Reflecting back on this conversation between Elon Musk and Michael Saylor from four years ago, I can’t help but feel a sense of nostalgia mixed with awe. As a crypto investor who has seen the ups and downs of this volatile market, I remember the skepticism surrounding Bitcoin back then. Yet here we are today, with Tesla and MicroStrategy collectively holding over 450,000 BTC worth billions!
Four years after it initially took place, a discussion about X (originally Twitter) between Elon Musk, CEO of Tesla, and Michael Saylor, Chairman of MicroStrategy, has once again surfaced. This Bitcoin-focused dialogue was highlighted by Pete Rizzo, a notable figure in Bitcoin history, in his latest tweet.
In the discussion, which dates back to Dec. 20, 2020, Saylor urged Elon Musk to consider a bold move for Tesla with respect to Bitcoin. Saylor suggested that Musk could do Tesla shareholders a $100 billion favor by converting the USD on Tesla’s balance sheet to Bitcoin (BTC).
In simpler terms, Saylor foresaw that this action would not just be advantageous for Tesla, but it could also establish a pattern for other S&P 500 corporations to emulate, possibly amplifying the initial $100 billion benefit into a potential influence of $1 trillion.
Four years ago, I was intrigued as billionaires engaged in discussions about Bitcoin. Fast forward to today, it’s astonishing to see companies like Tesla and Microstrategy holding a staggering 450,000 Bitcoins, valued at an impressive $45 billion! 🔥
— The Bitcoin Historian (@pete_rizzo_) December 19, 2024
If you aim to greatly benefit your shareholders by an equivalent of $100 billion in Bitcoin, consider transitioning TSLA’s financial reports from USD to BTC. Other companies on the S&P 500 might then emulate this action, eventually leading to a favor worth over $1 trillion,” Saylor suggested.
This, Musk replied, asking, “Are such large transactions even possible?”
As an analyst, I’d rephrase the sentence as follows: In this discussion, it was made clear that a significant decision in Bitcoin’s corporate acceptance was on the horizon, with Rizzo pointing out that Tesla and Microstrategy collectively hold approximately 450,000 Bitcoins, valued at more than $45 billion at current market prices.
MicroStrategy and Tesla Bitcoin evolution
Originally known for providing enterprise software, MicroStrategy later transformed into a company primarily focused on Bitcoin holdings. In August 2020, under the leadership of Michael Saylor, it incorporated Bitcoin into its financial records for the first time, and since then, this approach has remained a key part of its strategy.
On Monday, Saylor declared that the company had acquired an additional 15,350 Bitcoins, increasing its Bitcoin portfolio to a staggering 439,000. With this new acquisition, the value of MicroStrategy’s Bitcoin holdings approaches a whopping $46 billion. Beginning December 23rd, MicroStrategy will be included in the Nasdaq-100 index.
As a crypto investor, I’ve just learned from Arkham Intelligence that the automaker currently holds approximately 11,509 Bitcoins, which have seen an increase in value and are now worth a staggering $1.18 billion. However, at this very moment, BTC is experiencing a dip of 2.09% over the past day due to the ongoing market sell-off, with its current price standing at around $102,614.
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2024-12-19 20:11