Asking If Such Large Transactions Are Possible Is Elon Musk As He Ponders Over Tesla Putting Billions Into Bitcoin
Tesla isn’t new to cryptocurrency. Yet Elon Musk is a sceptic about investing in bitcoin. Here is what he has to say.
Keen On Investing In Bitcoin Is The Tesla CEO.
On Sunday, Tesla and SpaceX CEO Elon Musk had made a series of tweets about bitcoin. Particularly for Tesla to convert its US dollar reserves into bitcoin, one of them concerns whether it is possible to buy bitcoin in large transactions. That which would grow into a $1 trillion favour, MicroStrategy’s CEO told Musk that this move would be a $100 billion favour to Tesla’s shareholders.
Elon Musk’s Bitcoin Tweets
Starting with “Bitcoin is my safe word,” making the same joke he previously made on several occasions, Elon Musk tweeted about bitcoin several times on Sunday. Here it was when following up with just kidding, and know who needs a safe word anyway, was he this time. At the time of writing, his initial tweet garnered over 6.1 k comments. Liked 210.1k times, it had been retweeted more than 21.1k times.
Musk tweeted about bitcoin and dogecoin a few hours later. Which many commenters have taken as a welcome insult to government money, particularly the US dollar, Bitcoin is almost as big as fiat money was one tweet. “One word: Doge,” was another tweet saying.
Made by Twitter user Mark Calloway, Musk also replied to a bitcoin price prediction. He then wrote that he is predicting a crash, as also predicting it will reach $50k in the next five years. Sounds about right was what the Tesla CEO replied.
Then it was here that a few hours later, he was commenting that Musk then tweeted a bitcoin meme that has attracted MicroStrategy CEO, Michael Saylor. After making the cryptocurrency his billion-dollar company’s primary Treasury reserve asset, Saylor has become an avid bitcoin proponent.
Telling Musk was the Microstrategy CEO, convert the $TSLA balance sheet from USD to BTC if you want to do your shareholders a $100 billion favour. In the time it would grow to become as $1 trillion favour as other firms on the S&P 500 would follow your lead. To Saylor, Musk responded: ever possible are such large transactions?
To this Saylor responded:
He would be happy to share his playbook with him offline- from one rocket scientist to another as yes he has purchased over $ 1.3 billion in BTC in past months. Including Binance CEO Changpeg Zhao, who recommended his exchange to Musk, a number of others chimed in to answer Musk’s question. He then noted, it can definitely be done as probably not a good idea to do it in one transaction.
What Does Elon Musk Question?
When it is that through his company Tesla, possibly Musk’s bitcoin question has now sparked much speculation on social media that the SpaceX CEO might soon be buying a large amount of bitcoin. About buying bitcoin with Tesla’s money, however, some people believe that Musk was not serious. For example, the Gold bug Peter Schiff now opined that about exposing Tesla shareholders to bitcoin, it seems like Elon Musk was only joking. Not to turn Tesla into a double bubble, so he doesn’t need to convince the board.
Coming to be the fifth-largest, therefore Tesla will officially become an S&P 500 constituent at Monday’s open along with a 1.69% weighting in the index.
Musk has tweeted about bitcoin on a number of occasions prior to Sunday. After replying to Harry Porter author J.K. Rowling about how massive currency issuance by govt central banks is making bitcoin internet money look solid by comparison, the Tesla CEO confirmed in May that he still only owns 0.25 bitcoins. He explained in February last year noting that he did not have any other crypto holdings, the small amount of BTC Musk owns was given to him several years ago by a friend.
Winding Up The Discussion With More Wise Words
Finally, he is now addressing the rising number of scams that are leveraging bitcoin and other cryptocurrencies in February. Raking in millions of dollars, many of them used his name to promote their bitcoin giveaway schemes. The crypto scam level thereafter on Twitter now reaches new levels which are not cool was what the concerned Musk tweeted. As it happens that on Twitter asking if she should buy bitcoin with “ Toss a bitcoin to your Witcher,” in November it was he responding to Game of Thrones actress Maisie Williams.
Such as deserving a Nobel prize in delayed gratification, is whoever owns the early BTC, Musk also tweeted about cryptocurrency several times last year last. Over the years besides bitcoin, the Tesla CEO has also tweeted about dogecoin a number of times. His Twitter profile still displays that Former CEO of Dogecoin, to this day.