MicroStrategy’s Michael Saylor Wants Elon Musk To Buy More Bitcoin ⋆ ZyCrypto

Michael Saylor is relentless in his promotion of Bitcoin. The 57-year-old co-founder of business intelligence firm MicroStrategy remains one of the most prominent Bitcoin maximalists. Recently, Saylor advised billionaire Elon Musk to buy more BTC like the latter [jokingly] hinted at buying a football club.

On Twitter, electric motor vehicle founder and CEO Elon Musk hinted at buying English soccer club Manchester United. “In addition, I welcome Manchester United,” he said. The tweet caught the attention of many fans and mainstream media. This is largely due to the fact that fans of the club are not satisfied with the decisions of the current owners.

Asked if he was serious, Musk noted that it was a joke and had no intention of buying a sports team. Nevertheless, he said that if he wanted to buy a football club, it would be Manchester United. This hasn’t stopped people from commenting on the comment, Michael Saylor being one of those.

“We’d prefer you buy some more Bitcoin,” Saylor said in response to Musk. Saylor’s comment comes barely two months after his business intelligence firm revealed it had bought more BTC. Michael Saylor has made it a habit to support BTC every chance he gets, especially on Twitter.

Tesla dumped 75% of its BTC holdings

On the other hand, Musk is not much of a Bitcoin maximalist. While the American billionaire has not primarily expressed antagonism towards BTC, his focus has previously been on Dogecoin. Nevertheless, Musk’s electric vehicle company, Tesla, had shown a huge interest in BTC.

Last February, Tesla revealed that it had added $1.5 billion worth of BTC to its balance sheet. The firm further noted that it plans to start accepting Bitcoin as a payment method. Tesla went on to systematically dump 75% of its BTC holdings, as it revealed in its Q2 2022 earnings report.

Musk noted that the sale was not due to BTC’s price performance, but was a measure to improve the cash flow situation. In contrast, Saylor’s MicroStrategy bought more BTC during the crypto winter.

Two months back, MicroStrategy revealed that it had bought 480 more BTC from May 3rd to June 28th. The firm now has 129,699 BTC valued at $3B at current rates. This makes MicroStrategy the principal institutional owner of the asset.