fierce rally is, once more, drawing consideration from traders of all stripes, together with Elon Musk, who early Sunday requested about the potential of changing “giant transactions” of Tesla’s
steadiness sheet into the cryptocurrency.
It began when Musk tweeted a provocative meme in regards to the attract of bitcoin. Because the feedback, likes and retweets piled up, Michael Saylor, chief govt of Microstrategy
and massive bitcoin fan, joined the dialogue with an concept that caught Musk’s eye.
“If you wish to do your shareholders a $100-billion favor, convert the $TSLA steadiness sheet from USD to #BTC,” Saylor mentioned. “Different companies on the S&P 500
would comply with your lead & in time it could develop to develop into a $1-trillion favor.”
Musk then responded by asking if “such giant transactions even doable?” Saylor was simply one in every of a number of bitcoin backers who assured him that they’re.
“I’ve bought over $1.3 billion in #BTC in previous months & can be completely satisfied to share my playbook with you offline — from one rocket scientist to a different,” Saylor mentioned. Final week, he talked in additional element in regards to the concept of companies making the transfer to transform their money piles into bitcoin:
Whereas bitcoin followers had been loving the dialogue, there have been loads of others, together with Euro Pacific Capital CEO Peter Schiff, who dismissed it as a joke:
In the meantime, bitcoin simply retains transferring deeper into uncharted territory, pushing previous the $24,000 mark for the primary time on Sunday.