July 17, 2023 at 17:35 GMTModified date: July 17, 2023 at 17:35 GMT
July 17, 2023 at 17:35 GMT

“Bitcoin is never boring”: Saylor tweets to Musk

Elon Musk got an unexpected response to his post lamenting his Twitter woes from Bitcoin evangelist, Michael Saylor, who said: “Bitcoin is never Boring”.

“Bitcoin is never boring”: Saylor tweets to Musk

Elon Musk, the largest shareholder of Twitter, took to the platform, posting about the ever-so entertaining space.

In a post shared on 17 July, he stated that “Whatever sins this platform may have, being boring is not one of them.”

This got an unexpected response from Bitcoin evangelist, Michael Saylor, who said: “Bitcoin is never Boring.”

Saylor is known for his bullish sentiments on the king coin. As the head and founder of MicroStrategy, he has made sure that the business analytics platform continues to hold Bitcoin as its primary reserve asset.

MicroStrategy is also the top company with the largest Bitcoin holding. Just three weeks ago, the company purchased another big stash of 12,333 $BTC, which cost approximately $347million.

As per past tweets, Elon Musk is also known to hold Bitcoin and some Ethereum. Tesla, which is his multinational automotive and clean energy company, had put $1.5bn worth of Bitcoin on its balance sheet back in 2021 while also announcing that it would be accepting $BTC for its e-cars.

However, later on the company revealed its decision to stop selling cars for Bitcoin over environmental concerns related to proof-of-work mining. Musk claimed that it would resume accepting $BTC once its mining becomes at least 50% based on green energy technologies.

According to Michael Saylor, Bitcoin achieved this level back in 2021 itself. But, Tesla continued to sell its Bitcoin holdings and never resumed accepting $BTC.

Last year, the Bitcoin maximalist took a hit at Musk on Twitter over Tesla selling three quarters of its Bitcoin holdings. To this, Saylor said: “If you sell 75% of your bitcoin, you will only have 25% of your bitcoin left.”

While Tesla and Musk have had an on-and-off relationship with the top crypto asset, MicroStrategy and Saylor have continued to buy the dip during the crypto bear market.

At the time of writing, the price of Bitcoin is trading at $30,139.32, down 0.90% in the past 24 hours.