We all know that Elon Musk, CEO of Tesla and Space X possesses such gravity that he’s able to spin the internet world in frenzy with just a few words. A few days ago, something similar happened when he tweeted a couple of times about cryptocurrencies, putting all current and potential crypto holders on alert.

Musk has a history of tweeting jokingly about Bitcoin and poking some fun at cryptocurrency owners. Not so long ago, in a conversation with the famed author J.K. Rowling, Tesla’s CEO remarked that he owns only 0.25 Bitcoin. The latest episode started as one of Musk’s followers tweeted out a picture of a woman in Tesla-branded shortstop which the billionaire responded with: “Bitcoin is my safe word.”

What Is Space X & Tesla’s CEO Elon Musks Message For Bitcoin HODL?

This, seemingly frivolous, tweet sparked a further conversation between Musk and some of his followers that had some real-world financial implications. The world’s most famous troller continued by tweeting “Bitcoin is almost as bs as fiat money” followed by the not-safe-for-work picture illustrating the appeal of Bitcoin.

This, in turn, provoked a response from many of his followers, most notably Michael Saylor, the CEO of business intelligence company MicroStrategy Inc. Saylor is one of the leading proponents of cryptocurrencies and his company has invested over $1.3 billion in Bitcoin in recent months.

The company had a nearly $500 million bet on Bitcoin over the summer which has more than doubled in value since then.

In a tweet, Saylor suggested that Musk should do Tesla’s shareholders a $500 billion favor and convert a part of the company’s balance sheet into Bitcoin which would make other S&P 500 companies follow his example and eventually turn the worth of the favor into $1 trillion. Musk replied by asking if such large transactions are even possible to which Saylor answered that he would be more than happy to share his playbook with him.

Of course, Elon Musk knows that such a transaction is relatively easy and his tweet was somewhat disingenuous and could be seen as a part of his trolling strategy, particularly considering his previous view on Bitcoin.

He’s perfectly aware that every word he says and moves he makes, due to the army of faithful followers, have the power to make tectonic movements in the market. To this point, he previously half-jokingly declared himself as the CEO of Dogecoin and propped up this cryptocurrency.

Created on a basis of an internet meme and mostly as a joke, Dogecoin’s only value is in its novelty as it is designed, unlike Bitcoin, to be extremely inflationary, churning out 10.000 coins every couple of minutes. Still, after Musk’s tweets, Dogecoin saw its price surge rapidly by over 40%, from $0.003 to $0.005. It seems that Musk enjoys this kind of half-serious trolling, confirmed by pinning the “come for the comments, stay for the memes” at the top of his timeline.

On a more serious note, Anthony Pompliano, the founder and partner at Morgan Creek Digital, a crypto-based hedge fund, commented that any action from Musk like converting a part of Tesla’s balance sheet into Bitcoin would certainly send shock waves all over the internet and have a significant influence on the price of the world’s most popular cryptocurrency.

• Source: Tesla chief Elon Musk has some fun with Bitcoiners from Seekingalpha.com On December 20, 2020.

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What Is Space X & Tesla’s CEO Elon Musks Message For Bitcoin HODL?

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We all know that Elon Musk, CEO of Tesla and Space X possesses such gravity that he's able to spin the internet world in frenzy with just a few words. A few days ago, something similar happened when he tweeted a couple of times about cryptocurrencies.

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Vladimir

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ArmyOfBitcoin.com

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