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Cryptocurrencies: 26585
Markets: 104250
Market Cap: $3,363,512,843,742     
24h Vol: $68,523,822,230
Seeking Alpha 2021-02-08 20:40:02

Tesla has 'de-rsked' purchase of Bitcoin by public companies - Microstraegy's Saylor

Tesla has 'de-rsked' purchase of Bitcoin by public companies - Microstraegy's Saylor
I'd rather have a volatile appreciating asset than a stable depreciating asset, says Microstrategy ([[MSTR]] +25.2%) CEO Michael Saylor, quickly making the case for corporate treasurers to swap out dollars for Bitcoin (BTC-USD) on the company books.Appearing on CNBC to comment on Tesla's ([[TSLA]] +0.8%) disclosure of the purchase of $1.5B worth of Bitcoin, Saylor didn't confirm or deny whether he's been in private contact with Elon Musk, but he says the move has de-risked the acquisition of Bitcoin by public companies, and expects more corporate chiefs to follow.Bitcoin continues to hold most of its morning gains, up 12.7% for the day at $43.46K.It was about two months ago when Saylor offered (via Twitter) to advise Musk on Bitcoin purchases "from one rocket scientist to another."
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