Altcoins Talks - Cryptocurrency Forum
Cryptocurrency Ecosystem => Bitcoin Forum => Topic started by: MrSpasybo on April 28, 2021, 02:41:42 AM
-
Musk stated that “Tesla sold 10% of its holdings essentially to prove liquidity of Bitcoin as an alternative to holding cash on balance sheet,” adding:
“I have not sold any of my Bitcoin.”
As reported by Cointelegraph, Tesla sold a portion of its Bitcoin holdings in the first quarter of 2021, generating net proceeds of $272 million.
Source: ‘I have not sold any of my Bitcoin’: Elon Musk (https://cointelegraph.com/news/i-have-not-sold-any-of-my-bitcoin-elon-musk)
Tesla sold 10% of Bitcoin which they bought!!!
However, this is not the most important thing, even the fact that Elon Musk inadvertently admits he owns BTC is not something we notice. I want to talk about one more important thing that can make the buying pressure of BTC & the top altcoin increase terribly: accounting tricks with crypto.
+ If value of crypto decreases company that hoards crypto can use the lose to declare, deduct from the profits earned, leading to tax reduction;
+ If value of crypto increases, company does not have to pay additional taxes because it has not yet liquidated their crypto assets;
+ If company need, it could sell crypto to beautify the profit figures, Tesla did it by selling $110M in BTC and got a very nice accounting statement, making investors happy.
As such, we can see that other companies are just storing BTC, while Tesla uses BTC as an art of economics.
I believe that other companies have realized the potential of crypto in their own economies, and we will have more large businesses entering the crypto market to enjoy benefits of the art of accounting, which Tesla demonstrated.
Do you think this will be the main driver of BTC price reaching $90K-100K this year and total crypto cap reaches $6T?
-
Nice one. I now realized the kind of genius that Elon Musk is having when he decided to allow Tesla to accumulate, hold and then trade Bitcoin. And of course, since these people are really for profit, it is working to their very advantage. I can easily connect this with what Robert Kiyosaki has had been advocating all along: get into the quadrant of being an entrepreneur and investor and a new world can be open for you. Anyway, Elon will never be Elon if has not that necessary quality of a successful serial investor and entrepreneur through the years. Let other big and small companies learn this important lesson.
-
If a company sells its bitcoins and shows profit on this transaction in its reports, this is quite possible. However, how can you show the damage, if necessary, without selling bitcoins at a loss? I do not think that's possible. However, even if we assume that this is still possible, the tax authorities will quickly change their rules to eliminate possible manipulation of profit and loss in cryptocurrency.
-
Tesla and other companies are showing that crypto is here to stay, and its mainstream adoption is only going to increase. As more companies hold bitcoin on their balance sheet, so the finite supply is depleted even more, and this is likely to cause a supply-side squeeze and boost prices over the longer term.
-
New big companies hace started taking crypto very seriously they are investing in crypto more more to make profit and use in tye bad situation of the company. These huge investment in crypto making bitcoin fly and also spreading the news around the world attracting more people to crypto.
-
With this step Elon musk and his tesla company took, it's sure that alot of other companies both big and small will be right now planning on how to step in and test the water, Elon is freely advertising crypto currencies and its one thing I love about him, soon, different companies both big and small will start pouring hundreds of thousand, million and billions of dollars into bitcoin and other top coins, the rise will be crazy and historic.
-
If a company sells its bitcoins and shows profit on this transaction in its reports, this is quite possible. However, how can you show the damage, if necessary, without selling bitcoins at a loss? I do not think that's possible. However, even if we assume that this is still possible, the tax authorities will quickly change their rules to eliminate possible manipulation of profit and loss in cryptocurrency.
This is also hard to believe, but it is the US regulation on corporate tax. This is also one of the outstanding advantages of storing crypto. I think we'll see an example soon as the price of BTC falls during the upcoming crypto winter.
Maybe the US will have a new regulation on this, in the meantime we could see many performing arts of crypto in traditional economy ^^
-
Do you think this will be the main driver of BTC price reaching $90K-100K this year and total crypto cap reaches $6T?
I don't know if it can be the main reason, but it is probably one of the reasons for other big companies to follow investment in crypto or Bitcoin. The big confidence of Elon Musk to hold his Bitcoin, also can make other big companies try Bitcoin investment. Looks interesting to see how Bitcoin attracts top people and big companies in the world.
-
Large companies have recently started investing in bitcoin. Tesla, the creator of Elon Musk, not only uses bitcoin, but also stores Doge cryptocurrency. Paying taxes for storing bitcoin is a good thing. Yes, I think that 2020 is the beginning of a position for large companies to enter cryptocurrency, thereby making a plus for bitcoin.
