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Elon Musk should kindly buy more Bitcoin, says Michael Saylor

 


What Elon Musk and Michael Saylor have in common? Both hold Bitcoin - and are very staunch Twitter users. Now Michael Saylor thinks that Musk should buy more Bitcoin.


The numerous tweets and comments by the two Americans Musk and Saylor could be described as a Twitter saga. Now the most well-known Bitcoin proponent Saylor calls on the Tesla billionaire Musk to buy more BTC. His comment follows Musk's joke about wanting to buy football club Manchester United:



The above tweet was preceded by a political statement by Musk, in which he said he supports "the left half of the Republican Party as well as the right half of the Democratic Party."


Did we mention the billionaire likes to joke on Twitter?


After joking about wanting to buy Manchester United (or not?), Saylor chimed in.


With his comment, “we would prefer it if you bought more Bitcoin”, he should clearly allude to the Tesla company.


Bitcoin sales in the millions

It was only at the end of July that the carmaker Tesla announced in the results of its second quarterly report that it had sold 75 percent of its reserves in Bitcoin . For that sale, Tesla added around $936 million to its balance sheet. The selling price of the bitcoin was around $42,000, with the company generating a profit of $12,000 per bitcoin.


Just last January, Musk bought $1.5 billion in bitcoin through Tesla.


Unlike the richest man in the world, Saylor would probably only sell Bitcoin over his dead body. A few weeks ago, he changed his positions from CEO to Executive Chairman at the US company Microstrategy in order to concentrate fully on strategic orientation.


MicroStrategy is considered the largest institutional investor in bitcoins: 129,699 BTC can be found on the wallet.


Saylor recently recommended that Argentina adopt Bitcoin as a means of payment in one of his Twitter posts. The reasons for this recommendation are the horrendously high inflation rates of 71% and the National Bank's reference interest rate of 69.5%. The Latin American country has been struggling with increased currency devaluation since the 2000s.


In 2019, 18 Argentine pesos corresponded to one US dollar, but now it is 140 pesos.


Disclaimer

All information contained on our website has been researched to the best of our knowledge and belief. The journalistic contributions are for general information purposes only. Any action taken by the reader based on the information found on our website is entirely at their own risk.

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