In Gary Black’s Twitter thread, Michael Saylor has stated that “Bitcoin and Tesla have the same advertising strategy” as EV market leader Tesla orders surged due to competitors’ advertising on SuperBowl.
Elon Musk, a well-known tech billionaire and CEO of Tesla, replied to Gary Black that Tesla earned $1 trillion valuation “with $0 advertising spend”.
We can see that market leaders can be impacted by any market news. Bitcoin, like Tesla, also has some ups and downs as a result of other tokens’ news. On the other hand, these market leaders have a significant impact on the whole market.
Will Clemente, the lead insights analyst at Blockware Solutions, showed that Bitcoin has the best financial performance among many giants like Shopify, Netflix and Facebook. On April 20, Netflix stock fell 35.1%, recording its worst day since 2004.
The billionaire investor William Ackman, whose fund purchased more than three million shares of Netflix in January, announced on Wednesday that the firm had liquidated its stake at a loss. Mr Ackman stated in a letter to investors that Netflix will cut Pershing Square’s returns by four percentage points. This leads to a $400 million loss.
Following the year to date performance, Bitcoin only lost 13% of its value, meanwhile, Netflix, Paypal and Facebook lost 60%, 50% and 40%, respectively.
On Wednesday, Bitcoin surged to $42,108 after plunging to $38k.
DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.
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