-
Currently, many large companies are starting to get to know crypto and even investing in it. of course, that is good and will be profitable if it can be managed properly. nothing is impossible in the crypto market especially after many big companies have supported it
-
money from the cue ball goes on the air; ether lagged very behind in growth. Fundamentally everything is in place; technically overly bullish too. I think 0.1 cue ball per ether is a minimum, which will not take long. Ether is very underestimated, I think
-
I have not seen anywhere information on how many bitcoins Elon Musk acquired, but the very fact that he speaks of their ownership and hold can be perceived positively by those who read his words between the lines. I wonder when Elon Musk writes that he sold part of his bitcoins how the market will react to it ...
-
It is possible that BTC price can go to $90K or $100K. It can happen if the bullish trend lasts in the next several months. If bullish can last till Q3 of this year, I am sure we will see the Bitcoin price reaches $90K or more. It is not only my prediction but some experts have stated this. However, personally, I expect that the price of Bitcoin can achieve $100K.
-
Do you think this will be the main driver of BTC price reaching $90K-100K this year and total crypto cap reaches $6T?
At the moment I just imagine, if the top brand on the list below had more Bitcoin than Tesla had,
we can only see Tesla accepting and owning Bitcoin because Elon musk is always updated about crypto on his twitter.
I believe that if in the future some auto companies and online shops accept more Bitcoin payments then we will soon see the crypto market cap hit 6T.
(https://i.imgur.com/Ejy8iMI.png)
Acceptance of Bitcoin payments will always be accepted at other big companies, we just need to wait and be patient because some countries have strict rules about the use of Bitcoin,, Cheers ;)
-
Certainly, We do not know whether he sells his 10% of Bitcoin holding or not but Yes, more companies can follow the Tesla art of accounting. I believe after Elon many other big or small investors will buy BTC and Probably this could be the biggest reason for BTC to touch new heights in the coming months. BTC is getting huge popularity through Elon.
-
Bitcoin showing now very bullies mode so I expected Bitcoin price soon touch 100k usd just hold and patient good luck every bitcoin holder
-
It proves that it will be better if in manage crypto we also have art, must be smart in reading the market so it will make us learn to manage assets properly to get the profit that is expected. The crypto market is constantly changing and it's possible that the market will rise
-
Do you think this will be the main driver of BTC price reaching $90K-100K this year and total crypto cap reaches $6T?
I don't know if it can be the main reason, but it is probably one of the reasons for other big companies to follow investment in crypto or Bitcoin. The big confidence of Elon Musk to hold his Bitcoin, also can make other big companies try Bitcoin investment. Looks interesting to see how Bitcoin attracts top people and big companies in the world.
Elon Musk's statements regarding individual cryptocurrencies have a short-term price effect. The cryptocurrency market develops according to its own principles. As evidenced by the current deep and prolonged price drop, with the price of bitcoin now at just over $20,000. Therefore, the price of $ 90,000 Bitcoin is not expected in the foreseeable future.
-
Elon Musk has a way with words, and being that smart, he knows how the typical investors' mind works(he has made a few gaffes, we know). But watching his handling of bitcoin and Dogecoin, and then way the is taking up on Twitter, shows he has a shrewd mind on his shoulders. It's all about the Benjamins, baby
-
Elon Musk recently announced that he wants to release a universal application that will combine a payment system, a news portal and a social network. Maybe that's the reason why he bought Twitter.
-
The way bitcoin touched the $68K mark, it seemed that the path to $90K has become easier for bitcoin, but the way the market has slipped downwards, it has made its path difficult. The way to go above this can also be 2023.
-
Honestly speaking I can't say is it possible or not as you told us how Elon uses BTC as an art of economics. Certainly more players will come to this market in the coming years as the crypto market has a long way ahead but nobody can predict BTC price can hit $90K -100K this year and in my opinion, I don't think BTC will make another new ATH this year as the bear market started sometime back so it will also take time to change the trend.
-
The way bitcoin touched the $68K mark, it seemed that the path to $90K has become easier for bitcoin, but the way the market has slipped downwards, it has made its path difficult. The way to go above this can also be 2023.
I predict bitcoin will touch more 90K USD after bitcoin halving 2024.
Maybe It will happen at 2025.
Many investors predicted about it.
Let's see.
-
The way bitcoin touched the $68K mark, it seemed that the path to $90K has become easier for bitcoin, but the way the market has slipped downwards, it has made its path difficult. The way to go above this can also be 2023.
I agree to that. And IF btc will pump to 90k from 20k, it will be the greatest bull crypto market we have ever seen :)
-
I predict bitcoin will touch more 90K USD after bitcoin halving 2024.
