Muslon wonders Elon Tesla Putting Billions Into Bitcoin, Asking Whether Such Big Transactions Are Possible

Tesla and Spacex CEO Elon Musk made a series of tweets about bitcoin on Sunday. One of them is concerned about whether it is possible to buy bitcoin in “big transactions,” especially for Tesla to convert its US dollar reserves into bitcoin. The CEO of Microstrategy told Musk that this move would be a “$ 100 billion favor” for Tesla shareholders that would grow into a “$ 1 trillion favor.”

Elon Musk Bitcoin Tweets

Elon Musk tweeted about bitcoin several times on Sunday, starting with “Bitcoin is my safe word,” making the same joke he had previously on many occasions. This time he followed up with “Just kidding, who needs a safe word anyway?” His initial tweet collected over 6.1k comments at the time of writing this report. It had been retweeted more than 21.1ko sometimes and was like 210.1ko sometimes.

A few hours later, Musk tweeted about bitcoin and dogecoin. One tweet reads: “Bitcoin is almost as good as fiat money,” which many initiates have taken as a welcome insult to government money, especially the US dollar. Another tweet says: “One word: Doge.”

Musk also responded to a bitcoin price prediction made by Twitter user Mark Calloway. “I foresee an accident, I also predict it will reach $ 50k [the] the next five years, ”he wrote. Tesla’s CEO replied, “Sounds right.”

Muslon wonders Elon Tesla Putting Billions Into Bitcoin, Asking Whether Such Big Transactions Are Possible

Musk then tweeted a bitcoin meme that attracted Microstrategy CEO Michael Saylor to comment a few hours later. Saylor has become a keen bidder of bitcoin after making the cryptocurrency a major treasury reserve of his billion-dollar company Treasury.

The Microstrategy CEO told Musk: “If you want to do a $ 100 billion favor to your shareholders, convert a $ TSLA balance sheet of USD to BTC. Other companies on the S&P 500 would follow your lead and eventually grow into a $ 1 trillion favor. “Musk responded to Saylor:

Are such large transactions even possible?

Saylor replied: “Yes. I have bought over $ 1.3 billion at BTC in recent months and I would be happy to share my playbook with you offline – from one rocket scientist to another. ”Several others came in to answer Musk’s question, including Binance CEO Changpeng Zhao, who recommended his own exchange to Musk. “It’s probably not a good idea to do it in one transaction, but it can definitely be done,” he noted.

Musk’s bitcoin question has sparked a lot of speculation on social media that the CEO of Spacex could soon buy a large amount of bitcoin, possibly through his company Tesla. However, some people believe Musk was not serious about buying bitcoin with Tesla money. Peter Schiff’s gold bug, for example, chose: “It seems that Elon Musk was only joking about exposing Tesla shareholders to bitcoin. So I don’t need to convince the board not to turn Tesla into a double bubble. ”

Tesla will officially become the S&P 500 compiler open on Monday with a 1.69% weighting in the index, which is the fifth largest.

Before Sunday, Musk has tweeted about bitcoin on several occasions. Tesla’s CEO confirmed in May, “I’m still only 0.25 bitcoins,” after responding to Harry Potter author JK Rowling about how “issuing massive currency by govt central banks makes bitcoin internet money look” robust by comparison. ” The small amount of BTC Musk was given was owned several years ago by a friend, he explained in February last year, noting that he had no other crypto holdings.

In February, it addressed the growing number of scams that leverage bitcoin and other cryptocurrencies. Many of them used his name to promote their bitcoin gift plans, raking in millions of dollars. The worried Musk tweeted: “The crypto scam level on Twitter is reaching new levels. This is not cool. ”In November, he responded to Game of Thrones actress Maisie Williams asking on Twitter whether to buy bitcoin with” Toss and bitcoin to ur Witcher. “

Musk also tweeted about cryptocurrency several times last year, as “Whoever owns the early BTC deserves a Nobel prize in delayed gratification.” Apart from bitcoin, Tesla’s CEO has also tweeted about dogecoin numerous times over the years. To this day, his Twitter profile still displays: “Former CEO of Dogecoin.”

Do you think Elon Musk’s Tesla will soon invest significantly in bitcoin? Let us know in the comments section below.

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