Carl Runefelt, better known within the crypto community and perhaps beyond it for his social media name – The Moon – is one of the most popular influencers in the field. He has over 500K subscribers on YouTube and has recently crossed the one million followers milestone on Twitter.
From wild Bitcoin predictions to million-dollars NFT buys, to his recent payment app Kasta, and what he thinks about the criticism he received from his community after showing his new Bugatti while the market was starting to crash in December 2021.
From Sorting Groceries to The Moon in Four Years
Runefelt started his Youtube channel in 2017. Before diving into crypto, he was working at a groceries store in Sweden – where he’s originally from.
“I was working at a groceries store in Sweden. I wasn’t very happy with my life – I thought it was a bit boring. I felt that I wasn’t doing what I was supposed to do.”
It was the Law of Attraction and how visualizing his goals helped him achieve the lavish lifestyle that he lives today – in Dubai.
Before getting into crypto, he was investing the money he had in physical gold and silver. As a 22-year old who was starting his career, it was the inefficient banking system that had him looking for an alternative.
“I was looking for ways to make money on the stupidity and the corruption of the central bankers and I thought that was gold. But then I saw one YouTube video – someone had made a video about YouTube and I saw it and I just immediately thought it was extremely interesting.”
That’s when TheMoon’s channel was born. Now, he’s an investor in crypto, but he’s also doing anything imaginable in the industry, from providing liquidity and farming yields to investing in startups and co-founding his own project – Kasta, which is a payment app. Kasta comes as an alternative to traditional payment solutions that are part of the system that Runefelt wanted to stand against.
Bitcoin Will Never Go Back Below $10K
In December 2019, CryptoPotato had an interview with The Moon. He then predicted that BTC’s price would go to $200,000 as a great hedge against inflation. Back then, the price was hovering around $7,000.
Since 2019, and especially around the COVID-19 March 20 crash, we saw Bitcoin trading heavily in correlation with the global markets, putting the narrative to question in many people’s view.
Nowadays, he maintains that Bitcoin is still a “fantastic hedge against inflation.”
“Bitcoin is the scarcest asset in the whole universe. There is nothing out ther that can compete. However, in the short-term, if you have the stock markets completely collapsed, obviously everything will crash. It’s just how markets work.
I think that long-term, Bitcoin is uncorrelated to the stock market and other markets out there.”
Discussing the possibility of bitcoin going to zero, TheMoon strongly refuted it and even said that he thinks BTC is “never going back down below $10,000.”
“I would suggest that it’s very likely that Bitcoin is going way above a million dollars. I think that even $10 million is where BTC is going.”
Speaking on his 2019 prediction, Runefelt believes that $200K in the next three years is ‘very possible.’
Buying a CryptoPunk Was a Stupid Mistake
Runefelt has been very vocal about spending $1 million for his CryptoPunk NFT.
“The CryptoPunk I did buy, kind of at the top of the market, and that was a stupid mistake.
I kind of regret that I bought it because first of all, I paid a million dollars for it which is way too much for a JPEG, you can say. I have no clue of what its value is right now and I try to maximize its value by at least trying to do some promotion out of it.”
The Controversy and Criticism After Buying His Bugatti
At the end of 2021, while the crypto markets saw sharp declines, Runefelt shared on his Twitter profile that he bought a new Bugatti – his dream car – after selling some of his ETH. Many people criticized the move and hinted that it was done to brag.
I just bought my dream Bugatti with #Ethereum
pic.twitter.com/aPjFXaY9WX — The Moon (@TheMoonCarl) December 29, 2021
In response to this, he explained that the decision came after seeing how much money he made out of Ethereum and that it was time to take some profits and buy his dream car.
“I had a bunch of money that was stored in Ethereum and I thought – why not take some profits, why not buy something that I’ve been dreaming of for years now?”
He argued that none of it is to brag but rather to inspire other people. Did he convince his followers? Time will tell.