Maybe It will happen at 2025.
Many investors predicted about it.
Let's see.
Well, it's still a long time, more or less 3 more years until 2025.
If at this time I'm also optimistic that the price of Bitcoin can reach $90k, even that could be more than $100k.
-
The way Bitcoin prices started to rise a few days ago, everyone thought that the Bitcoin price might exceed one million dollars this year.But all of a sudden the bitcoin price started to fall and what has been dumping so much is that it has come down to 18 thousand dollars.
-
The way Bitcoin prices started to rise a few days ago, everyone thought that the Bitcoin price might exceed one million dollars this year.But all of a sudden the bitcoin price started to fall and what has been dumping so much is that it has come down to 18 thousand dollars.
As I said before, bitcoin will struggle as long as this year, or maybe at the coming year
Bitcoin will more stable at 2024.
That's normal, because bitcoin halving at 2024.
-
There was a time when bitcoin touched the $68k mark, investors were very excited that bitcoin would go above $90k but after that bitcoin continued to fall. Investors are still confident that bitcoin will hit the $90k mark in the near future.
-
May it will happen after 2 year I think so now is down trend so wait for bitcoin can cross 23k then market can go up so hold your founds and invest in good project.
-
There was a time when bitcoin touched the $68k mark, investors were very excited that bitcoin would go above $90k but after that bitcoin continued to fall. Investors are still confident that bitcoin will hit the $90k mark in the near future.
Not only hitting $90k but surpassing it too. We should at least look at the history of Bitcoin and how much it came back up after falling to its low in all the seasons. Investors are always fearful when the market starts seeing red and surprisingly forget that this is the usual pattern of the market. I too believe that Bitcoin will see another ATH 2024 after Halving.
-
May it will happen after 2 year I think so now is down trend so wait for bitcoin can cross 23k then market can go up so hold your founds and invest in good project.
agree with you, I think bitcoin will reach more 90K at 2025 after bitcoin halving..We should hold our digital asset until two years again.
It's good for us to gain big profit at the coming future.
-
I don't want to believe in Elon again because his purpose is only for business and money, not for the development of crypto and its technology. so far, we have several things that we expext to have more value and higher price. yes, that is the Bitcoin. but nothing is easy for reaching that rate. in fact right now is stilll bearish. but personally I believe that someday, the price of BTC will be able to reach it or higher.
-
I don't want to believe in Elon again because his purpose is only for business and money, not for the development of crypto and its technology. so far, we have several things that we expext to have more value and higher price. yes, that is the Bitcoin. but nothing is easy for reaching that rate. in fact right now is stilll bearish. but personally I believe that someday, the price of BTC will be able to reach it or higher.
A businessman always think about business.
So we should own research.
I think bitcoin has potential to hit more 90K USD after bitcoin halving 2024.
Maybe we will see it on 2025.
-
I don't want to believe in Elon again because his purpose is only for business and money, not for the development of crypto and its technology. so far, we have several things that we expext to have more value and higher price. yes, that is the Bitcoin. but nothing is easy for reaching that rate. in fact right now is stilll bearish. but personally I believe that someday, the price of BTC will be able to reach it or higher.
A businessman always think about business.
So we should own research.
I think bitcoin has potential to hit more 90K USD after bitcoin halving 2024.
Maybe we will see it on 2025.
Businessmen like Elonmusk are indeed purely with the aim of making profit and will not be purely for other purposes, it is impossible for businessmen to just want to be known, not for the main purpose of making profit. so don't get your hopes up with Elonmusk, just watch when bitcoin is corrected he can't do anything to be able to boost it instead he looks for an opportunity to sell with the aim of buying again if the price gets worse. that's the nature of business people and we can't beat it but why do so many still believe in his tweets.
bitcoin is very difficult to reach renewable ATH if the correction is not also completed, because it is estimated that this year bitcoin will only be able to do in the $25K-$30k range, and move slowly to increase the following year, will only reach renewable ATH after the next halving has passed.
I agree that there will be ATH maybe 2025 and not 2024, so there is still time to buy and invest.
-
The basic factor that influence bitcoin price are demand and supply.
When demand is so high at the limited supply, I think bitcoin price will rise. It will touch 90K USD at 2025.
Let's see.
-
Musk stated that “Tesla sold 10% of its holdings essentially to prove liquidity of Bitcoin as an alternative to holding cash on balance sheet,” adding:
“I have not sold any of my Bitcoin.”
As reported by Cointelegraph, Tesla sold a portion of its Bitcoin holdings in the first quarter of 2021, generating net proceeds of $272 million.
