all, people can’t stand him for “manipulating” the
markets.
Well if you have noticed anything about us, our opinion of him hasn’t changed...because
there is always more to what he is doing, than meets the eye.
So are you ready to look into the eye of the Musk!?
Well you don’t have a choice….it’s time for Chico Crypto!
Yeah...
Elon was the savior of the markets in February, when it was announced his company had invested
1.5 billion in the asset!
How many BTC did Telsa buy?
Tesla’s Q1 earnings released in April revealed a lot….about how the company navigated these
markets.
Using estimations from their buys...Tesla at its peak of holdings, held some 46,800
bitcoins which were purchased for around average price of 32 thousand dollars.
Although that April q1 earnings release also showed that Tesla sold some of their BTC...they
had proceeds from sales of digital assets that equaled 272 million dollars.
It is estimated, Tesla sold 10 percent of their BTC…taking their total holdings to
about 42,100 BTC….
The sale of BTC by Tesla was when the public started to TURN on Elon….but then in mid-May,
May 12th to be exact….Musk shocked the markets by tweeting Tesla would no longer be accepting
the asset as Payment for it’s vehicles.
He clarified no selling of their current BTC holdings, and they would be using it for transactions
again...once BTC mining is sustainable..and they were looking at other cryptocurrencies….
What did this do?
Immediate DIP on BTC after this tweet, the markets did not like this one bit….and because
of this.
The entire markets have turned on ELON….pretty much everyone hates him now..
Per example...Peter Mcormormack, well known Bitcoin Maxi and influencer in the space.
March 24th, before Elon started “selling” and what they call Fuding...Peter loved Elon
tweeting “Elon Musk just signalled to every other CEO that he has more faith in #bitcoin
than the $USD.
This is not the time to be selling #bitcoin.
Hodl on!”
Well aint this interesting...Peter
was
just on a podcast last Friday, let’s hear his thoughts now...It’s OK for Elon to tweet
if it’s good news, Peter loves that, like Musk Signaling to other CEOs Buy BTC..but
not if it's bad news and the reality of what is going on…
Many top influencers in the space have no spine...they think about one thing and one
thing only.
The money they either accumulate or lose..., and they will turn on people just because
of that fact….
What the surface level influencers don’t realize, is there’s a much bigger plan in
Motion….
Elon isn’t no dummy...he knew about Bitcoin and it’s proof of work algorithm that takes
an ever increasing amount of energy to create the new BTC….he explained this in February
of 2019, when he was on the ArkInvest Podcast with Cathie Wood.
Before his company Tesla got involved….
He knew about it, and understood it fully.
He said Tesla’s goal is the adoption of sustainable energy….and it probably wasn’t
a good Idea for Tesla to get involved.
But they DID, which means he has a freaking PLAN!!!
What is that plan?
Well If you didn’t know, the same day Elon Musk tweeted that Tesla was no longer accepting
BTC due to environmental concerns….news leaked from Reuters, that Tesla was seeking
entry into the U.S. renewable fuel credit market!
A renewable credit market, that they haven’t been allowed to participate in….
Why is this important?
Well if you didn’t know, there were a couple reasons Tesla was profitable in the first
quarter of 2021..and it wasn’t their cars.
This article titled: “Tesla Made More Money Selling Credits and Bitcoin Than Cars “ explains
it well.
The article states…”Tesla recorded another profitable quarter in the first three months
of 2021 even with two of its models on the sidelines, posting a net income of $438 million
while recording $10.4 billion in revenue.
This profit didn't materialize thanks to car sales, however, which is ostensibly the main
business of an automaker.
Rather, Tesla has two main items to thank for posting a profitable quarter: Sales of
emissions credits called RECs to other automakers, and sales of its bitcoin holdings.
And here is the thing coming for Telsa….this year, the other automakers are going to meet
their sustainable goals.
Sales of those RECs to the other automakers is going to DRY up!
What is Telsa to do?
Well that is why they are looking to get into the renewable fuel credit market...REC profit
is drying up, Let's get into the other one, and start selling RINs to the fuel industry.
Elon tweeted that, to please the regulators who would be approving his application.
Environmental regulators in the United States are not too fond of BTC.
Right now...
Why do I think this?
