Bitcoin has increased to a very great extent which has led to a new all-time high. Due to this increase, there have been several discussions in the community, particularly between Michael Saylor, CEO of MicroStrategy, and Elon Musk, CEO of Tesla and SpaceX. Saylor advises Musk that he should convert his $TSLA balance sheet from USD to #BTC. He gave this suggestion as Bitcoin has hit $24,000, which is a new all-time high in the market.
Saylor Advises Musk and Planning to Buy $650M Worth Bitcoin
It is revealed that Michael Saylor has already invested $1.3 billion in Bitcoin and now he is planning to invest further. He reveals that as Bitcoin surges to a new all-time high, he will be investing another $650 million in Bitcoin and the investment will be from the investors’ money. Ever since he invested in Bitcoin, the price has increased more than double, breaking all the records. As Saylor advises Elon Musk, he says that he is happy to share his playbook with him. As Bitcoin hits a new all-time high, a lot of people believe that this is because of several huge investments from large institutional investors. MicroStrategy also counted among those large institutional investors who have invested in Bitcoin in the past few months.
Musk Distracted by Bitcoin
The reason why Saylor advises Musk over Bitcoin because he recently tweeted that he is distracted by Bitcoin. The distraction is due to the recent surge in its price to a new all-time high. Saylor said:
“If you want to do your shareholders a $100 billion favour, convert the $TSLA balance sheet from USD to #BTC. Other firms on the S&P 500 would follow your lead & in time it would grow to become a $1 trillion favour.”
Ever since this Twitter discussion, the Bitcoin price has increased from $23,548 to $23,839. This is also indicating that all the bullish predictions of Bitcoin are becoming true as price increases to a new all-time high.