Elon Musk Reveals his Bitcoin Holdings, and Illustrates it’s ‘Why’ to JK Rowling

I still only own 0.25 Bitcoins btw

So, is Musk bullish on Bitcoin?

Probably is, at least more bullish than the US Dollar. Moreover, the more important thing here is that Bitcoin is becoming widely pervasive, and people are paying more attention to it than ever. As it crawls back up to $10,000 and with the four-year halving event, more people are yearning to learn about it.

The google trends data for the term ‘Bitcoin’ is seeing witnessing an uptrend since the coronovirus crash. Last years, the massive increase from $4000 to $14,000 got the internet excited about it.

Google Trend for ‘Bitcoin’While the interest is minuscule compared to the time of the crypto bubble of 2017, there is a strong correlation with the attention given by the media as well.

There are very few outside the industry who’d understand ‘halving’ completely in the first go. Yet, the search and speculation around it has been tremendous lately. Moreover, the current global economic back-drop is just right for it as well. With the expansion in the Feds’ debt balance sheet by $7 trillion since the beginning of the COVID-19 crisis, any sane person is having doubts about the future.

Moreover, while the US dollar enjoys global demand as a reserve currency, other FIAT currencies are likely to face even stronger problems. Of course, Bitcoin cannot solve everything it by waving a magic wand. Nevertheless, when corrupt regimes fall, the internet money might offer refuge to the liberators and innovators.

Do you believe in the ‘Bitcoin story’? Please share your views with us.