Crypto
Home›Crypto›Bitcoin›Influencer sells $2.5 million in cars to buy more Bitc…
Influencer sells $2.5 million in cars to buy more Bitcoin
TheStreet reports Carl Runefelt bought via multiple limit orders near Bitcoin's 200-week moving average, while warning against using high leverage around the long-term level.
A Bitcoin-focused social media influencer, Carl Runefelt, said he sold two Ferraris valued at a total of $2.5 million to buy more of the cryptocurrency, according to TheStreet.
Runefelt, known online as "The Moon," made the disclosure on his podcast on July 24, framing Bitcoin's current dip as an opportunity to accumulate ahead of what he called a more reliable phase in the cycle.
He pointed to Bitcoin's 200-week moving average as a key reference level and cited prior periods when the price traded near it, including a drop below $4,000 during March 2020 before rising to $64,860 in April 2021.
Runefelt also said he uses multiple limit orders to build an average entry near the support zone, and warned that taking highly leveraged positions around the indicator can be risky if the price falls below it, potentially triggering stop-loss selling before a rebound.
Latest closeBitcoin $63,547.54 ▼0.3%