Could Michael Saylor have influenced Elon Musk's Bitcoin Purchase?

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In a recent interview with Time, Michael Saylor said that he believed his Twitter conversation with Elon Musk late last year inspired the Tesla CEO to make a huge bitcoin purchase.

Musk tweeted an infamous image of a monk trying to ignore a pretty girl who had the word "Bitcoin" written on her buttocks.

Saylor responded to the tweet and said that Musk should do Tesla shareholders "a $ 100 billion favor" and convert Tesla's balance sheet from dollars to Bitcoin. Musk replied: "Are such big deals even possible?"

"Yes, I have purchased over $ 1.3 billion worth of #BTC in recent months, and I will be happy to share with you my offline action plans from one rocket scientist to another."

It was on February 8 of this year, that it became apparent that Musk and Tesla had actually bought $ 1.5 billion worth of bitcoin with cash from the balance sheet. It was also announced that Tesla will start accepting bitcoin as payment for its electric vehicles.

Finally, Saylor was asked if Bitcoin could just be an "irrational abundance." His answer was:

"No, it's the opposite. This is a textbook example of rational action in response to monetary inflation."

He added that Bitcoin was not speculation and in fact it was a unique new technology. He said he would like Bitcoin to be recognized as a legitimate asset class.

The material has been provided by InstaForex Company - www.instaforex.com

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