Elon Is Bad For Tesla Not Bitcoin


Tesla’s FUD bitcoin announcement doesn’t mean bitcoin is overvalued; it does mean Tesla is overvalued. Tesla cars are expensive luxury items and their purchase is justified by Tesla being an aspirational brand. That brand is extremely dependent on the mystique of Elon Musk; can Musk lose that mystique? Well, he just did with Bitcoiners and soon with others too.

There are many types of inflation in the world. The Federal Reserve prints money to fund an economic system that has become wasteful and corrupt. Elon Musk has been spending the currency of his reputation to build a company that currently can’t justify its valuation. In both cases, bitcoin is the antidote.

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