Source: ‘I have not sold any of my Bitcoin’: Elon Musk (https://cointelegraph.com/news/i-have-not-sold-any-of-my-bitcoin-elon-musk)
Tesla sold 10% of Bitcoin which they bought!!!
However, this is not the most important thing, even the fact that Elon Musk inadvertently admits he owns BTC is not something we notice. I want to talk about one more important thing that can make the buying pressure of BTC & the top altcoin increase terribly: accounting tricks with crypto.
+ If value of crypto decreases company that hoards crypto can use the lose to declare, deduct from the profits earned, leading to tax reduction;
+ If value of crypto increases, company does not have to pay additional taxes because it has not yet liquidated their crypto assets;
+ If company need, it could sell crypto to beautify the profit figures, Tesla did it by selling $110M in BTC and got a very nice accounting statement, making investors happy.
As such, we can see that other companies are just storing BTC, while Tesla uses BTC as an art of economics.
I believe that other companies have realized the potential of crypto in their own economies, and we will have more large businesses entering the crypto market to enjoy benefits of the art of accounting, which Tesla demonstrated.
Do you think this will be the main driver of BTC price reaching $90K-100K this year and total crypto cap reaches $6T?
Bitcoin has potential to hit 90K USD , but not for this year or try next year.
Maybe it will happen at the Q4 2024 or try beginning 2025.
After bitcoin halving ,I believe bitcoin will touch new ATH again.
-
I agree with the opinion above. Bitcoinhas potential to hit 90K USD.
But I think It will happen at 2025.
TBH I agree with this prediction.
Bitcoin is still strong and could be.
-
I see many member has predicted bitcoin will soar at 2024-2025.I think we should know about the reason why.
It's cause of bitcoin halving.
Many investors still hold their find for trading and investment.
They just buy and hold.
-
Do you think this will be the main driver of BTC price reaching $90K-100K this year and total crypto cap reaches $6T?
I don't know if it can be the main reason, but it is probably one of the reasons for other big companies to follow investment in crypto or Bitcoin. The big confidence of Elon Musk to hold his Bitcoin, also can make other big companies try Bitcoin investment. Looks interesting to see how Bitcoin attracts top people and big companies in the world.
Bitcoin never touched 90-100K USD.
But maybe it could be at 2025.
I agree with you, several big companies interested in bitcoin and famous people such as Elon musk support the crypto.
-
Do you think this will be the main driver of BTC price reaching $90K-100K this year and total crypto cap reaches $6T?
I don't know if it can be the main reason, but it is probably one of the reasons for other big companies to follow investment in crypto or Bitcoin. The big confidence of Elon Musk to hold his Bitcoin, also can make other big companies try Bitcoin investment. Looks interesting to see how Bitcoin attracts top people and big companies in the world.
Bitcoin never touched 90-100K USD.
But maybe it could be at 2025.
I agree with you, several big companies interested in bitcoin and famous people such as Elon musk support the crypto.
I agree with your prediction, I think bitcoin has potential to hit more 100K USD at 2025.
Yeah many investors predicted about it.
Better to buy the dip and hold it.
-
In the current state of the Crypto currency market, it is a very difficult task for Bitcoin to touch $90,000.
Musk’s comments came in response to accusations from comedian Dave Portnoy that the Tesla CEO had profited from a Bitcoin pump-and-dump engineered through his public statements supporting the cryptocurrency.
-
I agree with the opinion above. Bitcoinhas potential to hit 90K USD.
But I think It will happen at 2025.
TBH I agree with this prediction.
Bitcoin is still strong and could be.
I think the previous prediction, that bitcoin will hit $100K might be doable but I agree with you not for this year or next year but it will be after the next halving is over. so there will always be renewable ATH and it will continue to be done because it is the character of bitcoin all this time. so it's time now to continue to keep and hold on to the existing coins until waiting for the upgrade time.
-
I agree with the opinion above. Bitcoinhas potential to hit 90K USD.
But I think It will happen at 2025.
TBH I agree with this prediction.
Bitcoin is still strong and could be.
I think the previous prediction, that bitcoin will hit $100K might be doable but I agree with you not for this year or next year but it will be after the next halving is over. so there will always be renewable ATH and it will continue to be done because it is the character of bitcoin all this time. so it's time now to continue to keep and hold on to the existing coins until waiting for the upgrade time.
Many investors said and predicted bitcoin will touch more 100K USD at 2025.
I think It's good for us, If will be.
For now we should buy and hol for long term.
We must have free money , because two years gain we will see the big pump
-
The next target of the highest of BTC is the $100,000 because this time market is down but soon the market go high and make very good target because from long time the market is down regularly but soon the market go high and it will touches the sky because soon the whales will start to invest in the market and that time the BTC will easily touches the $100,000 target.
