Bitcoin broke firmly below the 58 week momentum moving average. Focus has now shifted to the July $29,900 low. This level also happens to be about the average price per bitcoin for Tesla, MicroStrategy and Square.
- Tesla Average PPC : $32,600
- Microstrategy Average PPC: $31,000
- Square Average PPC: $27,500
You should fully expect the CEOs of these companies to defend their bitcoin cost basis with further buying. Mike Saylor thinks you should basically sell everything you own…. house, car, family business and lever up to buy bitcoin.
Take ALL your money and buy bitcoin. Then figure out how to borrow more money to buy bitcoin…mortgage your house and family business.”