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Bitcoin Rally: Crypto Analyst Says New Peak Is Within Arms’ Reach

With the price movement of Bitcoin becoming less volatile and the markets becoming unstable once more, some people think a crash is imminent for BTC, while some believe and anticipate a potential for further upward surge.

New All-Time High For Bitcoin Is Within An Arms Reach

In a recent development on the social media platform X (formerly Twitter), Cryptocurrency analyst and investor, Crypto Jelle, has shared a bold prediction regarding Bitcoin – the leading crypto asset.

The crypto expert’s analysis came in light of the bearish speculations within the community around the price action of BTC. According to him, many people are discussing the bearish signs, pullbacks, and corrections that BTC could witness in the near future.

However, Crypto Jelle has asserted that despite the negative sentiments it “does not change anything about the bigger picture” for BTC. Furthermore, he has urged investors to “stick to the plan,” noting that a new all-time high is just “within arms reach.”

The post read:

Lots of people talking about bearish signs, pullbacks, and corrections, but these things change nothing about the bigger picture. Stick to the plan, all-time highs are within an arms reach.

Jelle has also highlighted another reason why he is bullish on Bitcoin and sticking with the digital asset. In another X post, Jelle stated that BTC is still holding above $50,000, with the entire crypto market cap approaching $2 trillion.

Bitcoin

Nonetheless, the “average Joe still does not care,” prompting him to believe that “the cycle is not over” yet. He further pointed out that there will be lucid indications that retail is about to flood the market.

As a result of this, Bitcoin is set to witness higher adoption as search interest for BTC will surge higher. Jelle anticipates that during this time, American-based crypto exchange Coinbase will return to its top spot in the app store.

BTC Compared To Warren Buffett’s Berkshire Hathaway Stock

Lately, a lot of market experts have appeared to be bullish about Bitcoin. One of these is Max Keiser, a BTC advocate, who has compared the crypto asset to the well-known Warren Buffett’s Berkshire Hathaway Stock.

According to Max Keiser, acquiring BTC today is just like buying Berkshire Hathaway shares in its initial days. It is noteworthy that during its earlier days, the stocks were sold for $1,500 each, which is now being sold for $628,000. With this comparison, Keiser advocates that BTC could potentially rise by over 41,000% at its present price of $51,000. 

This price of Bitcoin is down by over 2% in the past 7 days, currently trading at $51,147. CoinMarketCap’s data shows that its market cap is down by 0.86%, while its trading volume is up by over 6%.

Bitcoin

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Bitcoin Long-Term Call: Analyst Predicts Price To Soar To $500,000

As Bitcoin makes its way through the erratic waves of the cryptocurrency market, crypto analysts are still bullish about the asset, predicting BTC to reach unprecedented heights in the long run. 

Bitcoin To Reach $500,000 In The Long-Term

Bitcoin is currently in the spotlight as crypto expert Michael Van De Poppe has shared a bold prediction regarding BTC’s future with the community on the social media platform X (formerly Twitter). 

According to Poppe, Bitcoin is presently experiencing an “overly bullish sentiment” from market participants within the cryptocurrency space. Due to this, he claims that there is “a likelihood” for the crypto asset to reach $500,000 in the long term.

Poppe also warned investors about upcoming severe corrections prior to the surge. However, he has urged them to take the dip as a “giant buying opportunity” to position themselves for future gains.

The post read:

The overly bullish sentiment is great for Bitcoin. Long-term, the likelihood of Bitcoin reaching $500,000 is definitely there. However, corrections will happen and they will be rough. If Bitcoin corrects by 20% or more, use those as a giant buying opportunity. That’s it.

The analyst’s prediction has sent quite a frenzy in the crypto community, with several enthusiasts expressing their belief in the forecast. A pseudonymous X user stated that he agrees with the projections while noting that “BTC has the potential to grow in the long-term.”

Poppe has also shed light on his “game plan” for the upcoming period for the digital asset. He pointed out two distinct aspects of the plan in light of Bitcoin’s corrections.

“Survive a potential Bitcoin correction, as Bitcoin is at the end of this run and probably consolidating,” he stated. In addition, he has encouraged investors to navigate their investment toward Ethereum during the time of the retracement. He added that investors should hold their ETH for about “1 to 2 months and wait in cash until the correction is over.” 

