Influencer Ditches $2.5M Ferrari Collection for Bitcoin Dip

Social media influencer and investor Carl Runefelt, known online as 'The Moon,' has sold two Ferraris worth $2.5 million to buy Bitcoin during its current dip.

Runefelt attributes his wealth to crypto investments and other business ventures, citing the 200-week moving average (MA) as a reliable signal in the cycle.

According to Runefelt, Bitcoin's price has consistently surged after trading around this indicator. For example, it fell below $4,000 during the coronavirus pandemic panic selling in March 2020 but reached $64,860 more than a year later in April 2021.

To build an average entry and accumulate more Bitcoin, Runefelt placed multiple limit orders throughout the support zone. However, he warned against taking highly leveraged positions around long-term indicators, as the price can decline below the support level before reversing.