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Tesla: Tesla’s Elon Musk asks about converting ‘Huge transactions’ to bitcoin

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Elon Musk on Sunday asked about the likelihood of converting “large transactions” of Tesla Inc’s record into bitcoin. Musk is a large advocate of the digital currency.

Elon Musk on Sunday asked about the likelihood of converting “large transactions” of Tesla Inc’s record into bitcoin. This is consistent with a Twitter exchange between Musk and a widely known advocate for the digital currency.

Michael Saylor’s comments

Michael Saylor, chief officer of MicroStrategy Inc. During a tweet to Musk, suggested that the billionaire Tesla founder and head, make the move.

“If you would like to try to to your shareholders a $100 billion favor. Convert the $TSLA record from USD to #BTC,” Saylor wrote in his tweet. “Other firms on the S&P 500 would follow your lead & in time it’d grow to become a $1 trillion favor.”

“Are such large transactions even possible?” Musk replied to Saylor.

“Yes. I’ve got purchased over $1.3 billion in #BTC in past months & would be happy to share my playbook with you offline….,” Saylor tweeted.

No one could reach Tesla or Musk for comment. He has not left a comment.

“Every CEO faces the challenge of the way to preserve & enhance shareholder value within the face of this year’s unprecedented monetary expansion,” Saylor said in a message to Reuters.

“Bitcoin is the best solution to the store valuable problem faced by every individual, investor, & corporation on earth,” Saylor said.

Shares of Tesla rose to a record high on Friday during a frantic day of trading as investors set for the electrical carmaker’s much anticipated entrance into the benchmark S&P 500 index on Monday.

Bitcoin rose to a high of $24,299.75 on Sunday, after passing the $20,000 milestone for the first time last week, amid surging interest from larger investors. Bitcoin was last at $23,60.98 up 2.88%.

 

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