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.
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.
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.”
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.
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.
