[Taklimakan Blog] Will Musk Follow the Lead of Retail Investors?

If Elon Musk decides to transfer part of his assets to bitcoin, then the value of the cryptocurrency will quickly rush to new highs. After all, retail investors were not behind the Bitcoin rally in December. This opinion was voiced by Blockstream CEO Adam Black.

“Three new all-time highs — $24.7 thousand, $24.8 thousand, and $25 thousand — in just one day on December 25. Do you think the institutions did it? Right for Christmas? No, on this holiday, only retail players were left with keyboards, ”he wrote.

In 2020, several private investors at once transferred part of their assets to bitcoin. The most significant for the market were the investments of Paul Tudor Jones, a famous billionaire and financial guru who transferred 1–2% of his assets to Bitcoin. Jones’ example became contagious, and after him the famous billionaire and investor Stan Druckenmiller bought Bitcoin.