Read item #1 of this article.
I have to agree with this view:
Reflecting what may be a common sentiment, Barstool Sports founder David Portnoy tweeted: “So am I understanding this correctly? @elonmusk buys #bitcoin. Then he pumps it. It goes up. Then he dumps it and makes a fortune.”
I even said so at the time, after numerous high profile Bitcoin buys - this is a con to entrap the unwary investor. Indeed, a closer inspection of some of these corporations shows they've been buying Bitcoin for some time and, hopefully like many of us, they are sitting on some serious profits at current prices.
No point Elon trying to lie about his objectives by shifting between his personal and corporate holdings - that's lame and totally obvious to anyone with eyes.
The game remains the same - corporations will crap on you to glorify themselves.
“TSLA made $100MM in one month of trading crypto, more than it ever made selling cars in 14 years (ex reg credits). It should shut all money-losing ventures and become a full time trading desk,” tweeted Zerohedge, the popular finance blogger.
mmm... Elon also needs to fund his psychopathic transubhumanist projects to enslave the globe, so what better way than sucking on the crypto cow.
So... no need to wonder why cryptos are so volatile.
Defis are the new junk bonds - remember those?