Elon is Stacking Sats Like a Madlad - He even started buying bitcoin by selling Tesla cars!

Meme-lord and legendary businessman Elon Musk, has caught many off guard with his recent foray into crypto, and while grumpy boomers the likes of Peter Schiff ridicule him, most of us are aware that what he is doing right now, will definitely not turn out to be an unwise decision long-term.

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From no-coiner to bitcoiner

It all started with a single tweet from a well-known bitcoin evangelist, CEO of MicroStrategy, Michael Saylor. Their exchange will be written about in history books. Maybe without the graphic content, but still...

A simple tweet resulted in one of the richest men on the face of the earth to FOMO into bitcoin not only with his own money but also with his company treasury fund.

All it took was one tweet from the right person at the right time to make Elon publically flip his stance on Bitcoin. At least that's the current public perspective based on publically available information, but who's say that Elon hasn't started accumulating bitcoin and possibly even some other coins, way ahead of time?

Knowing that he will inevitably pump it by tweeting, Elon's 1.5 billion investment in bitcoin, was a no-brainer.

Not like he needs the money though, but what if it's not about the monetary gains.

People as rich as Elon don't desire money, they desire power.

Owning a significant percentage of what's about to become the largest monetary network known to man, is a very powerful position to be in.

This is good for bitcoin

Elon and Tesla aping into bitcoin brought its legitimacy to a whole nother level.

One of the richest men on the planet and his multi-billion dollar company buying bitcoin like there is no tomorrow, sent ripples through the entire business sector. From Wall Street to a small business owner in Tanzania. From accredited investors to plebs. The message has been sent across the globe.

It is omnipresent and crystal clear.

A resounding yes to bitcoin.

Musk is aware and wants others to understand that:

Holding fiat is bad
Holding bitcoin is good
Attempting to store value in fiat will result in bleeding out at least 10% purchasing power per year
Monetary energy can best be preserved by safekeeping it in the hardest asset ever created, bitcoin

Coming from a man like Elon this translates into

Tens of thousands of companies and millions of individuals starting to consider having bitcoin on their balance sheet. The significance of this shouldn't be underestimated. Elon is an extremely influential man. Countless investors have their eyes peeled on his twitter page, ready to buy anything he mentions as they know it will instantly be bought by many others.

We've witnessed how strong of an effect his words can have the markets many times.

Off the top of my head some assets he pumped with his tweets are:

$DOGE
$GME
$BTC

His tweets even have the power to bring companies from the dead.

One such example was the ironic case of Signal Advance.

A dying company on life-support, trading at 60c per share, managed to reach 70$ for a single share after a tweet from Elon saying: "Use Signal". Of course, he meant that his 49m followers should use Signal the encrypted messaging app, but apes YOLOed into Signal Advance, a company that hasn’t filed an annual report with the SEC since 2019 and had no revenue from 2014 to 2016.

But hey, tell that to them and they will just call it FUD while destroying the buy button.

As you can see from the chart, the stock has been in free-fall ever since apes came to their senses and realized that it was not just FUD but rather a painful truth revealing their monumental misplay.

The amount of capital inflow this man can generate and funnel into a specific direction from a single tweet is staggering

That's why there are so many people willing to ape into whatever he mentions.

This creates a positive feedback loop.

For this reason, the powers of his tweets only grow stronger every time he decides to use it. As more and more people see how others are making bank by investing based on his tweets, they are more prone to follow the herd and invest their life-savings, next time an opportunity presents itself.

Elon and doge - such wow

For a long time, I've wondered why Elon went on such a huge tweet-spree about Doge.

If he likes bitcoin as much as he makes it seem from his online presence, then why the hell did he spend more time and effort pumping doge than bitcoin? I mean, the man was on a rampage. Sometimes even tweeting about doge more than 5 times a day. During those wild times, doge went absolutely ballistic, climbing from 1b to 10b market cap in a matter of days.

The pumps were brutal and volatility unlike anything I've ever seen.

A few billion market cap coin doing 60%-80% swings a couple of times per day was absolutely insane to see. This made the 15-minute chart look like the daily chart. I had a very hard time perceiving such madness. It was a fucking meatgrinder spitting out dismembered bodies of normie traders selling red candles and buying gree on ones, and while some of them managed to come out of it with astounding gains, most like always, got rekt.

Those were some really crazy couple of days that got me pondering for weeks about what Elon's true intentions with doge were.

