Five days ago, Michael Saylor did a interview on HyperChange YT Channel and he advised Elon to use Tesla’s treasury to buy bitcoin because any cash on hand is losing 15% of its purchasing power each year an in 36 months the purchasing power would have decreased by 50%. However, if you put that cash into bitcoin, that purchasing power is going to double every year for the next three years.
Michael knows what he's talking about. In August and September, MicroStrategy bought $250 Million worth of BTC and $175 Million worth of BTC, respectively. And at the time, Bitcoin was trading under $11,000. Then a couple of weeks ago, MicroStrategy announced plans to offer $400 million of convertible bonds in order to buy more of the cryptocurrency...they raised a total of over $600 million in two days and bought bitcoin near the $17,000 level.
I truly believe Elon is going to listen to Michael...why...because Michael attended the Massachusetts Institute of Technology (MIT) on a full Air Force scholarship where he got a dual degrees in aeronautics and astronautics, graduating with highest honors. So while they are talking about bitcoin, they can also talk Space X stuff. But it only makes sense for Elon to pull the trigger. Elon doesn’t own any Amazon or Apple or any other FANG stock. Elon doesn’t even own any bitcoin. The vast majority of Elon musk's net worth is tied to the price of Tesla's stock.
It appears Elon's biggest concern is liquidity. But Tyler Winklevoss co-founder of Gemini, Gemini is a private, licensed digital asset exchange that the twins stated in 2015 after purchasing $11 million worth of Bitcoins in 2013 twitted to Elon that there is plenty of liquidity to get it done.
This type of Twitter talk is bound to push Bitcoin to $30k...perhaps before the end of the year.
This post is my personal opinion. I’m not a financial advisor, this isn't financial advice. Do your own research before making investment decisions.