CryptoPotato
CryptoPotato
  • Crypto News
  • Margin Trading
  • Guides
    • Bitcoin & Crypto Guides 101
    • Bitcoin For Beginners
    • Editorials
  • Fund
  • Buy
  • Language
  • Crypto News
  • Bitcoin For Beginners
  • Cryptocurrency Guides 101
  • Editorials
  • Bitcoin & Crypto Margin Trading
  • Bitcoin Price Analysis
  • CryptoPotato Crypto Fund
  • Ethereum (ETH) Price Analysis
  • Ripple (XRP) Price Analysis
  • Market Updates
  • Interviews
  • Buy Bitcoin with Card
  • bitcoin
    BTC$35,830.00
  • ethereum
    ETH$1,222.71
    • Market Updates
    • BTC Analysis
    • ETH Analysis
    • XRP Analysis
    • Interviews
    Home » Crypto News » Speculations Run Rampant as Elon Musk Asks Michael Saylor About Bitcoin

    Speculations Run Rampant as Elon Musk Asks Michael Saylor About Bitcoin

    Author: George Georgiev

    Last Updated Dec 20, 2020 @ 17:51

    Elon Musk’s most recent tweets on Bitcoin and crypto have unleashed a wave of comments and speculations as Michael Saylor clarifies that large BTC transfers are, indeed, possible.

    Elon Musk, the CEO of two of the most discussed companies in the past years, SpaceX and Tesla, is doing rounds with the cryptocurrency community today.

    Earlier today, the high-ranked executive and multi-billionaire said that Bitcoin is his safe word in a context that not a lot of people understand. Nevertheless, what followed was a heated discussion and plenty of speculations 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 it to his official Twitter profile to share a few lines on the leading cryptocurrency, including a controversial meme.

    Elon_Michael

    Needless to say, the tweets received tremendous engagement as tens of thousands of people commented, liked, and retweeted the content.

    Under one specific tweet, however, responding was Michael Saylor, the CEO of MicroStrategy – a NASDAQ-listed company that made headlines after it converted is cash balances to BTC a few months back.

    “If you want to do your shareholders a $100 billion favor, convert the TSLA balance sheet from USD to BTC. Other firms on the S&P 500 would follow your lead & in time it would grow to become a $1 trillion favor.” – Saylor told Musk.

    Аs speculative as this might be, Musk replied, asking if such large transactions are even possible. Saylor told him that they are, explaining how he purchased over $1.3 billion in BTC in the past few months, offering his helping hand.

    Now, this is where the conversation ends. However, in a recent interview, Saylor shared another opinion on Tesla and other major companies in regard to Bitcoin.

    “If Tesla puts $1 billion dollars (in BTC) they will double their money within 12 months. If they put $2 billion in, they will probably generate a $10-billion gain. By the way, anybody 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 say you did it.”

    Let The Comments Flow

    All it took from Musk was a few tweets to unleash the figurative “Kraken” of crypto Twitter. Thousands of replies, most of which trying to convince him of Bitcoin’s merits swamped the tweets.

    Eager to give his two cents, Peter Schiff also joined the party. To no one’s surprise, he called Bitcoin a pyramid scheme, essentially saying that Michael Saylor is a conman.

    “Elon, don’t fall for this con. Michael, like all involved in the Bitcoin pyramid scheme, must recruit new buyers in the scheme to keep it going. Do leave Tesla shareholders holding the same bag as Microstrategy shareholders.”

    Plenty of other influential members of the community weighed in, while it appeared that Musk is here for the memes. In fact, that’s what he actually said.

    Come for the comments,
    stay for the memes💄

    — Elon Musk (@elonmusk) December 20, 2020

    As for whether or not Tesla will jump on the Bitcoin bandwagon, it seems particularly far-fetched as of now, if Musk’s view on BTC is any indicator.

    After all, he did also say that “Bitcoin is almost as bs as fiat money.” Was he joking? Time will tell.

    Featured image courtesy of The Business Journal; The CEO Magazine.

    Enjoy reading? Please share:
    Facebook Twitter LinkedIn Telegram
    SPECIAL OFFER (Sponsored)
    Binance Futures 50 USDT FREE Voucher: Use this link to register & get 10% off fees and 50 USDT when trading 500 USDT (limited offer).

    PrimeXBT Special Offer: Use this link to register & enter CRYPTOPOTATO35 code to get 35% free bonus on any deposit up to 1 BTC.

    You Might Also Like:

    • elon_musk-min
      Elon Musk Tweets About Bitcoin: A Closure To Another Tweet From January?
    • MicroStrategy Wants to Offer $400 Million in Convertible Notes to Buy More Bitcoin
    • BitcoinEthereumSquarePayPal
      PayPal and Square Are Buying Every New Mined Bitcoin... And More
    Read more on: Bitcoin

    About The Author

    George Georgiev View more posts by this author

    Georgi Georgiev is CryptoPotato's editor-in-chief and a seasoned writer with over two years of experience writing about blockchain and cryptocurrencies. Georgi's passion for Bitcoin and cryptocurrencies bloomed in late 2016 and he hasn't looked back since. Crypto’s technological and economic implications are what interest him most, and he has one eye turned to the market whenever he’s not sleeping. Contact George: LinkedIn

  • bitcoin
    BTC$35,830.00
  • ethereum
    ETH$1,222.71
  • Join Our Community

    FacebookTwitter YouTubeTelegram


    ADVERTISEMENT
    binance
    Bitcoin Editorials
    Ethereum 2.0 Staking on Exchange vs. Creating Your Node: What You Need to Know

    Ethereum 2.0 Staking on Exchange vs. Creating Your Node: What You Need to Know

    5 Possible Reasons For Bitcoin’s Price Surge Over $30,000

    5 Possible Reasons For Bitcoin’s Price Surge Over $30,000

    2020 Year In Review: Bitcoin’s Journey From $3800 To Nearly $30K

    2020 Year In Review: Bitcoin’s Journey From $3800 To Nearly $30K

    6 Reasons For The Ongoing Bitcoin Bull-Run Beyond $20K

    6 Reasons For The Ongoing Bitcoin Bull-Run Beyond $20K

    Is Blockchain The Answer To COVID-19 Led Misinformation and Rumor Mongering?

    Is Blockchain The Answer To COVID-19 Led Misinformation and Rumor Mongering?

    Join Our Newsletter
    Become a CryptoPotato VIP
    One Weekly Email Can Change Your Crypto Life.
    Sign-up FREE to receive our extended weekly market update and coin analysis report
    We NEVER send spam. You can unsubscribe at any time.
    Invalid email address
    Thanks for subscribing!
    About
    Advertise on CryptoPotato
    About Us | Contact Us

    Terms of service | Privacy Policy | GDPR
    More Sections
    IEO List | Evaluations
    Airdrops
    Scholarship
    Cannabis Stocks News | Market Analysis
    Disclaimer
    Disclaimer: Information found on CryptoPotato is those of writers quoted. It does not represent the opinions of CryptoPotato on whether to buy, sell, or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk. Full disclaimer
    © Copyright CryptoPotato 2016 - 2021
    Scroll to top
    One Weekly Email Can Change Your Crypto Life.

    Sign-up FREE to receive our extended weekly market update and coin analysis report

    We never send SPAM. You can unsubscribe at any moment
    Invalid email address
    Thanks for subscribing!