MicroStrategy’s Michael Saylor Wants Elon Musk to Buy More Bitcoin –
Michael Saylor doesn’t give in to Bitcoin in that frame of mind. The 57-year-old benefactor of business intelligence firm MicroStrategy remains one of the most conspicuous Bitcoin maximalists. Recently, Saylor encouraged the rich person Elon Musk to buy more BTC as the last one [jokingly] indicated the purchase of a football club.
Michael Saylor argues that Musk should buy more BTC instead of a football team.
On Twitter, electric vehicle founder and CEO Elon Musk hinted at buying English soccer club Manchester United. “Similarly, I welcome Manchester United,” he said. The tweet caught the eye of loads of fans and established press. This is largely due to the way supporters of the club are not happy with the choices of the current owners.
When asked if he wasn’t kidding, Musk noted that it was a joke and in no way wanted to buy a gaming group. Regardless, he said it would be Manchester United to buy a football club. This has not stopped individuals from commenting on the remark, Michael Saylor being one such.
“We’d rather you get a little more Bitcoin,” Saylor said in response to Musk. Saylor’s remarks come barely two months after his business intelligence firm revealed it had bought more BTC. Michael Saylor has regularly made it a practice to sign BTC every chance he gets, especially on Twitter.
Tesla unloaded 75% of its BTC holdings
Then again, Musk isn’t so much a Bitcoin maximalist. While the American very rich individual has not initially communicated animosity towards BTC, his concentration has previously been on Dogecoin. Musk’s electric car organization, Tesla, had shown a gigantic interest in BTC anyway.
Last February, Tesla revealed that it had added $1.5 billion worth of BTC to its cash records. The firm also noted that it intends to begin tolerating Bitcoin as an installment strategy. Tesla went on to deliberately dump 75% of its BTC holdings, as it revealed in its Q2 2022 earnings statement.
Musk noted that the sale was not due to BTC’s cost exposure, but rather was a means to further develop revenue ratios. Interestingly, 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 currently has 129,699 BTC estimated at $3B against the overall price. This makes MicroStrategy the main institutional holder of the resource.
Andrew is a blockchain developer who developed his interest in cryptocurrencies while graduating. A keen observer of detail, he shares his passion for writing alongside being a developer. His backend knowledge of blockchain helps him bring a unique perspective to his writing
