The steep rally, once again, is attracting the attention of investors from all classes, including Elon Musk, who asked early Sunday about the potential for diverting “big transactions” from Tesla’s TSLA
Balance sheet in cryptocurrency.
It all started when Musk tweeted A provocative meme On Bitcoin’s attractiveness. With comments, likes and tweets piling up, Michael Saylor, CEO of Microstrategy MSTR,
And a big bitcoin fan, joined the discussion with an idea that caught Musk’s eye.
“If you want to provide a $ 100 billion service to your shareholders, convert TSLA’s US dollar balance sheet from US dollars to # BTC,” said Saylor. Other companies on the S&P 500 SPX,
You will follow your progress and in time it will grow into a $ 1 trillion service. ”
Musk then responded by asking whether “such large transactions are possible?” Saylor was one of many Bitcoin backers who assured him that they were.
“I’ve bought over $ 1.3 billion in #BTC in the past months and I’ll be happy to share my playbook with you offline – from rocket scientist to the next,” said Saylor. Last week, he spoke in more detail about the idea of companies taking a step to convert their cash piles into Bitcoin:
While bitcoin fans loved to debate, there were plenty of others, including Euro Pacific Capital CEO Peter Schiff, who dismissed it as a joke:
Meanwhile, Bitcoin continues to advance deeper into uncharted territory, breaking the $ 24,000 barrier for the first time on Sunday.