The MicroStrategy boss offers the Tesla boss to reveal his Bitcoin investment strategy to him.
Michael Saylor, the managing director of the large software manufacturer MicroStrategy, who invested 425 million US dollars in Crypto Engine with his company this year, advises Elon Musk to also rely on cryptocurrency.
Accordingly, Saylor recommended the prominent Tesla boss on Twitter today to convert the company assets of the electric car manufacturer from US dollars into Bitcoin ( BTC )
According to AssetDash, Tesla’s market value is currently a sizable $ 658 billion, even a fraction of which would have a massive impact on the crypto market. Rather, Musk would send a strong signal to „all other companies listed in the S&P 500,“ as Saylor says.
In order to make this step palatable to the Tesla boss, the MicroStrategy boss offered to reveal his „strategy“ to him . „From rocket scientist to rocket scientist,“ as he adds with a wink. In fact, Saylor has a degree in rocket science from the prestigious US university MIT, while Musk is doing rocket science research with his second company, SpaceX.
The personal assets of Musk is estimated at more than 153 billion US dollars, but this was in February 2019 indicated that he nevertheless only 0.25 BTC has. Although Saylor’s private assets are 300 times smaller at USD 500 million, the MicroStrategy CEO seems to be much more willing to take risks when it comes to Bitcoin, because his company has made one of the largest investments in cryptocurrency this year. And this courage seems to be paying off, because the equivalent of the 425 million US dollars that the software manufacturer has invested in Bitcoin is likely to have almost doubled to 24,000 US dollars due to the recent soaring of the cryptocurrency.
When Musk asked, in response to Saylor’s tweets, whether a transaction of this magnitude is even possible with Bitcoin, several voices from the crypto industry spoke up
Sam Bankman-Fried, head of the Hong Kong-based crypto trading platform FTX, replied that Musk could “ liquidate such an investment in the course of a week,“ while Gemini co-founder Tyler Winklevoss argued that there was „sufficient liquidity to make that happen „.
However, gold advocate and Bitcoin critic Peter Schiff warned Musk against investing in the cryptocurrency’s “pyramid scheme”. The Tesla boss should not blacken his shareholders in the same way as MicroStrategy.
Since the software manufacturer initially invested US $ 250 million in Bitcoin in August, Saylor has become a big proponent of Bitcoin. Accordingly , he calculated , for example, that a technology company like Apple could gain more than 100 billion US dollars in market value just by investing in the cryptocurrency.
„The big technology companies have to incorporate Bitcoin into their products in order to remain competitive,“ said Saylor this Friday . He added: „All companies must convert their assets into Bitcoin in order to remain solvent in the future.“