The “true intentions” behind Musk, the godfather of cryptocurrency, calling the shots

The best way to make the regulation “speechless” is to fight with each other’s words and practices – I’m just kidding, it’s not even possible!

Musk’s recent series of actions regarding cryptocurrencies have been dazzling, and his influence on the cryptocurrency market has actually established him as a global “godfather”.

However, Musk’s recent announcement that Tesla would no longer accept Bitcoin payments has angered Dogcoin co-founder Jackson Palmer.

Jackson Palmer tweeted on Thursday, May 13, that Musk has always been a selfish liar and will remain so in the future. He quickly deleted the tweet, though.

The "true intentions" behind Musk, the godfather of cryptocurrency, calling the shots

However, the “trolling” of the godfather Ma is really confusing: are you for cryptocurrency? Or are you against it? One moment he said he would let dog coins go to the moon, and then he said dog coins are a scam; one moment he announced that Tesla accepts bitcoin as a payment method, and then he withdrew it, saying that bitcoin consumes too much energy and does not conform to Tesla’s energy-saving and environmental protection image.

These are all superficial, but privately determined by the “two-tier struggle” that Ma is waging. And he is winning both battles with the power of the cryptocurrency market and his fans.

The cryptocurrency world will also be turned upside down by the battle of the new godfathers

Two wars
Anyone familiar with Musk knows that in addition to having two very high-profile bullish companies, Musk has been fighting two wars that have never stopped.

Since Tesla and SpaceX are two barely profitable, yet very cash-burning companies, Musk has been under pressure to raise money.

Remember Musk’s cry in 2018? Musk tearfully recalled the tremendous pressure he faced in the past, arguing that this past year was the “toughest, most painful year” of his career, in large part because of the Tesla short.

Musk, as an industrial capitalist, is most afraid of financial capitalists. Tesla has also been living on financial capital to this day: Musk made a Series A lead investment in Tesla in 2004, becoming the company’s largest shareholder with less than $7.5 million in personal funds (Musk is currently worth $100 billion, and the “cost” is only $10 million).

After “leading” the Series A, Musk soon led Tesla’s $13 million Series B. Soon after, Musk co-led a $40 million Series C in 2006. Because the money was burning fast, Musk led a fourth round of $45 million in 2007, and this time the two Google founders were convinced to participate.

Soon after, in 2008, Tesla was on the verge of collapse again, and Musk convinced Daimler to trade $50 million for a 10% stake in Tesla to pull it back from the precipice of bankruptcy.

In 2010, Toyota was persuaded to provide Tesla with about $50 million in financing.

In 2009, the U.S. Department of Energy provided Tesla with a $465 million low-interest loan through the High-Tech Vehicle Production Credit Program. On June 29, 2010, Tesla raised $226 million from the public in an IPO on NASDAQ at $17 per share.

In 2013, Tesla raised $1.02 billion from the capital markets (including $660 million in bonds) and repaid the previous loan from the U.S. Department of Energy in full; in 2014, it raised another $2 billion to build a factory; in 2015, it raised $738 million to build Model X stock; and in 2016, it raised another $1.46 billion for Model 3. After so many rounds of financing, Musk has always been the largest shareholder of Tesla.

Shorted by the capital market in 2018, Musk “cried” – the whole person was on the verge of collapse, no financing, shorted, meaning that when Tesla was about to bear fruit, yielded to financial capital and surrendered control. (Financial capital control of industry, the normal way is to provide financing, gradually gain control; in the case of failure to gain control, usually is to make you lose the ability to finance, and finally had to sell at a low price cheap, financial capital and then come back to buy, and then gain control) This is like raising your own children, and then give them to others for free to sell their lives as painful.

At the same time, Musk began to put the privatization “fake news”, was the U.S. regulatory “eyes”. Musk from then on with the United States regulatory also dislike, “Iron Man” himself can not say: regulation you sit back and watch this group of financial capital with shorting, openly rob me of the fruits of labor no matter, I counter-attack a little, you come back to rectify me!

The “weapons” of the cryptocurrency circle
Since then Musk, despite surviving, but he himself knows that one day financial capital will make a comeback, there are still a bunch of people singing short and waiting for an opportunity to short Tesla, Tesla is still not strong enough to make its own blood, to disprove all the doubts of the point.

