Elon Musk, CEO of Tesla, is famous for stirring up the market with bold moves and mysterious tweets, which has gotten the crypto world talking again. Robert Leshner, founder of Compound, half-jokingly suggested that Musk might only have two weeks left to buy 100 billion dollars' worth of Bitcoin.
With Musk's influence and Tesla holding some Bitcoin, this amusing prediction makes people wonder: Is Musk about to set a new standard for corporate crypto world investment?
Musk's criticism of the U.S. deficit fuels Bitcoin speculation
Leshner's comment that Musk could "sink" the US dollar by buying Bitcoin comes after Musk criticized the recent tax bill from the House of Representatives. This bill is expected to add trillions to the federal deficit over the next decade, and Musk has not hesitated to criticize what he sees as financially irresponsible.
Leshner's joke imagines Musk making a big move - investing billions of dollars in Bitcoin to hedge against a weakening dollar and increasing deficits.
What does buying Bitcoin worth 100 billion dollars mean?
Bitcoin has a fixed supply of 21 million coins, with approximately 19.87 million coins in circulation. Buying 100 billion dollars will tighten the supply on exchanges, potentially driving the price up as sellers demand more.
Besides the price, Musk's move will boost widespread confidence, encouraging more investors and companies to get involved. Tesla could lead in bringing Bitcoin into the mainstream.
Crypto experts consider Musk's next move
Big names in the crypto world have shared their thoughts. Blockstream CEO Adam Back stated that Bitcoin is the "perfect fit" with Musk but doubts that Musk will increase Tesla's relatively small Bitcoin stake much. Back called it a "smart investment move," but Musk's cautious approach has left people guessing.
Samson Mow has joined X, urging Musk to "go all in" on Bitcoin as Tesla's stock drops. He also suggested SpaceX reduce prices when paying for launches with Bitcoin - emphasizing how cryptocurrency could play a larger role in Musk's businesses.
What's next? The crypto world is waiting.
While Musk has not confirmed any plans to make a large Bitcoin purchase, Leshner's bold joke has sparked much speculation. If Musk indeed puts $100 billion into Bitcoin, this could further shake confidence in the dollar, especially considering the growing concerns over the rising U.S. deficit. Currently, all eyes are on Musk to see if he will make a game-changing move in the crypto world.
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Can Elon Musk "bearish the dollar" by buying 100 billion dollars worth of Bitcoin?
Elon Musk, CEO of Tesla, is famous for stirring up the market with bold moves and mysterious tweets, which has gotten the crypto world talking again. Robert Leshner, founder of Compound, half-jokingly suggested that Musk might only have two weeks left to buy 100 billion dollars' worth of Bitcoin. With Musk's influence and Tesla holding some Bitcoin, this amusing prediction makes people wonder: Is Musk about to set a new standard for corporate crypto world investment? Musk's criticism of the U.S. deficit fuels Bitcoin speculation Leshner's comment that Musk could "sink" the US dollar by buying Bitcoin comes after Musk criticized the recent tax bill from the House of Representatives. This bill is expected to add trillions to the federal deficit over the next decade, and Musk has not hesitated to criticize what he sees as financially irresponsible. Leshner's joke imagines Musk making a big move - investing billions of dollars in Bitcoin to hedge against a weakening dollar and increasing deficits. What does buying Bitcoin worth 100 billion dollars mean? Bitcoin has a fixed supply of 21 million coins, with approximately 19.87 million coins in circulation. Buying 100 billion dollars will tighten the supply on exchanges, potentially driving the price up as sellers demand more. Besides the price, Musk's move will boost widespread confidence, encouraging more investors and companies to get involved. Tesla could lead in bringing Bitcoin into the mainstream. Crypto experts consider Musk's next move Big names in the crypto world have shared their thoughts. Blockstream CEO Adam Back stated that Bitcoin is the "perfect fit" with Musk but doubts that Musk will increase Tesla's relatively small Bitcoin stake much. Back called it a "smart investment move," but Musk's cautious approach has left people guessing. Samson Mow has joined X, urging Musk to "go all in" on Bitcoin as Tesla's stock drops. He also suggested SpaceX reduce prices when paying for launches with Bitcoin - emphasizing how cryptocurrency could play a larger role in Musk's businesses. What's next? The crypto world is waiting. While Musk has not confirmed any plans to make a large Bitcoin purchase, Leshner's bold joke has sparked much speculation. If Musk indeed puts $100 billion into Bitcoin, this could further shake confidence in the dollar, especially considering the growing concerns over the rising U.S. deficit. Currently, all eyes are on Musk to see if he will make a game-changing move in the crypto world.