this post was submitted on 05 May 2025
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His wealth isn't real, its Tesla stock. Hence why he bought twitter.
I mean, he lost an entire country's BIP worth of wealth in a single day. Some people still think he has it all in cash on his bank account or something. Either they are incapable or they don't want to understand how the world's economy and market works.
People can believe Tesla is worth a huge premium but are skeptical of the price of bitcoin, as if the financial system isn't all make believe.
It's all psychology. But the difference to Bitcoin is that it is grounded in reality. Since the existence of the stock market, every stock eventually converges to its real valuation based on revenue and productivity. The converging of Tesla has already started as the overvaluation has started to correct itself.