MicroStrategy’s Michael Saylor Addresses Bitcoin Talk With Elon Musk
A few days ago, we were revealing that Elon Musk dropped some pretty intriguing Bitcoin-related posts.
He also shared a meme that drew the attention of MicroStrategy’s CEO, Michael Saylor.
Check out his tweet below.
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.
— Michael Saylor (@michael_saylor) December 20, 2020
Musk then asked about large Bitcoin transactions on Twitter.
After seeing Saylor’s message, Musk hopped back in the comments and asked: “Are such large transactions even possible?”
Saylor responded with: “Yes. I have purchased over $1.3 billion in #BTC in past months & would be happy to share my playbook with you offline – from one rocket scientist to another.”
Saylor addresses talks with Musk
Now, it’s been revealed that in an interview with CNBC, Michael Saylor added fuel to the rumors that Musk may be considering adding BTC to Tesla’s balance sheet.
“I can’t speak about my conversations with [Musk] but what I can say is that Tesla, Apple and Google all have the same problem – they’re sitting on huge piles of cash, and they’re dissipating shareholder wealth at a rate of 15-20% a year times that cash,” he said as cited by the Daily Hodl.
He also said: “They need to turn that from a liability into an asset, and the best way to do it is convert it into Bitcoin because Bitcoin’s going up more than 100% a year. Cash is debasing at 15% a year.”
Not too long ago, Saylor called Bitcoin the “world’s first engineered safe-haven asset” and said that it’s likely to become less volatile over time.
“As the institutions buy Bitcoin, its volatility changes and the characteristics of the asset class are maturing.”