One of the most interesting theories

I've come up with is that he was actually using the doge pump in order to increase his bitcoin position without bumping up the price of bitcoin in the process.

With his inconceivable wealth, an amount of bitcoin he might want to accumulate could range in the double-digit percentages of the entire supply. The fact of the matter is that he can't actually, even if he wanted to, buy such an insanely large amount of bitcoin without pushing the price to way above what he is willing to pay for it.

Just imagine what a 1 mil bitcoin buy order would do to order books across all exchanges. I'm not even sure if it would be possible to buy such an large amount of bitcoin considering the ever-increasing outflow from exchanges into cold storage.

Take consideration that smart money is on a hunt to get your sats. Institutions, banks, hedge funds, Fortune 100 companies, and Forbes richest people are turning away from the value-eroding dollar to value-preserving and increasing, bitcoin.

If Elon really did want to buy such a crazy amount of bitcoin in such a competitive environment he would have to employ advanced schemes in order to outplay his opponents, stacking the most amount of bitcoin without increasing its price.

How could he possibly pull something like that off?

Step 1

low-key accumulate doge

Step 2

pump it with a few tweets

Step 3

Congratulations player, you've made it.

Now that the price of doge has 20x'd you can sell it for bitcoin without increasing the price of bitcoin, at all.

GGWP $ ez game ez life

5d chess if that's actually what he did.

If you've lost money on doge during the pumps and dumps, there is a possibility you've been outplayed by Musk himself.

But how plausible is this theory?

Did he really pump doge to get more bitcoin?

Well, no one except him can tell us the answer to that question.

I guess we will never know and like always, we can only speculate about what his true intentions were with promoting doge so heavily for a couple of weeks.

What we do know is that he is "stacking sats" and that he is most likely not even barely finished filling up his bags.

Tesla selling cars for bitcoin is a tale-tale sign

That there is not enough bitcoin floating around for Elon to buy as much as he wants to hold.

He is nowhere near done acquiring a large part of the entire bitcoin supply, and it will take him a long while before he is done loading up. Judging by his pace, he won't stop any time soon.

And if you ever needed more confirmation, unlike most other companies accepting bitcoin, Tesla won't sell! Elon confirmed this by saying that the bitcoin acquired through the means of selling Tesla cars, will not be sold into fiat but rather held as bitcoin.

This is bullish for bitcoin

Especially considering how many companies are following the moves of the giants in their industries. Elon and Tesla are those giants. Soon, you will see many others follow the lead. Combined, institutional frenzy, retail fomo, infinite money printing, COVID, and global financial instability, makes me believe that the supercycle theory might even turn out to be true this cycle.

A perfect storm of once-in-a-lifetime events that can materialize this unlikely outcome.

Do you know what that means fellas?

Up only for the next 10 years boiiiiiiiiiiiiiiii!

Won't go into the why's and how's, as that's not what this post is about. I'll save that topic for another time, but I will leave you with some BTC supercycle price targets as a teaser. Anywhere from 500k to 3m is what I've seen supercycle advocates call for.

Anyway, back to Elon

So far, he has done more good than bad for bitcoin but that might not stay true forever.

No one really knows what his intentions or ultimate goals with bitcoin are. As I already said, he doesn't need the money so why is he stacking it so hard now? In a fucked up world he could just be trolling. Imagine he is only buying bitcoin OTC (not increasing the price) while hyping up the market only to end up dumping us.

Now imagine he opened a short before unloading billions of dollars worth of bitcoin on the market. The price of bitcoin crashes, while his short position is in unimaginable profit.

He can then take the proceeds to pump doge out of the solar system.

Something like 10$ doge. That would be absolutely mental and quite likely the most ironic outcome that no one would have ever predicted or prepared for.

Do you know what Elon once said about fate and irony?

" Fate loves irony. The most ironic outcome tends to be the most likely to play out."

Something along those lines.

Can you even imagine doge taking over bitcoin in market cap?

Me neither.

Undeniably, this would be the most ironic outcome ever.

Especially for all of the bitcoin proponents and believers who invested years of their life and hard-earned money into it.

Could this happen though?

Of course, it could. Although very unlikely, it's a non-zero probability.

So is Elon a generally good or bad figure for bitcoin and crypto?

It's hard to say as it's easy to recognize the good he does for this space but we can only speculate about how he could ultimately end up hurting it.

I haven't made up my mind on Elon yet but something about what he is doing definitely stinks.

What do you think? Let's discuss.