Bitcoin, the comeback? – Bitcoin (BTC) is it not trotting strongly in the minds of Tesla and its founder, Elon Musk? In an official accounting document, released last month, the company had already revealed that it may well revive the possibility of crypto transactions. But won’t a massive new BTC buy also be part of the game?
The billions of Musk soon to be injected into Bitcoin?
In February 2021, the billionaire Elon musk and his company You’re here had caused a sensation in the cryptosphere, announcing thepurchase of $ 1.5 billion in bitcoins on behalf of the electric vehicle company.
Although he owns bitcoins, ethers (ETH) and dogecoins (DOGE), Musk holds most of his personal fortune in Tesla shares. However, important tax reforms in the United States make him wonder what he could do with it.
In what is dubbed the “Billionaires’ Tax” (tax for billionaires), the current US Secretary of the Treasury, Janet Yellen, would like to tax unrealized gains of the richest people in the United States.
As the precise AMBCrypto, this could concern approximately 700 people in the country, including of course our fantastic Elon Musk – who gets away with it Jeff Bezos from Amazon, as the richest man on the planet – although with the recent surge in Tesla shares, Elon clearly distances Jeff.
The founder and CEO of Tesla and SpaceX thus comes to ask the following question to his close 63 million followers on Twitter (while promising to comply):
“There has been a lot of talk lately about unrealized capital gains as a means of tax evasion. I therefore propose to sell 10% of my Tesla shares. Do you agree ? “
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Michael Saylor’s $ 24 billion BTC idea
At the end of his survey (with more than 3.5 million participants), Elon Musk saw a fairly large majority – 57.9% – advise him that, Yes, He should resell 10% of its shares. It is 19.3 million TSLA shares at about $ 1,230 each (at the time of this writing), a trifle of almost $ 24 billion.
The fervent – not to say fanatic – defender of Bitcoin, Michael saylor, the CEO of MicroStrategy, rushed into the breach, advising Elon Musk on another strategy, consisting of convert downright Tesla’s record in BTC:
“If the goal is diversification, another strategy to consider is to convert Tesla’s balance sheet into Standard Bitcoin, and buy $ 25 billion in BTC. This would achieve diversification, inflation protection and more benefits for all investors, in a tax efficient manner. “
Not sure this helps Elon Musk with his taxation problems, but Michael Saylor is not his first ultra-maximalist statement on Bitcoin.
However, it remains true that Tesla has also saw his unrealized gains exploded from just holding BTC. Musk’s company has, in fact, now raked in more than $ 1 billion in unrealized capital gains on its purchase of bitcoins in February 2021.
Is good old Elon Musk about to shake the crypto market (again)? In the meantime, do like Tesla and diversify your investments. Note that a cool offer awaits you on Ascendex with 10% off your trading fees and an airdrop as soon as you exceed $ 100 in traded volume.Do not wait to sign up !(affiliate link, see conditions on the site)