Michael Saylor, Elon Musk’s Bitcoin 2020 Discussion Flashback: Details
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Cover image via www.youtube.com Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available. A conversation on X (formerly Twitter) between Tesla CEO Elon Musk and MicroStrategy Chairman Michael Saylor has resurfaced four years later. Bitcoin historian Pete Rizzo brought attention to the Bitcoin-related chat in a recent tweet. In the discussion, which dates back to Dec. 20, 2020, Saylor urged Elon Musk to consider a bold move for Tesla with respect to Bitcoin. Saylor suggested that Musk could do Tesla shareholders a $100 billion favor by converting the USD on Tesla’s balance sheet to Bitcoin (BTC). Saylor predicted that such a move would not only benefit Tesla but also set a precedent for other S&P 500 companies to follow, potentially turning this $100 billion favor into a $1 trillion impact. “If you want to do your shareholders a $100 billion favor, convert the TSLA balance sheet from USD to BTC. Other firms on the S&P 500 would follow your lead, and in time, it would grow to become a $1 trillion favor,” Saylor said. This, Musk replied, asking, “Are such large transactions even possible?” Related This conversation highlighted what would later become a defining move for Bitcoin corporate adoption. Rizzo indicated that currently Tesla and Microstrategy own 450,000 BTC worth over $45 billion. MicroStrategy and Tesla Bitcoin evolution MicroStrategy started out selling enterprise software, but it has since evolved into…
