The Dumb Fanboys

Tesla Inc sold 10% of its Bitcoin holdings and made a profit of $101 million.

The Technoking of Tesla and Imperator of Mars had this to say about it.

No, you do not. I have not sold any of my Bitcoin. Tesla sold 10% of its holdings essentially to prove liquidity of Bitcoin as an alternative to holding cash on balance sheet. - Elon Musk

This is a tweet reply by Elon Musk to a tweet of Dave Portnoy.

So am I understanding this correctly? @elonmusk buys #bitcoin. Then he pumps it. It goes up. Then he dumps it and make a fortune. Listen I own 1 #Bitcoin but #bitcoin is exactly who we thought it was. Just don’t be last 1 #HODLing the bag.

Let's look at some factual information about Bitcoin.

“$1,024,977,579,769.26″ or “₹7,63,15,21,81,90,510”.

That's the market cap of Bitcoin. In case you can't read it, it's more than One Trillion.

“$47,266,496,614 ” or “₹35,18,21,31,39,043”.

That's the 24-hour volume of Bitcoin as of now. In case you can't figure it out, it's nearly $47 Billion.

1 Trillion = 1000000 Million. 1 Million = 0.000001 Trillion. That makes Bitcoin’s market cap nearly $1000000 million.

Tesla had sold Bitcoin worth $272 million to make a profit of $101 million.

272 is 0.0272% of 1000000.

So, they decided to test the liquidity of Bitcoin with 0.0272% of its total market cap. Is that how the liquidity is tested?

Forget about market cap, $272 million is nothing compared to the daily volume of Bitcoin which is $47 billion.

These people try to test the liquidity of a cryptocurrency which is highly volatile every second, by selling 0.0272% of its market cap.

Wow. And, fanboys buy these lies. That makes me say, “Wow, people are really dumb!”.

Wait, that's not the end. The Technoking had made a promise a few months ago.