In a tweet exchange that occurred on Twitter, Tesla CEO Elon Musk, in a bid to understand BTC, has required a little bit of advice and help from Microstrategy CEO Micheal Saylor. The Billionaire, Musk, is in the news again as it appears that his attitude towards crypto has shifted into a more positive approach. In the tweet exchange, Musk questioned Saylor whether it is possible to transform much of the finances held by Tesla into Bitcoin.
Musk’s interest is swayed by other investors in Bitcoin
Musk has never been a firm admirer of crypto assets, especially Bitcoin. The Billionaire has always felt that the volatile and unstable nature of the digital asset poses it as a means of investors’ losses. However, in a twist of fate, Musk, the critic, appears to have been tempted by the recent trend of institutional players who have gotten their fingers on bitcoin.
He has now committed to the cryptocurrency. New institutional players like Square, Stone Ridge, and even Microstrategy – the one whose CEO, Micheal Saylor, is the one Musk has gone to for advice on his new interest and investment in Bitcoin. Saylor is the right person to guide Musk in his new pursuit of BTC, as the CEO himself is a firm admirer of the digital asset and has multiple investments in it.
Saylor advises Musk to put the interest of his Shareholders at heart
On the Twitter exchange that occurred earlier in the week, Saylor responding to a tweet by Musk, told the Tesla and SpaceX CEO that he was on the right track, as he advised him to do his shareholders a favor by committing $100billion to Bitcoin.
Saylor believes it will take no time for other S&P 500 firms to follow suit, and then Musk can reap his rewards in $1trilion. Musk then responded to Saylor’s words by asking if “such large transactions were even possible.” Saylor then issued an affirmative response, claiming that the Bitcoin network is so large and anything can happen in it.
Saylor is the right person to assist Musk
Bitcoin has had a very good run of price in the last few weeks, especially as it broke two price records this year already. Therefore, it has attracted so many investments and admirers this year, with Saylor and his company Microstrategy being investors in the cryptocurrency. Microstrategy, a company headed by Saylor, has committed over a billion dollars investment in Bitcoin this year alone in four tranches. So Saylor, an avid fan and admirer, will likely be the go-to guy for Musk.
Musk new stance
The Billionaire’s renewed interest in BTC is strange despite being a heavy critic of the digital assets. In a negative tweet some weeks ago by Musk, he claimed that bitcoin was as “bs as fiat currencies.” This put many analysts and traders on edge, making them wonder where Musk stood in the long run, considering he’s been quite kind to cryptocurrencies – particularly Dogecoin and bitcoin – in the last few weeks.