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BillMasen

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Just to be clear I have no idea about crypto currency, but the text of the article got my attention. I do know that quite a few preppers own Bitcoin for prepping purposes.


Bitcoin $57,000! Elon Musk and investors stage 'speculative attack' on fiat, expert claims
ELON MUSK and leading global investors are staging a "speculative attack" on fiat currencies and central banks as the price of bitcoin soars to over $57,000, claims Max Keiser.
By Brian McGleenon
PUBLISHED: 04:31, Sun, Feb 21, 2021 | UPDATED: 09:03, Sun, Feb 21, 2021


This week in an attack on fiat money Mr Musk tweeted that companies investing in bitcoin, "is simply a less dumb form of liquidity than cash". Today the price of bitcoin reached a new all-time high of $57,000 per coin. This comes as the total market capitalisation for bitcoin exceeded $1 trillion during the week.

The astonishing rise of the world's preeminent cryptocurrency has seen weekly gains of 14 percent and the digital asset has risen by 60 percent since the beginning of February.

Speaking to Express.co.uk bitcoin pioneer Max Keiser said: "Elon Musk, along with other billionaire CEOs, is staging a ‘speculative attack’ on fiat money and by extension, government regulators and the central banks.

"This is part of the Global Insurrection Against Banker Occupation (GIABO) that was started post-Occupy Wall Street.

"We are seeing the equivalent of a Civil War being fought between billionaires and the bankers who have traditionally been allies.

"Bitcoin is uncensorable, unconfiscatable, digital gold that gives anyone who owns it a way to opt-out and defund any fiat money-based state including Britain and the United States."

Recently, Elon Musk has been making mischievous bitcoin tweets that could see him falling foul of market regulators.

After he began tweeting about bitcoin in earnest, the cryptocurrency's price began to soar.

However, during the week Mr Musk appeared to have had a change of heart regarding bitcoin.

Mr Musk was responding to provocative comments from cryptocurrency trading platform Binance CEO Changpeng Zhao, who was questioning Mr Musk's recent criticism of bitcoin.

Binance CEO Changpeng Zhao tweeted: “I’m surprised Elon’s so gung-ho on Dogecoin.

"But, this is the free decentralised world, anybody can like anything, he can like Dogecoin, and I strongly believe he isn’t associated with Dogecoin in any way.

“It’s one of those coins that started as a joke and is gaining popularity over time for various reasons that nobody expected.


“But the fact is that Tesla bought Bitcoin, not Dogecoin, so I think Elon likes it a lot personally.”

This triggered a sharp response from Mr Musk which could see him gaining the undue attention of the US Securities and Exchange Commission.

Mr Musk replied to Mr Zhao tweet by stating, “Tesla’s action is not directly reflective of my opinion".

He added: “Having some bitcoin, which is simply a less dumb form of liquidity than cash, is adventurous enough for an S&P500 company.”


Mr Musk then added: “To be clear, I am not an investor, I am an engineer.

"I don’t even own any publicly traded stock besides Tesla.

“However, when fiat currency has a negative real interest, only a fool wouldn’t look elsewhere.

"Bitcoin is almost as bs as fiat money.

"The key word is 'almost'.”

On Friday, an expert speaking to the Crypto AM said: “One week, Elon Musk is changing his social media bio to ‘bitcoin’ and sending the markets into total overdrive, the next he’s essentially labelling it as ‘BS’,”.

The expert added: “No one will be doubting that he has the right to an opinion.

"He also has the right to change that opinion, but if your opinion has so much influence on other people, well, it’s not something that should be taken lightly.

“I’m telling you now, this contrast, this apparent one-eighty, this shift of sentiment, call it what you will, is going to raise eyebrows with the authorities.”

The Daily Express has contacted Elon Musk's Tesla press office, but has yet to receive a reply
 

Karloshi

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Musk is smart. He knows if he (Tesla) buys Bitcoin but then tweets something about Dogcoin it will also drive up the value of Bitcoin. He probably made a ton of money out of it thanks to the social media sheep.

At the end of the day it is just another form of money and so long as it can still be exchanged for cash in the markets then buying it is just speculating on currency. I don't like crypto currency because of the energy it requires to run the system and mine the coins.
 

BillMasen

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I'm truly out of my comfort zone when it comes to digital currency but I know many preppers have some, thats why I posted the link. I have no idea what it means but I THINK it could be a threat to £ and $ so I best thought to post it and let others decide. and I wont invest in anything I cannot touch or cache :)
 

Brent S

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Paper money is not "real". Crypto coins are not "real". What gives them value is belief. Like Yokum berry juice. It only works if you really believe in it. Land is real. So are labor and skills.
Real or not, very recently Bitcoin was at 3000$. Today it’s at 57,000$. That’s an unreal return in a short period. Wish like hell I had bought some...
 

Brent S

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I just read that Elon’s recent investment in Bitcoin has gained more value allready than all the cars he sold last year! Yup, that’s real enough fo me....
 

Schattentarn

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There is nothing backing bitcoin. There is nothing backing the dollar but the good faith and credit of the United States but that is 100% more backing than bitcoin has. Bitcoin's actual value is zero. If you change your dollars for bitcoin, eventually, you will lose it all.
 

LindaSue

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Elon Musk said that he thought Bitcoin was too expensive this week and it dropped in price by 10k. That had rippling effects across crypto yesterday, but it’s seeming to make a rebound now this morning.
I’ve heard that the central banks are also thinking of their own cryptocurrency, in an effort to push back on Bitcoin and Dogecoin (which they have no control over). Don’t let them fool you. The object is always to make the rich men richer and keep the people working. Whatever the central banks do will not be in the best interests of the common man.
 

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