Elon Musk, CEO of two of the most talked about companies in recent years, SpaceX and Tesla, is making rounds with the cryptocurrency community today.
Earlier today, the high-ranking executive and multi-billionaire said Bitcoin is his safe word in a context that many people do not understand. Nevertheless, what followed was a heated discussion and plenty of speculation coming from many members of the cryptocurrency community.
Elon Musk Asks Michael Saylor About Bitcoin
Today has been an interesting day on social media for Bitcoin aficionados. Elon Musk took him to his official Twitter profile to share a few lines on the leading cryptocurrency, including a controversial meme.
Needless to say, the tweets got huge engagement as tens of thousands of people commented, liked, and re-tweeted the content.
However, under one particular tweet response was Michael Saylor, CEO of MicroStrategy – a NASDAQ-listed company that made headlines after it converted cash balances to BTC a few months ago.
“If you want to do a $ 100 billion favor to your shareholders, convert TSLA’s balance sheet from USD to BTC. Other companies on the S&P 500 would follow your lead and eventually grow into a $ 1 trillion favor. “- Saylor told Musk.
As speculative as this may be, Musk replied, asking if such large transactions are even possible. Saylor told him they were, explaining how he bought over $ 1.3 billion in BTC over the past few months, offering his help.
Now, this is where the conversation ends. However, in a recent interview, Saylor shared another view on Tesla and other large companies when it comes to Bitcoin.
“If Tesla gives $ 1 billion dollars (in BTC) they will double their money within 12 months. If they put in $ 2 billion, they will probably generate $ 10 billion in earnings. By the way, anyone could do it. If you’re a billionaire hedge fund guy, you put a billion into Bitcoin, just put it out on the wire and tell you to do it. ”
Let the Comments Flow
All Musk took was a few tweets to release the crypto Twitter figurative “Kraken”. Thousands of replies, most of them trying to convince him of the merits of Bitcoin, flooded the tweets.
Eager to give his two cents, Peter Schiff also joined the party. To no one’s surprise, he did of the name Bitcoin pyramid scheme, essentially saying that Michael Saylor is a conman.
“Elon, don’t fall for this con. Michael, like everyone involved in the Bitcoin pyramid scheme, must recruit new buyers in the plan to keep it going. Do not leave Tesla shareholders holding the same bag as Microstrategy shareholders. “
Plenty of other influential members of the community weighed in, while Musk seemed to be here for the memes. In fact, that’s what he actually said.
Come for the comments,
wait for the memes💄– Elon Musk (@elonmusk) December 20, 2020
As for whether or not Tesla will jump on the Bitcoin bandwagon, it seems particularly remote at this point, if Musk’s views on BTC are any indicator.
After all, he did too say that “Bitcoin is almost as good as fiat money.” Was he joking? Time will tell.
Featured image courtesy of The Business Journal; CEO Magazine.
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