Michael Saylor does not relent in his promotion of Bitcoin. The 57-year-old co-founder of business intelligence firm MicroStrategy remains one of the most prominent Bitcoin maximalists. Recently, Saylor advised billionaire Elon Musk to purchase more BTC as the latter [jokingly] hinted at buying a football club.
Michael Saylor wants Musk to buy
more BTC instead of a football team
Taking to Twitter, Founder and
CEO of electric motor vehicle Elon Musk hinted at purchasing English Football
Club Manchester United. “Also, I’m buying Manchester United ur welcome,” he
said. The tweet caught the attention of a lot of fans and mainstream
media. This is largely due to the fact that fans of the club are not satisfied
with the decisions of current owners.
When asked if he was serious,
Musk noted that it was a joke and had no intention of buying a sports team.
Nonetheless, he said that it would be Manchester United if he wanted to
purchase a football club. This has not stopped people from making remarks on
the comment, Michael Saylor being one of such.
“We
would prefer that you buy some more Bitcoin,” Saylor said in reply to Musk.
Saylor’s comment comes barely two months after his business intelligence firm
revealed it had purchased more BTC. Michael Saylor has made it a habit to
endorse BTC every chance he gets, especially on Twitter.
Tesla dumped 75% of its BTC
holdings
On the other hand, Musk is not
so much of a Bitcoin maximalist. While the American billionaire has not mainly
expressed antagonism towards BTC, his focus in the past has been on
Dogecoin. Nonetheless, Musk’s electric vehicle company, Tesla, had shown a
massive interest in BTC.
In February of last
year, Tesla revealed that it had added $1.5B worth of BTC to its balance
sheets. The firm further noted that it plans to start accepting Bitcoin as a
payment method. Tesla went on to dump 75% of its BTC holdings
systematically, as it revealed in its Q2 2022 earnings statement.
Musk noted that the selloff was
not due to BTC’s price performance but was an aim to improve its cash flow
situation. In contrast, Saylor’s MicroStrategy purchased more BTC during the
Crypto Winter.
Two months back, MicroStrategy
revealed that it had bought 480 more BTCs from May 3 to June 28. The firm now
holds 129,699 BTCs valued at $3B against the prevailing rate. This makes
MicroStrategy the most significant institutional holder of the asset.
Source: zycrypto.com