BTC Is The Ultimate Safe Haven

Michael Van De Poppe is not the only analyst who believes Bitcoin has the potential to achieve the $500,000 mark. Max Keiser, a financial journalist, has also predicted that BTC will reach the aforementioned price target.

Keiser appears to be anticipating a significant crash in the stock market drawing a similar scenario to the 1987 crash. Consequently, he believes Bitcoin to be a safe haven during this period, as he expects the token to “soar past $500,000.”

The expert also noted that BTC ETFs and domestic miners will be confiscated by the US government within this period. However, despite this action, Keiser reckoned that BTC would still see more inflows than Gold in the market.

Bitcoin

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What Is El Zonte Capital? Could Keiser, Herbert, And Klippsten Shake The Market?

A new investment fund, El Zonte Capital hopes to bring the Bitcoin Beach experience to the whole world. Controversial journalists and podcasters Max Keiser and Stacy Herbert joined forces with Swan Bitcoin’s Cory Klippsten to put their money where their mouth is. El Zonte Capital has $5M in committed funding, and that’s just the beginning. 

Related Reading | Cool Valley Mayor Will Airdrop $1000 Worth Of BTC To Each Household

The place where El Salvador’s Bitcoin Law started, El Zonte AKA Bitcoin Beach is the inspiration behind the venture. “El Zonte is hyperbitcoinization. Hyperbitcoinization is economic freedom, and hyperbitcoinization is our main investment thesis,” Keiser said to Bitcoin Magazine. 

Max Keiser & Stacy Herbert Launch El Zonte Capital https://t.co/tZvf7u7Pte

— El Zonte Capital 🏄🌋🇸🇻 (@ElZonteCapital) February 15, 2022

For the last two months, Keiser and Herbert experienced the bitcoin life first-hand by living in El Salvador. Speaking about their conversations with politician and merchants around the country,  Herbert said, “We’ve been asking hard, deep questions to all of them and discussing their plans extensively. This is the place to be.” Keiser added, “After experiencing what it actually looks like, we see this as the inevitable near future for everyone else. We are riding this wave as any surfer would.”

What Will El Zonte Capital Do?

To get into the meat of things, we give the mic to Bitcoiner Ventures’ Cory Klippsten. He said, “We hope to facilitate a two-way exchange of ideas and resources, with companies around the world bringing their products and services to El Salvador, and companies based in El Salvador exporting their innovation to the rest of the world.”

The trio is no stranger to investing, nor to bitcoin-specific investment. As a partner in Bitcoiner Ventures, Klippsten has a stake in Impervious, social network Zion, the Breeze wallet; and giants like Galoy, Unchained Capital, and Bitrefill. For their part, Keiser and Herbert have investments in Kraken, Swan Bitcoin, and Bitfinex.

BTC price chart for 03/11/2022 on Bitstamp | Source: BTC/USD on TradingView.com
Should You Bet On El Salvador?

El Zonte Capital’s founding members couldn’t be more bullish on bitcoin and El Salvador. Keiser told Bitcoin Magazine, “The future is all around us. I haven’t been this excited about Bitcoin since I first heard about Bitcoin.” Herbert added, “El Salvador is drawing in the smartest, most creative people. Jack Dorsey recently said that ‘a big part of the future is happening in El Salvador,’ and he’s not wrong. The future is now and it is right here”

Bitcoin conversation was had

🇸🇻💙🚀 pic.twitter.com/kOdxvBC9yX

— Stacy Herbert 🇸🇻 (@stacyherbert) February 11, 2022

Their answer to the title’s question is a resounding yes. “We will look at education and education technology to onboard as many people as possible. El Salvador will be bigger than Singapore.” Keiser’s prediction here is ambitious, to say the least. But bitcoin is legal tender in El Salvador and not Singapore. And bitcoin companies know this. 

Can El Zonte Capital Shake The Market?

What does “hyperbitcoinization is our main investment thesis” mean? It means that El Zonte Capital is betting on the whole world adopting bitcoin. Will that happen overnight? Probably not. So, the investment fund is playing the long game. Also, they’re funding companies that will probably take years to take off. 

This is the move to watch. Our first true #bitcoin Citadel now has a warchest. Prepare yourselves ✊ https://t.co/LhpaumPmZm

— Ray Youssef (@raypaxful) March 11, 2022

So, no, El Zonte Capital will not immediately shake the market. However, if you lower your time preference, you’ll be able to see the importance of this investment fund. Their capital allocation aims to make El Salvador’s experiment successful. Plus, they’re not investing in the present of the bitcoin network. El Zonte Capital is looking at the future. Planting the seeds of what is to come.

