Bitcoin

Michael Saylor reignites Bitcoin rumors surrounding Elon Musk

  • In an interview, Michael Saylor has reignited the Bitcoin rumors surrounding Tesla founder Elon Musk. 
  • Saylor has allegedly talked about a Bitcoin investment with Musk. 

Michael Saylor, the CEO of MicroStrategy and arguably the biggest Bitcoin bull at the moment with his multi-billion dollar bet on Bitcoin, again fueled speculation around an investment from Tesla and SpaceX founder Elon Musk in an interview just before Christmas. In a piece for CNBC, Saylor talked about his bitcoin strategy and recommended that companies including Apple, Tesla and Amazon, which are sitting on “huge mountains of cash,” invest in Bitcoin.

Saylor said Bitcoin is “not as volatile as it used to be,” calling it the world’s “first constructed safe haven investment.” However, for the crypto community, Saylor’s hints about Elon Musk may have been even more interesting. Just last week, Saylor offered via Twitter to advise the Tesla founder on how to invest millions in the crypto market.

In the interview, the CEO of MicroStrategy now revealed that he cannot reveal any details about the conversations he had with Tesla CEO Elon Musk. Nevertheless, he did not miss the opportunity to provide the following statement about his conversations with Elon Musk:

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.

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.

Saylor encourages Elon Musk to buy Bitcoin

On Dec. 20, the two CEOs had a conversation via Twitter that began with Saylor provocatively asking Musk to invest in Bitcoin as a favor to his shareholders. Saylor tweeted:



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.

In addition, Saylor offered to share “his playbook” with the Tesla CEO, “from one rocket scientist to another,” and stated that he had purchased $1.3 billion in Bitcoin this year. Subsequently, Musk expressed his supposed interest and responded:

Are such large transactions even possible?

On the same day, Musk also wrote that Bitcoin is his “safe word.”

On Dec. 20, however, Musk also wrote, “Bitcoin is almost as bs as fiat money” and proclaimed that the “only true coin” is Dogecoin. Within the crypto community, however, this tweet was taken as fun and ironic.

As is known, Musk has an estimated net worth of more than $153 billion, and, as he publicly stated in February 2019, owns only 0.25 BTC. An investment by Musk in Bitcoin could mean a new level of Bitcoin adoption.

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