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Elon Musk seeks suggestions on transforming Tesla’s balance sheet into Bitcoin

Elon Musk seeks suggestions on transforming Tesla's balance sheet into Bitcoin

Recently, Elon Musk queried about converting large transactions of Tesla’s balance sheet into bitcoin. Surprisingly, the tweets received a great engagement as tens of thousands of people liked, commented, and retweeted them. Following one specific tweet that enticed the response was Michael Saylor, the CEO of MicroStrategy. The company MicroStrategy caught the spotlight after it transformed its cash balances to Bitcoins a few months back. Michael Saylor, the CEO of Nasdaq-listed business intelligence firm MicroStrategy, asked Musk to perform justice to his shareholders with a $100 billion favor by transforming the cash-heavy balance sheet into flagship crypto. 

Big industry giants chatter on Elon Musk’s Twitter series.

However, Musk responded by questioning if such big transactions are even possible. Saylor informed him that they are, revealing how he acquired over $1.3 billion in BTC in the past few months, lending his helping hand. Moreover, Tyler Winklevoss, Gemini’s CEO, also pursued their conversation, insisting that there was “plenty of liquidity” to accomplish that. Further, during a current interview with HyperChange, Saylor revealed that Tesla and other companies should contemplate transferring their dollars into Bitcoin to uphold their spending power.

“Are such large transactions even possible?”

Elon Musk, Twitter

Moreover, Musk received thousands of replies on the chatter. Most of the replies attempted to convince him to hoard the leading cryptocurrency. Peter Schiff also united the conversation. Shockingly, he called Bitcoin a pyramid scheme. He further went on to state that Michael Saylor is a conman. As for whether or not Tesla will hop on the Bitcoin bandwagon, it appears especially far-fetched as of now, if Musk’s view on BTC is any sign.

According to the reports, Musk tweeted that Bitcoin was his “safe word” earlier today. Before dropping his tweet as a joke and advocating that the leading cryptocurrency was quite atrocious as fiat. Regarding the billionaire’s posting of confusing signals about Bitcoin, it is more probable that he will convince the Tesla board to transform its balance sheet into Dogecoin. The meme cryptocurrency surged higher than 20% today after its most influential admirer gave it another shout-out.

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