Related Reading | The 411 On “Adopting Bitcoin,” A Lightning Network Conference in El Salvador

So, yes, El Zonte Capital and the companies they fund will hopefully affect the market at a future date. If everything goes according to plan, hyperbitcoinization will take over the world. That’s the day El Zonte Capital is betting on.

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Tether And The City Of Lugano Presented Its “Plan B.” What Did We Learn?

The City of Lugano in Switzerland, the most important Italian-speaking city outside of Italy, is not playing around. The goal of their “Plan B” is to “make Lugano the blockchain hub for the entire Europe,” according to  Tether’s Paolo Ardoino. And it will probably succeed. The city wants to attract investment and talent, attract wealth and smart minds, and they’re putting their money where their mouth is. 

Why do they have to brand their plan using bitcoin’s name, though? In NewsBTC’s previous article about the project we were very critical, and even raised the possibility of this being an affinity scam. Bitcoin name is heavily used in all promotional materials, but the protagonists talk about blockchain and crypto like there’s no tomorrow. Why would Tether Ltd. and its partners not make this a crypto project and call it a day?

We closed said article giving them the benefit of the doubt:

“And here comes the Mayor of the city of Lugano and Tether to sing bitcoin’s praises. A “blockchain not bitcoin” guy and the organization behind the most controversial stablecoin. Even though it’s suspicious, let’s give them the benefit of the doubt and hear what they have to say. They might surprise us at the March 3rd conference. Maybe Lugano has a Plan B after all.”

Do they have a Plan B? Let’s find out.

Bitcoin Legal Tender In Lugano. And USDT. And LVGA

The story’s headline is that Bitcoin, Tether, and LVGA, the city’s own cryptocurrency, will be legal tender in Lugano. Residents will be able to “pay all personal and corporate municipal taxes” in any of those cryptocurrencies. Besides that, the city’s authorities have already onboarded 200+ shops and businesses to accept them.

There’s more though. You’ll be able to use bitcoin, USDT, and LVGA to pay for: public services, parking tickets, dog taxes, ID and passport issuance fees, naturalization fees, construction permit fees, boat docking fees, tuition and meal fees, garbage taxes, signature authorization, access to public infrastructure, access to public events, rental spaces for events, and cemetery taxes.

Who Presented The News And What Did They Say?

The panel consisted of:

  •  Michele Foletti, the city’s Mayor, who spoke in Italian. 
  • Jan Ludovicus van der Velde, CEO of Tether, who spoke via video.
  • Pietro Poretti, economic development division for the City of Lugano.
  • Paolo Ardoino, CTO of Tether

The Mayor said that “Lugano is, historically, a land of technological innovation and freedom.” He believes that “Bitcoin, blockchain, and crypto” should be “disseminated and accessible to all.” And he’s convinced “that this journey will bring benefits to all the citizens and that’s why this is our commitment.”

Jan Ludovicus van der Velde briefly recapitulated bitcoin’s history and talked about the value of open-source software. About cryptocurrencies, he said that while the adoption is wide scaled, in practice, “we lack the ability to exchange with the local bakeries and tailors. We lack the ability to pay for higher education or automobiles. We’re stuck waiting for the world to catch up to the future of financial freedom.”

About “Plan B” specifically, van der Velde said, “We envision blockchain touching every facet of this city.”

NEW: Switzerland's City of Lugano will "roll the red carpet" for #Bitcoin businesses and enthusiasts 🙌 pic.twitter.com/2hujg4V4wm

— Bitcoin Magazine (@BitcoinMagazine) March 3, 2022

Paolo Ardoino stated that “with this Plan B we want to show that the tooling, the instruments, that we’re creating can be actually put to work in a local, controlled, vibrant environment like the City of Lugano.” While Pietro Poretti said that the plan was to “create the ideal conditions for companies to thrive.” They both carried the conference and announced everything else in this article.

Ardoino also explained why they chose Lugano. Among other things:

  • It’s in the center of Europe. 
  • Switzerland is safe and secure. 
  • The city is near big airports. 
  • It has forward-looking institutions and administration. 

BTC price chart for 03/04/2022 on Coinbase | Source: BTC/USDT on TradingView.com
What Does Lugano ‘s “Plan B” Consists Of, Exactly?

