Markets Tesla invests $ 1.5 billion in bitcoin
The
bitcoin
seems determined to storm the level of
$ 50,000
, especially following the push that led Tesla's announcement that it will
invest 1,500 million in the most popular of the criptomonedas yesterday.
Only this Wednesday, its price is revalued by almost 20% and remains above 46,000
greenbacks
.
Now, that bitcoin soars or breaks records from one day to the next is beginning to not be news.
What is striking about these last days is the reason that agitates
to in
investor trade and that reason has a name of its own:
Elon musk
.
The founder of the electric vehicle manufacturer has spent several days writing messages on the social network Twitter encouraging the purchase of bitcoin and
dogecoin
, another cryptocurrency that before
GameStop case
hardly anyone took himself seriously.
Perhaps because its own creators,
Billy Markus and Jackson Palmer
, they created it as a parody of bitcoin and chose the face of a Japanese dog,
Doge
, As a symbol.
Be that as it may, dogecoin has also taken off in recent weeks and again yesterday benefited from Tesla's announcement on bitcoin.
Its price rose by 40% to reach
$ 0.085 per unit,
Although its capitalization, around 10,700 million dollars, is still far from that of bitcoin (more than 800,000 million).
What influence do Elon Musk's tweets and Tesla's ad have on all these movements?
Judging by the immediate reaction of the markets, a lot, but analysts warn to be cautious when it comes to getting carried away by instant fervor.
"
There's a lot to be skeptical of in the Tesla move
, which ultimately boils down to a leveraged bet on a speculative asset over which it has no long-term control, "he says
Geoffrey Smith,
Investing.com Market Expert
.
In his view, the claim that Tesla will accept bitcoin as payment for its cars "is simply a
face wash
Since neither the client nor any company would want to set their prices in a currency that can go up or down 10% in one day.
The fact that Tesla has resorted to such deceptive arguments should make one instantly suspect his true motivation. "
Messages from Tesla and Musk mask the reality that their auto business can never be profitable enough to justify its current valuation
Geoffrey Smith (Investing.com)
His suspicion is that Tesla and Musk seek
"generate paper earnings out of thin air
, as the company has done so far with emission credits, which are on a long-term downward trend.
Both have the effect of
mask reality
that the underlying automobile business can never be profitable enough to justify the current valuation of the business. "
Caution and rigor is what he also recommends
Javier Molina
, spokesperson for the investment platform
eToro
in Spain.
Depending on their position, investors should analyze the risks and rewards based on their objectives and not be carried away by unexpected news or announcements.
"That we are surprised by a news about the acquisition by Tesla of 1,500 million dollars in bitcoin should not be any reason for price chasing or entry into the cryptoactive. In an environment of very low liquidity, where it is estimated that there is no more that some 4 million bitcoin in full circulation (the rest are kept out of the
exchanges
in portfolio and we have 3 million lost), this type of news attracts new buyers who, in the absence of supply, push the price up ".
As revealing data, Javier points out that in the last 24 hours
more than 15,000 million dollars have been negotiated
real in bitcoin, compared to the 6,000 million that reached the average volume of this last week.
"In this environment of high optimism, peak sentiment and news that increases investor buying bias, one must be aware of the risks involved.
Bitcoin is on the free rise
, with a goal of $ 50,000, but when it comes to seeing when to drop the parachute, note that technically it is not until you lose $ 40,000 when the first of the
stops
or red flags.
So that's the current risk profile: $ 50,000 up, $ 40,000 down, "he says.
To continue reading for free
Sign inSign up
Or
subscribe to Premium
and you will have access to all the web content of El Mundo
According to the criteria of The Trust Project
Know more