So independent of the existing financial system of the cryptocurrency circle, for Musk to provide a “way out”.

Musk first tested the waters of Bitcoin, and after eating it at a low price, Musk started tweeting about it on Twitter, which has 50 million followers.

Musk tweeted about bitcoin on Dec. 20, 2020 (when it had a market cap of $20 million)

Then, on Jan. 29, Musk changed his entire Twitter “profile” to Bitcoin.

Pic: On January 29th, after Musk changed his tweet, Bitcoin jumped $800 to as high as $32,000 per unit.

The "true intentions" behind Musk, the godfather of cryptocurrency, calling the shots

Musk has gotten a taste of financing in Bitcoin. Tesla then “announced” that the fair market value of its bitcoin holdings as of March 31, 2020, was $2.48 billion, meaning the company could expect to record an investment gain of about $1 billion if it cashes out the digital currency.

With the bitcoin price closing at $59,000 on March 31, $1 billion of the $2.48 billion market cap is a profit, suggesting that Tesla’s bitcoin position costs just under $25,000 per unit on average.

In other words, Musk is already “ambushed” before he sings about bitcoin.

Thanks to Bitcoin, Tesla also made its highest quarterly profit in history in the first quarter of this year: $440 million, of which the sale of Bitcoin brought in $100 million in “profit,” while the sale of cars lost more than $100 million, with the rest of the profit coming from the sale of carbon credits.

Musk, who has had his fill of bitcoin, has also set his sights on the little-known dogcoin. Dogcoin was only about $0.004 per unit before Musk cheered it on, and now it’s up to nearly $0.75, which has actually gone up by a maximum of nearly 200 times in a year or so.

The "true intentions" behind Musk, the godfather of cryptocurrency, calling the shots

Since then, Musk has announced that he will use the money raised by Dogcoin to launch a lunar satellite next year

The "true intentions" behind Musk, the godfather of cryptocurrency, calling the shots

Can you really “launch a satellite” with dog coins? Of course you can! If you have enough low-cost dogcoins in your hand, you can sell some to raise enough money for a launch.

What Musk is actually saying is that SpaceX holds a lot of dogcoins and has already raised a lot of money with them.

How much does it cost to put a satellite on the moon? The NASA space shuttle LEO, which was retired in 2011 and had lunar launch capability, cost $450 million per launch at the time. The cost now, plus the satellite, is estimated at a minimum of $1 billion or more.

At a market price of $0.40 per dogcoin, $1 billion could easily be achieved by selling about 2.5 billion dogcoins. The reason why it is “easy to do” is because the total number of dogcoins is 130 billion, and the number of dogcoins will increase steadily by 5 billion every year. And the positions in dogcoins are so concentrated that one address, suspected to be controlled by Musk, has a position of nearly 40 billion!

Musk is winning the “war”
Through cryptocurrencies, Musk has given Tesla and SpaceX the freedom to raise money.

So why the fight against Bitcoin and Dogcoin?

This is also related to the “two wars”.

When you need financing, the market is a bull market, and it is easiest to ship financing; when you don’t need financing for a while, it is better to be a bear market, otherwise all the money in the market is cut by speculators.

At the same time, overwhelmingly singing about cryptocurrencies will be targeted by regulation – Musk was called to tea by regulation after singing about dogcoins, and Twitter stopped for a while.

So, a half-joking, half-serious way to wrestle with what you say and do is the best way to get regulation to “say nothing” – I’m joking, that’s not okay!

The next time the 8 companies controlled by Musk, which one is “short of money” and needs financing, Musk will probably come out again and shout about his cryptocurrency positions.

This way of financing can not only get rid of the control of financial capitalists and ridicule regulation, but also raise money easily, why not?

And Musk’s fans are happy to support him, because after he gets the money, he is going to buy a mansion, drive a luxury car, and have a bunch of children, unlike other “little godfathers” in the cryptocurrency world. This can’t help but make other “little godfathers” begin to doubt life, and began to think: I want to do something for humanity? The future of the cryptocurrency world will be due to Musk, there will be more “saviors” who want to change the fate of mankind, or at least the fate of others.

Posted by:CoinYuppie,Reprinted with attribution to:
Coinyuppie is an open information publishing platform, all information provided is not related to the views and positions of coinyuppie, and does not constitute any investment and financial advice. Users are expected to carefully screen and prevent risks.

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