Elon Musk, the richest man in the world, with a net worth of over $180 billion at report time, may have silently stacked a fair share of Bitcoins for himself; but not silent enough to distract a large number of the public from the clues and hints that could make these observations true.
Bitcoin whales are known for their large Bitcoin purchases. Their arrival in the market is often highly pronounced. Whale activities have a huge impact on the cryptocurrency market as they are usually in for the long term.
Whales usually trigger a pump or dump in the market, depending on how much they buy or sell. For Musk, it can be one of two things; his company Tesla has either privately bought Bitcoins or he has independently purchased Bitcoins for himself.
Throughout the year, Elon Musk has been giving mixed signals about whether or not he has Bitcoins in his possession. Although the billionaire clarified that he didn’t own any Bitcoins, except for some 0.25 BTC sent to him by a friend some years ago, this revelation was made over two years ago.
In 2021, there are many reasons to suspect that there has been a change. Earlier this year, Musk randomly responded to a tweet from Ben Mezrich, saying he wouldn’t mind getting paid in Bitcoins. This response ushered in a lot of speculations from analysts, especially because on regular occasions, Musk is either responding to questions asked about by curious followers or simply sharing his thoughts through tweets and randomly responding to other tweets; it was the latter, which indicated that although Musk wasn’t following Mezrich at the time, he was probably paying attention to Bitcoin-related tweets.
Clearly, Musk has his eyes peeled out for the Bitcoin market, and his recent Bio change to “#Bitcoin”, which has since started a bio change trend, reiterates that. Musk’s “In retrospect, it was inevitable” follow-up tweet, which was made on the same day with no context can also be an affirmative nod to the speculations.
Prior to recent events, Musk had commented on a tweet made by artificial intelligence researcher and podcaster Lex Fridman, back in December of 2020, saying that the “Mars economy will run on crypto.” Although no particular cryptocurrency was mentioned, Musk’s recent actions point at Bitcoin as a prospective candidate.
If this is the case, then there is a possibility that the Electric car owner has already purchased Bitcoin for the testing stage. Because of Musk’s influence in the fintech world, it is likely that he may not immediately make his Bitcoin holdings public (if and when he buys them, that is). In the meantime, analysts are keeping their fingers crossed for when he makes the big reveal, as many already claim he has a decent chunk of Bitcoin in his possession.