-
I agree with the opinion above. Bitcoinhas potential to hit 90K USD.
But I think It will happen at 2025.
TBH I agree with this prediction.
Bitcoin is still strong and could be.
According to forecasts in this thread, a very strong bitcoin has not been growing in price for a year now and, being dominant in terms of capitalization, will still keep the cryptocurrency market from price growth over the next three years. A serious display of power. But it will be very interesting if, at some stage, bitcoin stops growing in price altogether, since it manifests itself in our rough physical world, where there are their own laws of financial growth, and the structures that came to our world from the virtual world are forced to obey these laws.
-
Fantastic value so expensive but in cryptocurrencies it always happens and it just takes time.
I'm sure Bitcoin will reach 90,000 USD if it reaches the right time phase because the supply of Bitcoin is really very limited and it's being contested all over the world by everyone.
I also feel that the value of 90,000 USD is a little value if you look at the All Time High of Bitcoin which is currently at 69,000 USD and we will see how happy it will be if Bitcoin reaches a new All Time High.
-
When the market starts to grow, bitcoin will show its high price by outbidding the previous one, that's when it will probably take a while to wait a little. Bitcoin will not let the market collapse, of course, another market situation may occur.
-
Do you think this will be the main driver of BTC price reaching $90K-100K this year and total crypto cap reaches $6T?
I hope you will be an angel for what you said Sir, and for sure if that happens, there will be a lot of bitcoin holders, those holders will be instant millionaires or billionaires. Many are waiting for this thing to happen at the price of bitcoin.
At least I have a bit of bitcoin in my hand instead of nothing. I don't want to cry at the end,... The rich people who believe in bitcoin and hold it for a few years are really lucky because they are waiting for their wealth to increase because of this thing when Bitcoin becomes 90k$ or more.
-
When the market starts to grow, bitcoin will show its high price by outbidding the previous one, that's when it will probably take a while to wait a little. Bitcoin will not let the market collapse, of course, another market situation may occur.
Yeah but I don't think bitcoin price will touch 90k USD at this year 2022 or next year 2024.
I think It will happen at the end of 2024 after bitcoin halving.
At the beginning 2025 crypto price will soar.
I agree with this prediction
-
Yeah but I don't think bitcoin price will touch 90k USD at this year 2022 or next year 2024.
I think It will happen at the end of 2024 after bitcoin halving.
At the beginning 2025 crypto price will soar.
I agree with this prediction
Yes, no chance that Bitcoin to reach $90k this year since we are still in the bearish season. Bitcoin ATH is only $69k and the current price is around $19k, there is no strong signal that Bitcoin to reach $90k now. I don't say it is impossible to achieve, but it should be in 2024-2025 (in the bullish season). It is true that BTC halving in 2024 may trigger the next bullish.
-
Yeah but I don't think bitcoin price will touch 90k USD at this year 2022 or next year 2024.
I think It will happen at the end of 2024 after bitcoin halving.
At the beginning 2025 crypto price will soar.
I agree with this prediction
waiting for what almost everyone predicts, that until now there will be no significant changes in 2022 and just waiting for the next halving to come.
Yes, no chance that Bitcoin to reach $90k this year since we are still in the bearish season. Bitcoin ATH is only $69k and the current price is around $19k, there is no strong signal that Bitcoin to reach $90k now. I don't say it is impossible to achieve, but it should be in 2024-2025 (in the bullish season). It is true that BTC halving in 2024 may trigger the next bullish.
I think it will be difficult to reach a price above $50K let alone up to $90K, it's definitely not possible if it's expected this year. but after entering the halving period it will clearly happen and after the halving period it will usually continue to increase in 2025, will it be able to reach 2x of ATH 2021? could be or at least 150% of ATH 2021.
-
Yeah but I don't think bitcoin price will touch 90k USD at this year 2022 or next year 2024.
I think It will happen at the end of 2024 after bitcoin halving.
At the beginning 2025 crypto price will soar.
I agree with this prediction
Yes, no chance that Bitcoin to reach $90k this year since we are still in the bearish season. Bitcoin ATH is only $69k and the current price is around $19k, there is no strong signal that Bitcoin to reach $90k now. I don't say it is impossible to achieve, but it should be in 2024-2025 (in the bullish season). It is true that BTC halving in 2024 may trigger the next bullish.
The price of Bitcoin may increase in price when the halving occurs because it will be increasingly difficult to get bitcoin and of course that way will make many people including whales to buy Bitcoin with very high amounts and will have a big impact on the conditions of the exchange.