The only mention of something bitcoin-specific goes to Paolo Ardoino, who sang the Lightning Network’s praises and expressed his wishes for Lugano to be the “first wide adopter.” We know he meant after the legendary Bitcoin Beach in El Salvador, of course. 

Ardoino also announced a 100 million CHF fund “for start-ups that want to relocate here and want to put their headquarter here.” “Infrastructure partners like Polygon” made the fund possible. One of USDT’s versions runs on the Ethereum Layer 2 chain, and in this conference, we learned that LVGA, the city’s coin, also runs on Polygon rails. 

Besides that fund, Lugano’s “Plan B” consists of:

  • A “Start-up hub for 25+ innovative companies” 
  • A “space for meetups and workshops open to the public.”
  • “3+ million CHF investment into practical grassroot blockchain projects” 
  • “500+ student grants for education in bitcoin and decentralized technologies.” According to Poretti, this whole thing isn’t possible without “synergy with academia.”

Announcing The Bitcoin World Forum

From October 26th to 28th, at Lugano’s Palazzo dei Congressi, there will be a huge conference. So far, the confirmed speakers are Blockstream’s Adam Back, bitcoin ambassador Samson Mow, and the controversial Max Keiser. More guests are to be announced. 

Keep your eye on NewsBTC for following stories about the Bitcoin World Forum and Lugano’s “Plan B.”

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Are These The 6 Richest People In The Crypto Industry ?

There’s a lot of money in the crypto industry, that much is for sure. And we’re at a stage in which there are projects that are advanced enough for their creators to have already reaped the benefits. And then, there’s Bitcoin. Early adopters and believers, extremely long-term hodlers, are sitting on a fortune. Who’s made the most money, though?

An extremely difficult question to answer. The pseudonymous nature of blockchain technology makes inquiries like this a tall order. There are wallets that nobody knows who they belong to and hold thousands of coins. There are billionaires that have announced investments, but nobody knows which wallets belong to them. Not everyone in the crypto industry is a public figure. Not everyone in the space wants attention.

Related Reading | Ethereum Foundation Vitalik Buterin Talks ETH Inflation Rate

Taking that into account, the Coin Bureau YouTube channel launched an investigation and reached credible conclusions. If we agree that the list is for entertainment purposes and heavily western-focused, we can have fun with it. So, let’s do that.

Who Are The Six Richest Persons In The Crypto Industry?

To make this fair, the Coin Bureau focused on people who hold most of their assets in cryptocurrencies. That makes people like Coinbase’s Brian Armstrong and MicroStrategy’s Michael Saylor ineligible, because most of their fortunes are tied to their companies. It also discards all the billionaires that have a small percentage of their fortunes in crypto.

So, now that the rules are clear, let’s get into it.

6.- Tim Draper and Max Keiser

Tied at number five, two very different Bitcoin believers. 

Tim Draper: This venture capital investor made the purchase of a lifetime when he acquired all of the Bitcoin confiscated from the Silk Road dark web marketplace. “The US Marshall service auctioned off 30000 BTC which landed in Tim’s wallet for 19 million Dollars.” Those are now worth close to $1B. Draper is not part of the crypto industry, but, practicing diversification he also holds Bitcoin Cash, XRP, and Tezos. 

Max Keiser: This broadcaster and filmmaker is the reason many people around the world know about Bitcoin. An early believer, “In a 2013 episode of The Keyser Report, Max announced that he had become a Bitcoin millionaire.” As per Coin Bureau calculations, that means he held 25K BTC. Assuming he continued to buy, and bought a modest 5K more, his holdings are now worth $1B.

5.- Vitalik Buterin:

Ethereum’s co-founder starred in a Twitter public fight previously covered by NewsBTC. “Vitalik’s Ethereum wallet address has been known since late 2018 when he shared it over Twitter in response to criticism over Ethereum’s pre-mine.” This key figure in the crypto industry now holds 334K ETH, which at today’s prices is approximately $1.5 B.

4.- The Winklevoss Broders

It’s public knowledge, the Winklevoss twins invested part of their Facebook settlement in a then-new idea. The story goes as follows, “While on Holyday in Ibiza in 2013, Tyler and Cameron learned about Bitcoin and subsequently decided to buy 1% of all the BTC in circulation.” With that, they founded the Gemini exchange, a key component of the crypto industry. Coin Bureau estimated that each twin holds “between 2-3 billion dollars in cryptocurrency, mostly Bitcoin.”

