10.19 Daily Outlook, today let’s talk about Tesla and the new high in the amount of shares controlled by long-term Bitcoin holders.

Tesla’s financial report released last night did not mention Bitcoin, which is not surprising. Since the liquidation of 75% of its positions last year, Bitcoin has become increasingly insignificant to Musk and Tesla. Musk himself has never had much faith in the crypto world. All his disruptions so far, in addition to entertainment, are mostly about using his influence to recycle and cut off dog players. As the popularity of the crypto world gradually declined and even stagnated, he also found that his comments had little influence on the market, so naturally he no longer paid more attention and energy to it.

However, a very interesting point is that from a cost perspective, Tesla did not make any money on Bitcoin, and may even have a small loss. This makes people sigh that among those institutions that followed Tesla in 2021, there are still many "large leeks" who buy high and sell low. From this perspective, on the one hand, there is really no need to blindly follow the so-called institutional operations, and on the other hand, you can also analyze the logic. At present, many institutions that are losing money have also been holding on for a long time, and they may have cut their losses.

After complaining about the big leeks, another piece of news today is quite ironic, that is, the proportion of Bitcoin long-term holders has exceeded 76%, setting a record high. Simply put, this means that the chip structure is getting healthier, not only gradually flowing back to the hands of old holders (OG, whales), but they are also beginning to show a memorable super patience and the courage to overcome the test of time. From this point of view, the current short-term tense atmosphere, selling behavior and paper hand actions may just be a joke in the long run.