Tesla Corporation (Nasdaq: TSLACEO Elon Musk could give its shareholders a $ 100 billion favor by turning the carmaker’s balance sheet into Bitcoin, for him MicroStrategy Corporation (Nasdaq: MSTRThe counter suggested Michael Saylor.
what happened: Saylor made his comments in response to Mask Looking for fun In the main cryptocurrency on Sunday.
If you want to provide a $ 100 billion service to your shareholders, transfer TSLA Dollars Balance sheet from USD to #BTC. The other companies in the S&P 500 will follow in your footsteps and in time it will grow into a $ 1 trillion service.
– Michael Saylor (@michael_saylor) December 20, 2020
“Are such large transactions possible?” musk Sounding.
at ResponseSaylor offered to share his “playbook” with the CEO of Tesla, saying that he had bought more than $ 1.3 billion in Bitcoin over the past few months. The only caveat? Saylor will only share these secrets offline.
why does it matter: Coinbase, which has applied for IPO this month, Facilitated the $ 425 billion Bitcoin purchase of Microstrategy earlier this year.
Virginia-based MicroStrategy was filed $ 550 million in debt To finance purchases in December. A Citi analyst subsequently downgraded the company, calling Saylor’s focus on Bitcoin “disproportionate.”
Coinbase CEO Brian Armstrong said on Twitter late Sunday that if any company wanted to keep cryptocurrency on its balance sheet, Coinbase could help.
More and more companies appear to be keeping cryptocurrencies on their balance sheet, as a hedge against inflation. We can help https://t.co/KWYOemrDMO
– Brian Armstrong (@brian_armstrong) December 21, 2020
Musk has been less enthusiastic about Bitcoin, despite the cryptocurrency soaring above the $ 23,000 mark this month. The billionaire businessman caused a 20% increase in the prank cryptocurrency Dogecoin earlier Sunday with a tweet.
Price movement: Tesla shares closed nearly 6% higher at $ 695 on Friday and down roughly 2.6% in the after-hours session to $ 677. On the same day, MicroStrategy shares closed nearly 1.1% higher at $ 301.20. Bitcoin was trading up 0.76% at $ 23,680.81 at the time of writing.
Image courtesy of Forbes via Wikimedia
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