3.- Chris Larsen

One of the biggest criticism that the crypto industry wields against Ripple is the incredible amounts of XRP that its founders and the organization hold. Well, “the third biggest crypto billionaire is Ripple co-founder Chris Larsen who holds anywhere between 5.2 and 7.8 billion XRP.” 

It’s worth noting that, “All XRP allocated to Ripple’s founders is subject to a vesting schedulle that will last untill 2026, assuming the SEC doesnt succed in its case against Ripple, in which case Chis’s XRP  will be unsellable by law.” It looks the other way so far, though. And the market seems to be supporting this turn of events.

2.- Sam Bankman-Fried

Did you know that FTX’s Sam Bankman-Fried was in talks with Binance’s CZ to fund an exchange together before any of the two made it big? True story. Well, Bankman-Fried is the “founder of Alameda Research and the FTX cryptocurrency exchange.”

Alameda Research made more money than god in an arbitrage trade. They figured out there was a premium hidden in Bitcoin’s prices in Japan. They bought in the U.S., sold in Japan, and made history. And a fortune. After that, “The FTX derivatives exchange is Sam’s second endevour, and it’s become one of the most popular crypto exchanges since it was founded in 2019.”

A key part of the crypto industry, through FTX he’s helped launch very successful crypto projects. Plus, they have their own coin that has appreciated over time. Coin Bureau says, “Sam’s exact cryptocurrency holdings are not known, I estimate them to total anywhere between 5 and 10 billion dollars.”

BNBUSDT price chart for 06/17/2021 - TradingView

BNB price chart on FTX | Source: BNB/USDT on TradingView.com

1.-  Changpeng Zhao

Even though CZ’s net worth is “listed at around 2 billion dollars,” Coin Bureau investigated and made some controversial assumptions. First of all, after attending a crypto conference, “CZ subsequently decided to sell his apartment in Shanghai and go all-in on Bitcoin. If my calculations are correct this banked him anywhere between 50 to 100 thousand BTC.”

The Bureau uncovered some articles in which CZ said that he likes to hold his fortune in crypto-assets, so they assume that he’s still holding to that. Years later, when Binance launched their own coin, 40% of BNBs initial minting of 100 million was allocated to the founding team. Again, the Bureau assumes he still has them, “CZ’s BNB holdings alone could easy be over 10 Billion Dollars at today’s prices.”

Related Reading | Changpeng Zhao Makes Super Bullish Case for Binance Coin

And that’s it, that’s their list. Do you think they forgot anyone in the crypto industry? Aren’t there even bigger whales in China? Are all of these people small potatoes compared to Satoshi Nakamoto himself? Let’s just take the list as a starting point and build on it.

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What If Elon Musk Is Just Making “Noob” Crypto Mistakes?

Is Elon Musk playing 4D chess or is he just making rookie mistakes? It’s easy to judge the unfortunate and inaccurate message those tweets contained, but, what if Elon simply doesn’t know better? What if the billionaire doesn’t have a master plan and instead is just learning right in front of our eyes? It’s certainly a possibility. At least that’s what TV personality and Bitcoin advocate Max Keiser thinks:

Even though Mr. Musk has been around cryptocurrencies for a long time, he’s only been into cryptocurrencies for a few months. Luckily for us, our sister site Bitcoinist is on the case from the very beginning. Let’s examine Elon’s history with blockchain-technology-related projects and try to figure out his master plan or lack thereof. It’s the least we can do.

Could Elon Musk Be Satoshi Nakamoto?

Three years ago, the billionaire had to respond to the world:

“Not true. A friend sent me part of a BTC a few years (sic), but I don’t know where it is,” he wrote in response to a recent blog post whose author, Sahil Gupta, said Musk was “probably” Nakamoto.
“Satoshi could be a collaboration of Musk, Nick Szabo, and Hal Finney. But it seems more likely that Elon read their research papers, took inspiration from them, and built the product solo,” Gupta had mused.

Even though back then Musk had nothing to do with cryptocurrencies, he was in the same orbit. And the crypto community tried to pull him in using various tactics.
DOGE price chart for 05/27/2021 - TradingView

DOGE price chart on Bitfinex | Source: DOGE/USD on TradingView.com

The CEO Of Dogecoin

Two years ago, the Dogecoin community crowned him CEO. As you might imagine, the coin registered its first Elon-pump: 

The effect on Dogecoin was immediate and decisive: as of press time, the altcoin had made daily gains against the US dollar of almost 35 percent.

