Speaking to Time magazine, MicroStrategy Incorporated Inc (NASDAQ: MSTR) CEO Michael Saylor said one of his tweets played a key role in Tesla’s $ 1.5 billion investment in Bitcoin (CRYPT: BTC).
What happened: On December 20, after Musk tweeted another crypto meme, CEO of MicroStrategy answered, suggesting “converting the TSLA balance sheet from USD to BTC ”, which would be“ a $ 100 billion favor ”for Tesla shareholders.
If you want to do your shareholders a $ 100 billion favor, convert the $ TSLA balance sheet from USD to #BTC. Other companies on the S&P 500 would follow his lead, and in time, he would become a $ 1 trillion favor.
– Michael Saylor (@michael_saylor) December 20, 2020
Tesla’s CEO responded by asking if these big deals are even possible. Saylor said he would be happy to share his experience of buying $ 1.3 billion worth of bitcoins offline with Musk.
yea. I bought more than $ 1.3 billion in #BTC the past few months and would be happy to share my manual with you offline – from one scientist to another.
– Michael Saylor (@michael_saylor) December 20, 2020
That was the turning point, according to Saylor. But he did not reveal whether he actually spoke to Musk in person, despite the reporter’s numerous attempts.
“I cannot comment on any conversation I would have with another director of a publicly-held company. It is against corporate etiquette, ”he insisted. “It is not an appropriate commercial decorum,” said Saylor after the reporter pointed out that the Security and Exchange Commission does not prohibit disclosures like this.
What he is sure of is that the switch from Twitter impacted Musk’s decision.
Why it matters: The executive at the business intelligence firm says Tesla’s $ 1.5 billion investment in Bitcoin was “a tipping point” and changed a narrative about the crypto industry.
“Suddenly, the narrative goes from“ These freaks, what are they thinking, speculating on Bitcoin? ”To“ Maybe this is a real thing. It probably won’t go away. We will try to figure out how to think about it, ”he told Time.
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