Titus

Last week, Tesla founder Elon Musk spoke again about the cryptocurrency Bitcoin. He explained via Twitter that he would in no way be opposed to payment in Bitcoin.

On January 8, 2021, writer Ben Mezrich published a tweet stating that he would not refuse to be paid with Bitcoin. About a day later, Elon Musk replied to this tweet with the words “neither do I.”

For many entrepreneurs, 2020 was marked by financial losses. But not for Elon Musk. He recently overtook Amazon founder Jeff Bezos in Bloomberg’s billionaires index and is now considered the richest person in the world. His net worth is estimated at $ 209 billion as of Jan. 12.

A few days ago, the Bitcoin price reached a new all-time high and cracked the 40,000 US dollar mark. As early as December 2020, rumors were circulating that Musk’s company Tesla wanted to add Bitcoin to its balance sheet. The automaker’s stock is currently soaring, recently breaking the $ 800 mark. Last year, Tesla delivered a total of over half a million cars. Musk called this a milestone in early January:

I am so proud of the Tesla team that they reached this important milestone! When Tesla started, I thought we had (optimistically) a 10 percent chance of surviving at all.

Twitter

Musk made public inquiries with MicroStrategy founder Michael Saylor regarding converting Tesla’s corporate assets into Bitcoin. Saylor’s answer to Musk’s question as follows:

If you want to do your shareholders a $ 100 billion favor, convert Tesla’s balance sheet from dollars to bitcoin.

Musk then asked whether transactions of this magnitude were even feasible. Saylor responded to this question, recalling that he himself has invested over $ 1.3 billion in Bitcoin in the past few months. You could almost think that the two company founders already suspected that their public BTC discussion would further increase the run of potential investors.

It remains to be seen how literally Musk’s statement about wanting to be paid with Bitcoin is to be taken. Given the current Bitcoin exchange rate, which is still at $ 34,000 despite its recent correction, that doesn’t seem like a bad idea.




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Elon Musk is the richest person in the world — and wants to be paid in Bitcoin | by Titus | The Capital | Jan, 2021

by Benjamin Hartman
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