Elon Musk Wants to Get Paid in BTC?
Musk has always been there to give his thoughts and ideas on crypto. The problem is he goes back and forth – so much so that it’s hard to take him seriously. Is he a fan of crypto or not? Is it something he considers revolutionary, or does he believe all crypto will potentially become null and void? His past comments have led traders and investors to consider both.
In his latest bitcoin ploy, he states that he would be pleased to potentially get paid in bitcoin sometime in the future. Ben Mezrich – the writer of “Bitcoin Millionaires” published a tweet that explained he would never turn down the opportunity of “getting paid in bitcoin again.” Musk responded to the tweet with a simple message that read “Me neither.”
This might lead one to believe that Musk is intrigued by bitcoin and believes it has a lot to offer. However, one must wonder how valid this would be, considering Musk has been rather harsh towards the world’s number one digital currency by market cap in the past. Recently, Musk took to social media with his questions regarding the possibility of transferring some of Tesla’s financial reserves into bitcoin.
The message got special recognition from Michael Saylor, the CEO of MicroStrategy, which recently garnered heavy attention thanks to its excessive purchases of bitcoin throughout 2020. The company is one the first institutional endeavors to openly provide support for the asset and buy it up as though it were some sort of hedge tool.
Saylor was quick to suggest that Musk do his shareholders “a favor” and get to transferring as much of Tesla’s money into BTC as he could. The fact that Musk even asked about this would suggest he sees something in the asset, but in looking upon his previous comments about bitcoin, there’s likely to be some doubt along the way.
Prior to the question regarding transferring funds into BTC, Musk was quick to bash the currency and call it as “bs as fiat money.” Naturally, Musk was referring to the fact that funds have been heavily overprinted over the last several months as a means of providing stimulus money to citizens affected by the ongoing coronavirus pandemic.
Hard to Know What He Thinks
But in that time, many have seen bitcoin as something that can keep their wealth safe during times of strife. Something that is potentially stronger than fiat; a currency that can really hold its ground, yet Musk is comparing bitcoin unfavorably to fiat and placing it along the same lines.
In the same message, Musk was quick to provide support for Dogecoin, which he has often been supportive of in the past. He has even referred to it as “the best coin.”