Bitcoin BTCUSD,
A fierce rally, once again, is drawing the attention of investors of all kinds, including Elon Musk, who early Sunday asked about the possibility of converting “large transactions” from Tesla’s TSLA,
balance in the cryptocurrency.
It all started when Musk tweeted a provocative meme about the appeal of bitcoin. As comments, likes and retweets piled up, Michael Saylor, executive director of Microstrategy MSTR,
and a big Bitcoin fan, he joined the discussion with an idea that caught Musk’s attention.
“If you want to get a $ 100 billion favor to your shareholders, convert the $ TSLA balance from USD to #BTC,” Saylor said. “Other S&P 500 SPX companies,
it would follow your example and eventually grow to a $ 1 trillion favor. ”
Then Musk responded by asking if “even such large transactions are possible?” Saylor was just one of several bitcoin sponsors who assured him they are.
“I’ve bought over $ 1.3 billion at #BTC in recent months and would love to share my game book with you offline, from one rocket scientist to another,” Saylor said. Last week he spoke in more detail about the idea for companies to take the step to convert their cash stacks into bitcoins:
While bitcoin fans loved the discussion, there were many others, including Euro Pacific CEO CEO Peter Schiff, who dismissed it as a joke:
Meanwhile, Bitcoin continues to advance into unfamiliar territory, surpassing $ 24,000 for the first time on Sunday.