Commodity Blog

Commodity news, technical and fundamental analysis, market data on precious metals, energies, industrial metals, and soft commodities

Archives

Michael Saylor Persuades Elon Musk to Invest in Bitcoin

December 21, 2020 at 9:50 by Mark Stevenson

The founder of Tesla and SpaceX, Elon Musk asked Michael Saylor, CEO of MicroStrategy if it is possible to convert large Tesla transactions to bitcoins. This became known from a series of tweets in which two businessmen discuss the benefits of the flagship cryptocurrency.

According to Saylor, by converting Tesla’s balance into Bitcoin, Musk will not only push the crypto market to new highs but also make a profit.

Immediately after Michael Saylor’s message, Roger Ver and Peter Schiff also joined the discussion. Ver first gave a link to an interview with Saylor, where he shares his philosophy of investing in Bitcoin, and did an advertisement for the Bitcoin Cash he promotes.

On the other hand, Schiff, who is an ardent opponent of Bitcoin, asked Musk not to “succumb to provocations.”

Elon, don’t get fooled by fraud. Michael, like everyone involved in the Bitcoin pyramid, must attract new buyers to the scheme in order for it to continue working. Don’t drive Tesla shareholders into the trap that Mircrostrategy shareholders have fallen into.

Binance CEO Changpeng Zhao (CZ) suggested that Musk would eventually buy Bitcoin. CZ is sure that sooner or later this will happen.

However, Elon Musk has not yet made a decision on investing in Bitcoin, but the rapid growth of BTC price motivates billionaires from all over the world to look closely at a new investment asset. According to the Wells Fargo Investment Institute, since the beginning of the year, the price of one bitcoin has increased by more than 200%, and in comparison with 2019, the value of the crypto coin has increased by 90%.

It is worthy of note that on Saturday, December 19, Bitcoin set a new all-time high (ATH), breaking through the level of $24,000. On Bitstamp exchange, the price rose above $24,200 at 20:42 GMT on December 20 before a downward correction.

The rise in the value of Bitcoin has led several famous billionaires to invest in Bitcoin. For example, Mexican businessman Ricardo Salinas Pliego, founder, and president of the Salinas group said that he invested most of his liquid assets in bitcoins. Also investing in Bitcoin are Paul Tudor Jones, Robert Kiyosaki, author of the bestselling Rich Dad Poor Dad, investment celebrity Jim Kramer and other businessmen.

If you have any questions and comments on Bitcoin today, use the form below to reply.

Leave a Reply

required
required  

Navigation

Menu