Elon Musk sparks speculation to invest in buying Bitcoin (BTC)

Elon Musk voices his true thoughts on cryptocurrencie

Tesla founder and Chief Executive Officer Elon Musk asked a question on Twitter, speculating he could be interested in Bitcoin investment. During a twitter exchange between Mus and a popular cryptocurrency enthusiast, the billionaire asked whether it’s possible to convert “large transactions” on Tesla’s balance sheet to Bitcoin (BTC).

In a tweet to Musk, Chief Executive Officer of MicroStrategy Michael Saylor suggested to Musk that he should make the move to invest in Bitcoin.

Saylor said Musk should include Bitcoin in Tesla’s balance sheet if he wants to do his shareholders a $100 billion further.

Other firms on the S&P 500 would follow your lead & in time it would grow to become a $1 trillion favor,” he added.

Musk replied Saylor’s tweet, saying, “Are such large transactions even possible?”

Saylor’s MicroStrategy is a business intelligence firm that has gained increased popularity in recent months after the company bought over $1 billion worth of Bitcoins.

The company became the first billion-dollar publicly listed company to have Bitcoin in its balance sheet.

Saylor offers to help Musk

Saylor also said he will assist Musk with his playbook to explain the process of buying the quantity of Bitcoin he wants to buy. Normally, that number of Bitcoin could move the price of Bitcoin in exchanges, but Saylor said he would help Musk get the legal clarity and prevent any such price movement.

After the conversation with Saylor, Musk did not reply whether he wants to invest. But speculation is rift across the cryptocurrency community that another big player outside the crytocurrency sector is about investing in the industry.

Although Tesla has always been in the news, the Bitcoin-linked news was far more pronounced, with the crypto community eagerly anticipating his entry into the Bitcoin world.

Speculation could pump Bitcoin price

The Tweeter exchange between Musk and Saylor could possibly increase the price of Bitcoin, according to analysts. On Sunday, the top cryptocurrency closed with $23,476. But today, it’s trading at $23,930, as speculation about Musk’s entry into the market still fills the air.

The post Elon Musk sparks speculation to invest in buying Bitcoin (BTC) appeared first on Invezz.

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