Elon Musk's New Tweet Gets Unexpected 'Bitcoin Response' From Michael Saylor: Details
Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available.
Elon Musk has posted a tweet about Twitter accepting, it seems, various forms of criticism regarding it — except one.
He stated that "whatever sins this platform may have, being boring is not one of them." Bitcoin advocate, head and founder of MicroStrategy Michael Saylor tweeted in response that "Bitcoin is never Boring."
#Bitcoin is never Boring.
— Michael Saylor⚡️ (@saylor) July 17, 2023
"Relationship" between Musk and Bitcoin
Elon Musk's tweets often attract the attention of various crypto enthusiasts because it is a good chance to make themselves visible to the masses of people who read Musk's tweets. The total count of Elon Musk's followers on Twitter stands at a whopping 148.3 million.
Musk is a well-known fan of the original meme coin DOGE and one of the largest holders of it. However, according to his earlier tweets, he also holds Bitcoin and some Ethereum.
In early 2021, Tesla, which is spearheaded by the tech innovator, put $1.5 billion worth of Bitcoin on its balance sheet. Also, he announced that Tesla would be accepting BTC for its e-cars. However, later on, after a month or so, the company stopped selling cars for Bitcoin over environmental concerns related to proof-of-work mining.
Yuri MolchanBitcoin hitting all-time high thanks to Musk
Over the next two years, the company sold its Bitcoin holdings and never resumed accepting BTC, despite Musk's statement that it would be done once BTC mining becomes at least 50% based on green energy technologies. This level was reached, according to Michael Saylor, back in 2021.
Also, thanks to Tesla, Bitcoin reached a new all-time high in April of that year but then surpassed it in October, reaching almost $69,000 per Bitcoin.
In the meantime, MicroStrategy continues to add Bitcoin to its balance sheet with the intention of long-term holding. As reported by U.Today, three weeks ago, the company purchased another stash of 12,333 BTC. It cost the company approximately $347 million.
As of June 27, the company owns 152,333 BTC that it bought for roughly $4.52 billion.
Related articles
Vladislav Sopov
Tomiwabold Olajide
Dan Burgin