Bitcoin won't drop even after a $1.3B dump, Musk merger could create massive BTC treasury — buy the dip
Someone just sold $1.3 billion worth of Bitcoin through a BlackRock fund and the price barely budged — that's a powerful sign of strong underlying demand. At the same time, Elon Musk's companies are sitting on a massive Bitcoin stash that could get even bigger if Tesla and SpaceX merge.
Idea
When a $1.3 billion Bitcoin sale can't push the price down, it tells you buyers are stepping in aggressively. That kind of resilience usually precedes another leg up. Adding fuel to the fire, reports say Elon Musk is exploring a Tesla-SpaceX merger that would combine their Bitcoin holdings into a $3.3 billion corporate treasury — the fifth-largest of any company. Meanwhile, Block is rolling out stablecoin payments to 60 million Cash App users, and Mastercard just landed a New York crypto license. The entire crypto ecosystem is getting more mainstream infrastructure, which historically draws more capital into Bitcoin.