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at 56k Elon will have made 1 billion profit.
I have my suspisions that he's suckering wealth in knowing that money always follows his. (Doge coin was a test. Its a joke meme coin with zero real world value and look what happened when Elon bought some..)
Then he'll sell. The price will correct, somewhere around the 31k mark which is actually where it should be right now.
I see his 'eco' Tesla credentials and energy hungry crypto as a juxtaposition for his long term support. Remember, he's about profit, not support..
Some advice if you want it:
I've been in crypto since 2015. Think of it as asset betting. (some will sell it as a currency but BTC is currently far to unstable to be used as such.)
Never put in what you can't afford to lose that same day.
Never panic into buying the highs on the promise of what might be..
Take profit. Forget that todays 50k sale 'could' be worth 300k in a year.
Use profits to buy the dips.
At worst take your original stake as profit, that way regardless of how high the prices climb you're NEVER out of pocket.
At best pay off your mortgage, pay off those loans and consider how much you need to really make a difference to your life and do the things you really want to do. Everything else is a bonus.
Pay your crypto taxes (different Countries have different rules.) Donate some to charity to offset your tax bill.
Lastly, avoid Alts unless you've done your research and realise the risk involved.
HTH