DOGE/USD currently trades around $0.0033, its highest since early November.

Elon Musk quickly gained the attention of the cryptocurrency community on Twitter, with traders extrapolating potential endorsement of the wider industry beyond DOGE.

And even though Musk immediately resigned to the Doge CEO position, the relationship between the billionaire and the joke-cryptocurrency would prove to be stronger than anyone thought.

Related Reading | Goldman Sachs Exec Says Much Nope To Firm After Making Millions On Dogecoin

Elon Musk’s Initial Views On Crypto

A year ago, the billionaire finally spoke publicly about cryptocurrencies in his own “Third Row Tesla Podcast”. Bitcoinist reported:

He likes the concept and thinks that it is ‘clever.’ However, he also has concerns regarding their role in making illegal transactions. He said,

There are transactions that are not within the balance of the law. And there are, obviously, many laws in different countries. And, normally, cash is used for these transactions. But, in order for illegal transactions to occur, cash must also be used for legal transactions. You need an illegal-to-legal bridge. That’s where crypto comes in.

Oh, the “criminals use Bitcoin” argument. The first question every noob encounters. We hope that Elon already figured out that every transaction made stays engraved in the blockchain forever. And that fact is not ideal for criminals, as the DarkSide saga proves.

Tesla Adds Bitcoin To Its Balance Sheet

A mere four months ago, Bitcoin got the Elon-pump. His company was in the process of acquiring BTC and:

Elon Musk’s addition of “#Bitcoin” to his Twitter bio and potential buying activities undoubtedly played a huge role in this rally.

The coin went from $32K to $38K, and then it was up-only for a while. A few months later, Elon answered “true” to a tweet about Bitcoin and renewable energy. Bitcoinist reported:

An April tweet that proves that Elon had been thinking about the subject. Not only that, he agreed with Jack Dorsey when he made this statement: “Bitcoin incentivizes renewable energy.” Talk about a smoking gun.

A few weeks later, Elon announced in an infamous tweet that Tesla wasn’t accepting more Bitcoin payments for environmental concerns. And all hell broke loose. 

BTC price chart for 05/27/2021 - TradingView

BTC price chart on Gemini | Source: BTC/USD on TradingView.com

Maybe Elon Musk Has Not Done His Homework?

It’s hard to believe that Tesla invested more than a billion dollars in Bitcoin without researching the environmental part of the equation. But then again, while defending his position, Elon made clear that he doesn’t know the difference between the nodes and the miners:

While the fact that most miners were in China is not ideal, the nodes control the Bitcoin network. And those are spread all over the world. And anyone could start operating one by following a few easy steps, even you.

And then, just three weeks ago, he said the darndest thing about Dogecoin. Bitcoinist reported:

With his distinctive sense of humor, Musk finds it ironic that this nascent class, with the potential to be the world’s reserve currency, to be spearhead by a project that started as a joke. Musk said:

Which one it is going to be? Maybe it’ll be multiple, it should be considered speculation at this point. The point is that Dogecoin was invented as a joke, as essentially to make fun of cryptocurrencies. Fate loves irony, what it would be the most ironic outcome? That the currency that was invented as a joke, in fact becomes the real currency. To the moon!

That’s cute! Nevertheless, Doge fundamental characteristics make it an impossible outcome. The supply is unlimited and the system mints an absurd amount of new coins every day. If the world wants a perpetual-printing machine that devalues the holder’s coins by the minute, it already has the Fiat system.

And, mind you, the perpetual printing was the main part of the Doge joke. It seems that the punchline flew over Elon’s head.

Related Reading | Binance Burns Record $600 Million BNB In Its 15th Quarter

So, Could Elon Be Just Making Noob Mistakes? 

When a great mind accompanied by a big ego encounters Bitcoin, it immediately gravitates towards trying to fix it. Elon is not the first and will not be the last. Every great Bitcoin thinker out there had an Altcoin phase. They all thought that maybe a new idea had come along that made Bitcoin obsolete. 

Eventually, they all realize that Bitcoin is more of a miracle than a technology. That the economic incentives are right where they belong, and that it’s a machine with the potential of improving the world for everyone.

Maybe Max Keiser is right and Musk just isn’t there yet. 

If that’s what’s happening, we can probably count on his genius to figure all of this out.

Let’s hope he does it sooner than later.

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