Elon Musk makes advances toward a billion-dollar bitcoin investment and promptly gets some free advice from MicroStrategy CEO Michael Saylor on Twitter.
That’s where two have sought and found each other: A lively Bitcoin debate has erupted on Twitter between Tesla CEO Elon Musk and MicroStrategy CEO Michael Saylor, making high waves in the crypto space. In the process, Michael Saylor took a salacious post by Musk for free investment advice.
Bitcoin on a record run!
Saylor’s „Insider Tip“:
If you want to do your shareholders a $100 billion favor, convert the $TSLA balance from USD to BTC.
According to Saylor, the radiance of a Tesla entry into Crypto Engine could entice other S&P500 companies to invest as well, thereby cranking up BTC market capitalization and rapidly increasing the value of a $100 billion USD investment tenfold.
The simple math eventually worked out in MicroStrategy’s case: since the publicly traded software company shifted about $475 million of its cash reserves into BTC, the investment has more than doubled in the wake of the Bitcoin bull run, at a current value of more than $958 million.
Musk, who is no stranger to cryptocurrencies, then rejoined the discussion and inquired of Saylor whether transactions of the magnitude were even possible.
Saylor’s answer was not long in coming. An unequivocal: Yes. He himself had invested $1.3 billion in Bitcoin in recent months and would be happy to share his „playbook“ with Musk, from one rocket scientist to another.
Tesla soon to be Bitcoin Hodler?
How serious Musk’s comments are remains to be seen. The Tesla and SpaceX CEO not infrequently uses irony as a stylistic device on the short message platform. Nevertheless, an entry into BTC is not completely out of the question. Musk has already expressed his admiration for digital gold in the past and, as the proud owner of – after all – 0.25 BTC, already counts himself among the Hodler genre. In the process, he also has to repeatedly serve as a potential CEO candidate for the MemeCoin project Dogecoin.
The balance sheet also proves MicroStrategy’s investment strategy right and could follow Musk’s words with action. A former project of the go-getting businessman, PayPal, has finally opened up to the Bitcoin economy as well. It is not unlikely that Tesla could follow suit. The appropriate Bitcoin ATM is already in place at the Gigafactory in Nevada.