Michael Saylor, the CEO who placed a $ 425 million bet on Bitcoin earlier this year, offers to advise Elon Musk on how to invest in cryptocurrencies.
According to a tweet posted today Saylor suggested Musk is converting Tesla’s balance sheet into Bitcoin (BTC), a company with a market capitalization currently exceeding $ 658 billionaccording to AssetDash. MicroStrategy CEO hinted that a number like Musk taking the lead in introducing Bitcoin could lead to “other companies in the SP 500” following suit.
Saylor is offered then to “share your book of tactics” with the CEO of Tesla “from one rocket scientist to another”, He said he bought Bitcoin for $ 1.3 billion that year. The MicroStrategy CEO has two degrees from MIT in Aerospace and Science, Technology and Society.
Musk, the CEO of Tesla and SpaceX, has an estimated net worth of more than $ 153 billion but not until February 2019 I had personal 0.25 BTC. On the other hand, Saylor, whose net worth is 300 times less – about $ 500 million by some estimates. prompted business intelligence company MicroStrategy to make one of the largest investments by a major financial institution in Bitcoin this year. The CEO more than doubled the value of his first $ 425 million purchase of BTC this year, after the crypto asset recently rose to $ 24,000.
Other crypto pundits were quick to answer Musk’s question about the possibility of making such a large crypto purchase.
Sam Bankman-Fried, CEO of Hong Kong-based cryptocurrency derivatives exchange FTX, she said to the billionaire who could carry out such a plan “within a week”. Gemini co-founder, Tyler Winklevoss, also entered the conversation, consultation to Musk that there was “a lot of liquidity to do”.
However, the famous “golden beetle” Peter Schiff went against the possible investment, reference to Bitcoin as a pyramid scheme and Musk advise that “[no] Let Tesla shareholders carry the same bag as MicroStrategy shareholders. “.
Saylor has been outspoken about Bitcoin since announcing that MicroStrategy first bought bitcoin in August as a reserve asset of $ 250 million. He has commented that tech companies like Apple could achieve a market cap of $ 100 billion by integrating Bitcoin with Apple Pay, building a secure cryptocurrency wallet on iPhone, and buying crypto assets using the tech giant’s Treasury Reserves..
“”Big Tech (big tech companies) need to integrate their products with Bitcoin to stay competitive“, said Saylor on Friday. “All companies need to convert their funds into BTC to stay liquid.”
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