Musk Inquiries About Moving ‘Big Transactions’ to Bitcoin

Elon Musk

Photographer: Liesa Johannssen-Koppitz / Bloomberg

Elon Musk asked about converting Tesla Inc.’s “big transactions” balance sheet. in Bitcoin in a Twitter exchange with Michael Saylor, a prominent reinforcer of the digital currency.

In a series of tweets, Saylor, chief executive officer of Microstrategy Inc., urged the billionaire to move US dollars from the electric-car manufacturer to Bitcoin and “make your shareholders a In favor of $ 100 billion. ”

“Other companies on the S&P 500 would follow your lead and in time it would grow to become a $ 1 trillion favor,” Saylor added in his tweet on Sunday.

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The exchange came after Musk posted a suggestive image indicating he was tempted by Bitcoin, which has more than tripled its value this year.

“Are such large transactions even possible?” Musk tweeted in response to Saylor. He was reassured by many, as was Saylor, who said he had bought more than $ 1.3 billion in Bitcoin and offered to share his “playbook” offline.

Bitcoin’s surge to record highlights after investors raced about exposure to the rally – even if it meant paying a high mark. As the largest cryptocurrency raises over $ 23,000 for the first time this week, the mania pushed the price of the Bitwise 10 Crypto Index Fund is as much as 650% higher than the value of its holdings, according to data collected by Bloomberg.

Tesla, which was to begin trading as a member of the S&P 500 Index on Monday, experienced a surge eight times this year. The earnings drove Musk’s own fortune after adding $ 140 billion to his net worth of $ 167 billion, making him the world’s richest person, according to the Bloomberg Billionaires Index.

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– With the help of Joanna Ossinger