{"id":33712,"date":"2020-12-21T10:53:57","date_gmt":"2020-12-21T08:53:57","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=33712"},"modified":"2025-08-28T15:14:33","modified_gmt":"2025-08-28T12:14:33","slug":"elon-musk-questions-bitcoins-use-in-large-transactions","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/elon-musk-questions-bitcoins-use-in-large-transactions\/","title":{"rendered":"Elon Musk questions Bitcoin&#8217;s use in large transactions"},"content":{"rendered":"<p>Tesla and SpaceX founder Elon Musk asked MicroStrategy chief Michael Saylor whether $100 billion transactions are possible on the Bitcoin network.<!--more--><\/p>\n<p>Musk posed this question in response to Saylor\u2019s retweet, which proposed converting Tesla\u2019s $100 billion in reserves into Bitcoin. Saylor suggested that Musk\u2019s example could be followed by other chief executives of large companies in the S&amp;P 500, potentially pushing the investment to $1 trillion.<\/p>\n<blockquote class=\\\"twitter-tweet\\\">\n<p dir=\\\"ltr\\\" lang=\\\"en\\\">Are such large transactions even possible?<\/p>\n<p>\u2014 Elon Musk (@elonmusk) <a href=\\\"https:\/\/twitter.com\/elonmusk\/status\/1340678358456274948?ref_src=twsrc%5Etfw\\\">December 20, 2020<\/a><\/p>\n<\/blockquote>\n<p><script async src=\\\"https:\/\/platform.twitter.com\/widgets.js\\\" charset=\\\"utf-8\\\"><\/script><\/p>\n<p>Saylor was among those over the weekend who did not miss Musk\u2019s latest foray into cryptocurrencies. In it, he again professed his love for Dogecoin and <a href=\"https:\/\/u1f987.com\/en\/news\/strange-bitcoin-jokes-posted-on-elon-musks-twitter-account-hack-suspected\">posted<\/a> a frivolous image, comparing Bitcoin to fiat money and calling it \u201cthe same crap.\u201d<\/p>\n<p>In response to the question, the MicroStrategy CEO said he had purchased his first cryptocurrency worth $1.3 billion [<a href=\"https:\/\/u1f987.com\/en\/news\/microstrategy-chief-reveals-how-many-bitcoins-he-owns\">17,732 BTC personal<\/a> and <a href=\\\"https:\/\/bitcointreasuries.org\/\\\" target=\\\"_blank\\\" rel=\\\"noopener noreferrer\\\">40,824 BTC for the company<\/a>] and is ready to share his playbook on how to be a \u201crocket scientist to another rocket scientist.\u201d<\/p>\n<blockquote class=\\\"twitter-tweet\\\" data-conversation=\\\"none\\\">\n<p dir=\\\"ltr\\\" lang=\\\"en\\\">Yes. I have purchased over $1.3 billion in <a href=\\\"https:\/\/twitter.com\/hashtag\/BTC?src=hash&#038;ref_src=twsrc%5Etfw\\\">#BTC<\/a> in past months &#038; would be happy to share my playbook with you offline \u2014 from one rocket scientist to another.<\/p>\n<p>\u2014 Michael Saylor (@michael_saylor) <a href=\\\"https:\/\/twitter.com\/michael_saylor\/status\/1340679387998527489?ref_src=twsrc%5Etfw\\\">December 20, 2020<\/a><\/p>\n<\/blockquote>\n<p><script async src=\\\"https:\/\/platform.twitter.com\/widgets.js\\\" charset=\\\"utf-8\\\"><\/script><\/p>\n<blockquote><p>\u201cEvery CEO faces the challenge of preserving and increasing shareholder value in the face of unprecedented monetary expansion this year. Bitcoin is the best solution to the problem of preserving value that confronts every person, investor and corporation on Earth,\u201d <a href=\\\"https:\/\/www.reuters.com\/article\/us-tesla-cryptocurrency-idUSKBN28U0XM\\\" target=\\\"_blank\\\" rel=\\\"noopener noreferrer\\\">commented<\/a> by Saylor to Reuters.<\/p><\/blockquote>\n<p>On Musk\u2019s tweets, Roger Ver and Peter Schiff also reacted. The former <a href=\"https:\/\/u1f987.com\/en\/news\/microstrategy-chief-pledges-not-to-sell-bitcoin-for-a-century\">gave a link<\/a> to an interview with Saylor, in which he shares his philosophy of investing in Bitcoin, and plugged Bitcoin Cash.<\/p>\n<p>The latter saw irony in Musk\u2019s words and thought that he was unlikely to pull off a \u201cdouble bubble\u201d (counting Bitcoin\u2019s price and Tesla\u2019s stock inflated). Also the well-known Bitcoin critic reminded Saylor of his wish to debate him about the advantages of gold over Bitcoin.