Michael Saylor Proposes Elon Musk Converting Tesla Balance Sheet To Bitcoin

Michael Saylor has a proposition for Elon Musk. Check out what he replied via Twitter in the post below.

If the goal is diversification, an alternate strategy to consider is converting the $TSLA balance sheet to a #Bitcoin Standard and purchasing $25 billion in $BTC. That would deliver diversification, inflation protection, & more upside for all investors in a tax efficient manner.

— Michael Saylor⚡️ (@saylor) November 6, 2021

Someone said: “Converting 100% of balance sheet to another currency, crypto or fiat does not deliver any diversification. It’s also no more tax efficient.”

Another follower posted this: “Selling shares of an innovative company that delivers actual products to the market for a digital pet rock is probably a terrible idea.”

One other commenter hopped in the comments and left this message: “Bitcoin is the most significant innovation on behalf of human rights that you have witnessed in your lifetime. I will not bear silent witness to crimes against humanity simply to appease your lack of study. Educational resources are abundant and available, you have no excuse.”

The mass adoption of Bitcoin continues with more and more moves being made in this direction.

According to the latest reports, Brazil is considering a new law that would allow workers to be paid in BTC.

Bitcoin Magazin notes that the bill seeks to change the current law that dictates Brazilian workers can only be paid with the national currency and allow the option to be paid in Bitcoin.

The same online publication notes that the author, deputy Luizão Goulart shared the natural evolution of money as a cause for his proposal.

“Money was one of the greatest creations in the history of humanity,” per the draft bill.

The notes state:

“It allowed us to rise from a primitive barter-based society to an extremely complex and productive society.”

Stay tuned for more news.