Does Elon Musk own Bitcoin? Billionaire Elon Musk is a huge | Speeder on Binance Square

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Does Elon Musk own Bitcoin?

Billionaire Elon Musk is a huge fan of cutting-edge technology and is usually ahead of the curve when it comes to finance, but he's not a bitcoin bull. The co-founder of Tesla Inc. revealed on Twitter that he owns only a tiny fraction of one bitcoin token.

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i took this screen shot earlier in Aug 2023, who knows that the BTC prices went 3X in just 7 months #Write2Eam

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Bitcoin Hits a (Nice) All-Time High of $69,000 With Wall Street in ‘Buy Anything’ Mood For obvious reasons, $69,000 is a holy number in the world of bitcoin. In November 2021, during the last crypto bubble, the digital currency surged to an all-time high $68,990.90 — painfully close to the sex-joke number Elon Musk loves so much. But it crashed in price over the following year as a succession of frauds was revealed, effectively demolishing the crypto market as we knew it. But, surprisingly, bitcoin is back. On Tuesday, more than two years after the last all-time high, the bitcoin nerds got another chance to laugh. At about 10 a.m. in New York, bitcoin surged past its all-time high and for a brief moment attained the nice level of $69,000. (This being bitcoin, almost immediately it then fell by about $5,000.) Bitcoin is, of course, having a big moment. Its 2024 price surge is lubricated by the dozen exchange-traded funds, managed by the likes of BlackRock and Fidelity, that are making it easier for both institutions and regular investors to get in on the action. There will also be a technical change to the coming supply of new bitcoins, called the halving — theoretically, it’s a mechanism that will make bitcoins more valuable in the future (which remains to be seen). #Write2Eam #BTCPrize

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Bitcoin briefly hits an all-time high, less than two years after FTX scandal clobbered crypto NEW YORK — Bitcoin has hit an all-time high less than two years after the collapse of the crypto exchange FTX severely damaged faith in digital currencies and sent prices plunging. The world’s largest cryptocurrency jumped 4% this week and briefly surpassed $68,800 Tuesday, according to CoinMarketCap. That’s just above bitcoin’s previous record set in November 2021. The volatile asset soon fell some, standing at just under $62,000 as of 3 p.m. ET, but the price is still up more than 175% from one year ago.Gains in recent months have been fueled by the anticipation, and eventual U.S. approval,of bitcoin exchange traded funds earlier this year, which provided access to a much broader class of investors. The price for bitcoin has surged about 60% since the approval of bitcoin ETFs in January, an easy way to invest in assets or a group of assets — like gold, junk bonds or bitcoins — without having to directly buy the assets themselves. #Write2Eam

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Four questions every crypto investor needs to consider Whether you buy into one of the new spot Bitcoin ETFs or open an account with a cryptocurrency exchange,crypto investing is not for everyone. As with any investment, you need to take time to research and learn about what you're buying. Here are a few things to ask. 1. Do you understand the risk? We've already touched on some of the risks involved in crypto, such as volatility and questions about its long-term potential. Another is that there are limited investor protections. Unlike money in a bank account which is covered by FDIC insurance against bank failure, if your crypto platform fails, you could lose everything. One way you can mitigate this is to put your crypto into a crypto wallet that you control. Just be aware that if you lose your security information, you might lock yourself out of your wallet forever. 2. How will you cope if you lose your crypto investments? Losing money is always difficult. But it is more manageable if you only invest money you can afford to lose. Some people lost their life savings when Terra's Luna cryptocurrency collapsed. If you want to buy crypto, make sure it is only a small part of a wider portfolio. That way, if the crypto market does crash again, it won't derail your retirement plans or leave you unable to pay your rent or mortgage. 3. Are you comfortable with the regulatory environment? Cryptocurrency is a relatively new and unregulated market. The SEC is pursuing cases against several top crypto exchanges because it believes many cryptocurrencies are trading as unregulated securities.The outcome of these cases -- alongside broader moves to introduce stricter crypto regulation -- could change the way people buy and sell crypto in the U.S. 4. Why are you buying cryptocurrency? Many people bought cryptocurrency in 2021 because they were scared of missing out, only to get burned when prices crashed. Don't buy Bitcoin because other people are or because you think you might get rich quickly. History has already shown us that crypto prices can rise and drop

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Cryptocurrency is still a risky asset I hold Bitcoin (along with other cryptocurrencies) and am certainly relieved to see prices recover. Even so, price doesn't reflect value. It can be arbitrary and move based on speculation and market sentiment. To put it another way, the fact that Bitcoin just erased the losses of recent years doesn't automatically make it a safe investment. If you're considering buying Bitcoin, think about the fundamentals. Some Bitcoin believers think that cryptocurrency could become the digital currency of the internet. Others argue it is like digital gold, a store of value that cannot be controlled by governments. Others think it could take a portion of the international remittance market, as it makes it easy for people to move money internationally. Bitcoin's critics say it doesn't have any intrinsic value. Despite all the hype, people are not using it as a currency -- in part because of the huge price fluctuations. Some argue that Bitcoin is mostly used for illicit activities, such as money laundering and ransomware. Plus, Bitcoin mining consumes vast amounts of energy, with a carbon footprint the size of a small country. #Write2ern #BTC_live_market_update

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