<\/p>\n<blockquote class=\\\"twitter-tweet\\\">\n<p dir=\\\"ltr\\\" lang=\\\"en\\\">Hey <a href=\\\"https:\/\/twitter.com\/elonmusk?ref_src=twsrc%5Etfw\\\">@elonmusk<\/a>, here is <a href=\\\"https:\/\/twitter.com\/michael_saylor?ref_src=twsrc%5Etfw\\\">@michael_saylor<\/a>\u2019s plan for <a href=\\\"https:\/\/twitter.com\/hashtag\/Bitcoin?src=hash&#038;ref_src=twsrc%5Etfw\\\">#Bitcoin<\/a> in his own words. That\u2019s why people who care about brining more economic freedom to the world love <a href=\\\"https:\/\/twitter.com\/hashtag\/BitcoinCash?src=hash&#038;ref_src=twsrc%5Etfw\\\">#BitcoinCash<\/a> <a href=\\\"https:\/\/twitter.com\/hashtag\/Monero?src=hash&#038;ref_src=twsrc%5Etfw\\\">#Monero<\/a> <a href=\\\"https:\/\/twitter.com\/hashtag\/Zcash?src=hash&#038;ref_src=twsrc%5Etfw\\\">#Zcash<\/a> or anything that can actually work as P2P cash for the world. <a href=\\\"https:\/\/t.co\/EKrqdneh2A\\\">pic.twitter.com\/EKrqdneh2A<\/a><\/p>\n<p>\u2014 Roger Ver (@rogerkver) <a href=\\\"https:\/\/twitter.com\/rogerkver\/status\/1340799990013300736?ref_src=twsrc%5Etfw\\\">December 20, 2020<\/a><\/p>\n<\/blockquote>\n<p><script async src=\\\"https:\/\/platform.twitter.com\/widgets.js\\\" charset=\\\"utf-8\\\"><\/script><\/p>\n<blockquote class=\\\"twitter-tweet\\\">\n<p dir=\\\"ltr\\\" lang=\\\"en\\\">It seems like <a href=\\\"https:\/\/twitter.com\/elonmusk?ref_src=twsrc%5Etfw\\\">@elonmusk<\/a> was only joking about exposing Tesla shareholders to Bitcoin. So I don\u2019t need to convince the board not to turn Tesla into a double bubble. But I\u2019m still willing to debate <a href=\\\"https:\/\/twitter.com\/michael_saylor?ref_src=twsrc%5Etfw\\\">@michael_saylor<\/a> on <a href=\\\"https:\/\/twitter.com\/hashtag\/Bitcoin?src=hash&#038;ref_src=twsrc%5Etfw\\\">#Bitcoin<\/a> verse <a href=\\\"https:\/\/twitter.com\/hashtag\/gold?src=hash&#038;ref_src=twsrc%5Etfw\\\">#gold<\/a>. Perhaps <a href=\\\"https:\/\/twitter.com\/joerogan?ref_src=twsrc%5Etfw\\\">@joerogan<\/a> is willing to moderate.<\/p>\n<p>\u2014 Peter Schiff (@PeterSchiff) <a href=\\\"https:\/\/twitter.com\/PeterSchiff\/status\/1340799678988861441?ref_src=twsrc%5Etfw\\\">December 20, 2020<\/a><\/p>\n<\/blockquote>\n<p><script async src=\\\"https:\/\/platform.twitter.com\/widgets.js\\\" charset=\\\"utf-8\\\"><\/script><\/p>\n<p>The head of Binance, Changpeng Zhao, suggested that Musk would ultimately buy Bitcoin.<\/p>\n<blockquote>\n<p>\u201cThe question is simply this: do you want to be ahead of the Tesla CEO or after him ?\u201d, \u2014 wrote he.<\/p>\n<\/blockquote>\n<blockquote class=\\\"twitter-tweet\\\">\n<p dir=\\\"ltr\\\" lang=\\\"en\\\">Tesla \/ <a href=\\\"https:\/\/twitter.com\/elonmusk?ref_src=twsrc%5Etfw\\\">@elonmusk<\/a> will buy crypto. Just a matter of time. This is one of the few prediction I am happy to put my name on.<\/p>\n<p>The real question is: do you want to be before or after them?<\/p>\n<p>\u2014 CZ Binance (@cz_binance) <a href=\\\"https:\/\/twitter.com\/cz_binance\/status\/1340709126813302785?ref_src=twsrc%5Etfw\\\">December 20, 2020<\/a><\/p>\n<\/blockquote>\n<p><script async src=\\\"https:\/\/platform.twitter.com\/widgets.js\\\" charset=\\\"utf-8\\\"><\/script><\/p>\n<p>Last year, Musk won the tongue-in-cheek April Fool\u2019s poll in which users were asked to vote for the most suitable candidate to be the CEO of Dogecoin.<\/p>\n<p>In July this year, Musk said on Twitter about the prospects for using Dogecoin technology as a global financial system. After his tweet, the token\u2019s price rose by 17%.<\/p>\n<p>Earlier, Fidelity Investments\u2019 chief analyst Ria Bhutoria <a href=\"https:\/\/u1f987.com\/en\/news\/fidelity-counters-common-arguments-against-bitcoin\">noted<\/a> the potential benefit Bitcoin could bring for settling transactions between large multinational companies. She did not rule out that such transactions could also occur between governments and central banks.<\/p>\n<p>Subscribe to ForkLog news on <a href=\\\"https:\/\/www.facebook.com\/forklog\\\" target=\\\"_blank\\\" rel=\\\"nofollow noopener noreferrer\\\">Facebook<\/a>!<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Tesla and SpaceX founder Elon Musk asked MicroStrategy chief Michael Saylor whether $100 billion transactions are possible on the Bitcoin network.<\/p>\n","protected":false},"author":1,"featured_media":33713,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[1227,1217,1207],"class_list":["post-33712","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-cryptocurrency-transactions","tag-elon-musk","tag-microstrategy"],"aioseo_notices":[],"amp_enabled":true,"views":"20","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/33712","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=33712"}],"version-history":[{"count":1,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/33712\/revisions"}],"predecessor-version":[{"id":33714,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/33712\/revisions\/33714"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/33713"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=33712"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=33712"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=33712"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}