Tesla and Spacex CEO Elon Musk made a series of tweets about bitcoin on Sunday. One of them concerns whether it is possible to buy bitcoin in “large transactions,” particularly for Tesla to convert its U.S. dollar reserves into bitcoin. Microstrategy’s CEO told Musk that this move would be “a $100 billion favor” to Tesla’s shareholders that would grow into a “$1 trillion favor.”
Elon Musk’s Bitcoin Tweets
Elon Musk tweeted about bitcoin several times on Sunday, starting with “Bitcoin is my safe word,” making the same joke he previously made on several occasions. This time he followed up with “Just kidding, who needs a safe word anyway?” His initial tweet garnered over 6.1k comments at the time of writing. It had been retweeted more than 21.1k times and liked 210.1k times.
A few hours later, Musk tweeted about bitcoin and dogecoin. One tweet reads: “Bitcoin is almost as bs as fiat money,” which many commenters have taken as a welcome insult to government money, particularly the U.S. dollar. Another tweet says: “One word: Doge.”
Musk also replied to a bitcoin price prediction made by Twitter user Mark Calloway. “I predict a crash, I also predict it will reach $50k in [the] next five years,” he wrote. The Tesla CEO replied, “Sounds about right.”
Musk then tweeted a bitcoin meme that attracted Microstrategy CEO Michael Saylor to comment a few hours later. Saylor has become an avid bitcoin proponent after making the cryptocurrency his billion-dollar company’s primary Treasury reserve asset.
The Microstrategy CEO told Musk: “If you want to do your shareholders a $100 billion favor, convert the $TSLA balance sheet from USD to BTC. Other firms on the S&P 500 would follow your lead & in time it would grow to become a $1 trillion favor.” Musk responded to Saylor:
Are such large transactions even possible?
Saylor answered: “Yes. I have purchased over $1.3 billion in BTC in past months & would…