>but once Elon Musk realized that it was making him look like a PIPG, he had to reverse course
It has nothing to do with having enough impact (twitter lol) and market analysts to buy very low, announce owning millions of BTC and accepting BTC for Tesla, then selling a month later around peaks. And then doing exactly the same with Doge. Then doing it again in 2021. Oh, yes, the first sentence was about the trading value peak in 2017-2018. Nope, must be a coincidence.
Crypto has gone through what, three or four cycles now and every time the floor gets higher and the ceiling gets higher. The number of applications expands. The transaction volume increases. The liquidity increases. The stable coin value increases (now over $100B). The integrations increase. The startups founded on crypto increase. And the criticisms look less and less sane.
Tesla sold 10% of its BTC position. It still holds BTC on the balance sheet.
It has nothing to do with having enough impact (twitter lol) and market analysts to buy very low, announce owning millions of BTC and accepting BTC for Tesla, then selling a month later around peaks. And then doing exactly the same with Doge. Then doing it again in 2021. Oh, yes, the first sentence was about the trading value peak in 2017-2018. Nope, must be a coincidence.