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The fact that Bitcoin hit a new high over the weekend is possibly also due to Tesla boss Elon Musk.
• Musk asks about Tesla’s balance sheet conversion.
• Economist with words of caution
• BTC with a new record
The billionaire car manager Elon musk It had a remarkable year with its 2020 electric car maker Tesla. Not only was the American company able to survive the corona pandemic largely unscathed and report new records in production and sales figures, but Tesla’s action also had an exceptionally good performance, mostly due to the fact that the company has been in the S&P 500.
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Bitcoin benefits from Musk’s tweet
But not only can Tesla investors celebrate an extraordinarily profitable year thanks to Musk, the crypto community was also able to expect a new record for Bitcoin at the weekend, which was probably also thanks to the head of Tesla.
Because the 49-year-old thought out loud on Twitter if it would be possible to convert Tesla’s company assets from US dollars to Bitcoin. The specific reason for this consideration was a message from Michael Saylor, CEO of software maker Microstrategy, who reached out to Musk on Twitter and suggested:
“If you want to do your shareholders a favor of $ 100 billion, convert Tesla’s balance sheet from dollars to bitcoin. Other companies in the S&P 500 would follow suit.”
If you want to do your shareholders a favor of $ 100 billion, convert the $ TSLA balance from USD to #BTC. Other firms on the S&P 500 would follow suit and eventually grow into a $ 1 trillion favor.
– Michael Saylor (@michael_saylor) December 20, 2020
Elon Musk took up the idea and wanted to know if transactions of this size were feasible. Saylor replied that he himself had bought $ 1.3 billion worth of Bitcoin in recent months and was ready to reveal his investment strategy for BTC to Musk.
Economist warns Musk
Economics expert Peter Schiff also got into the mind game, but was less enthusiastic about the option of converting Tesla’s company assets into BTC. “Elon, don’t fall for this deception. Michael and everyone else in the Pyramid scheme Bitcoin involved must find new buyers to keep the system up and running, “he explained.
Schiff then followed up with a tweet saying Musk was just kidding.
It seems that @Elon Musk I was just joking about exposing Tesla shareholders to Bitcoin. So I don’t need to convince the board not to turn Tesla into a double bubble. But I’m still willing to debate @michael_saylor in #Bitcoin verse #gold. maybe @joerogan is willing to moderate.
– Peter Schiff (@PeterSchiff) December 20, 2020
Musk himself no longer commented on the mind game, but the discussion of the possibility alone helped Bitcoin break past the $ 24,000 mark for the first time in its history. Meanwhile, however, investors have already made a profit.
Editors of Finanzen.ch
Bildquelle: Joe Scarnici / WireImage / Getty Images, Michael Kovac / Kontributor / Getty Images, Larry Busacca / Getty Images for The New York Times, VCG / VCG via Getty Images / Getty Images
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