Well the largest and most powerful regulator, the Environmental Protection Agency, EPA...who
elon wants on his side for his application..might just be getting involved with a bitcoin mining
battle in Upstate New York.
The company?
As we can see from the article Greenridge Generation….
Now...when Elon decided to tweet BAD about Bitcoin May 12th...Micheal Saylor jumped in,
and explained bitcoin is getting more efficient as it scales.
What is the first article Elon references in rebuttal to Saylor??
The Greenridge battle in Upstate New York….
Obviously this was done to appease the EPA!!
And get his application through...Elon’s company Tesla, to survive into the future,
had to play the GAME….if they didn’t make that MOVE, their application would have BEEN
denied by regulators...no doubt about it my mind….
But go to his tweet, about them stopping accepting once again.
What did he say!
They aren’t selling their holdings, and they plan to use it again for transactions...once
it’s sustainable!
So don’t you find it so ironic….Elon and Micheal Saylor were fighting with each other
over Bitcoin’s Energy Usage on May 12th, on Twitter.
Then less than two weeks later, May 24th….Elon Musk and Micheal Saylor are back as Bitcoin
Buds...friends, and are helping to create the Bitcoin Mining Council (BMC) whose goal
is to promote energy usage transparency & accelerate sustainability initiatives within the mining
industry.
Now as we can see, from Saylor’s tweet about the BMC, one of the North American BTC Miners
on the council is Marathon Digital Holdings.
Fred Theil, CEO of Marathon was interviewed last week about the Call with Musk.
Here is what Fred said about what Elon could do to help the industry!
Theil said: “Well, Solar City is part of Tesla (TSLA).
Solar power generation is something that is a technology they have.
Tesla has huge experience in utility scaled battery storage, which is critical to the
industry.
So I think he clearly has access to technologies that would be helpful, and I think that the
industry would love to work with him to try to bring those technologies to greater use,
especially for bitcoin mining….
And Anothony Scararmucci an well known American financier and entrepreneur who actually served
as the White House Director of Communications in 2017 shares my same thoughts.
He tweeted May 13th, the day after Elon nixed BTC from Telsa this : Elon is not a half measures
guy.
I predict he will become a competitor/disruptor in the Bitcoin mining industry.
I wager 500k sats that, within a year, Tesla/Solar City will announce its entry into “super
clean” bitcoin mining.
And Scaramucci seems to have some insider knowledge about ole Elon. he tweeted this
in March 31st of this year: Elon Musk didn’t stop with Tesla.
I understand that SpaceX owns #bitcoin on its balance sheet.
Elon Musk owns over $5 billion in #bitcoin via Tesla, SpaceX, and personally.
No living person has done more to protect the planet against climate change.
Idea that Elon Musk would invest in “dirty asset” is absurd.
Future of #bitcoin mining is renewable energy.
Elon Musk sees the future 1) renewables replace fossil fuels 2) #bitcoin demonetizes gold,
RE, equities & art + becomes dominant store of value….
Hmmmmm is all I have to say.
So my friends, I’ve been saying this for a long time….Tesla has a plan, and I think
the next version of the Tesla Powerwalls will not house a Bitcoin Miner or GPU themselves,
but will have a modular add on ability to add an ASIC BTC Miner, or GPUS for Mining
other cryptocurrencies, like DOGE….
Plus, there was this news….January of 2021….Tesla unveiled a new design for the Model S and
the Model X…..which would include a 10 teraflop Gaming Unit powered by a state of the art
GPU...and yes, the GPU is just as powerful as some of the new gaming systems out there…..
But how many Telsa owners are gamers?
This isn’t for gaming...this was to turn your car into a crypto miner……
So my friends, like I said there is more to Elon than meets the eye...and somehow this
connects to his love for Dogecoin, and the satellite launch….Doge-1...which has to
do with lunar payloads and the moon.
Don’t you thinks it’ SUS that Elon tweeted this after the announcement of the moon mission?
“Someone suggested changing Dogecoin fees based on phases of the moon, which is pretty
awesome haha”....
Moon and Doge, once again...I’m going to try and figure this all out!
All the connections and make them clear!
Will it happen this week Maybe?
Next week...
Maybe.
You will know when it happens!
Cheers I’ll see you next time!