Listen here, Elon Musk: Michael Saylor, CEO of MicroStrategy, has some advice. Saylor has bought $1.3 billion in Bitcoin in the past few months, he claims on Twitter, and he's willing to share his tips with you, the self-titled Lord Edge.
MicroStrategy bought hundreds of millions in Bitcoin—$500 million since August, and plans to buy another $650 million more with investors' money.
Since Saylor invested, Bitcoin has more than doubled in price; yesterday, it hit a new all-time high of $24,000. Many attribute the bull run to investments from large institutions, such as MicroStrategy.
Saylor told Musk, the CEO of Tesla and SpaceX, that he is "happy to share my playbook with you offline—from one rocket scientist for another." Send him a message, Musk, and he'll open like a clam.
"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 & in time it would grow to become a $1 trillion favor," tweeted Saylor today in response to Musk, who had tweeted a meme that suggested he is distracted by Bitcoin.
Bitcoin's price rose following the tweet, from $23,548 to $23,839.
In a huff, Musk said that "Bitcoin is almost as bs as fiat money" before proclaiming the One True Coin: Dogecoin. Musk, whose Twitter profile cites him as "Former CEO of Dogecoin," pumped the price of the meme coin after he tweeted about it six hours ago.
The views and opinions expressed by the author are for informational purposes only and do not constitute financial, investment, or other advice.
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