Musk, being the world's richest person, is something of an outlier. He can afford to give free money to the market for longer than anyone else, and the size of the market might not be big enough to handle the imbalance.

There's a level of irrational spending which only institutional investors can counterbalance, and they might not have the risk appetite to get into a single market on a relatively less regulated platform that could rug pull them.