If you’ve paid attention to crypto twitter, where Elon Musk is either prone to making sarcastic jokes about Bitcoin or posting about anything from space technology to anime, then it’s no news to you that the billionaire has made the position of the world’s richest Billionaire Jeff Bezos’s husband, who has held the position since 2017.
Barely on the list of the 50 richest people in 2020, Musk is now worth an astonishing $ 184 billion thanks to his company’s surge in Tesla’s stake. The electric vehicle maker outperformed Facebook shares by more than 7% a few days ago, increasing its market cap to nearly $ 800 billion.
Musk, who responded to his newly acquired fortune with “How strange, good back to work,” was the talk of Fintech Twitter, especially Crypto Twitter. Amid several congratulatory messages, Crypto-Twitter started a conversation about the best wealth preservation strategy Musk could employ in the future, and although the CEO had previously denied possession of bitcoins, Bitcoiners predict that Musk will soon have no other choice, than buying into Bitcoin.
Last year, some billionaires took a bullish move into the cryptocurrency market when inflation was catapulted. And as the US government continues to print more money, inflation won’t be a thing of the past anytime soon, and the rich are less likely to have an alternative choice than Bitcoin, which already outperforms “gold,” a long-time industry favorite.
If Musk decides to dive into Bitcoin, Crypto Twitter will be set on fire. A bullish price rally is likely to follow an assumption that is sure to skyrocket, but this won’t come as a surprise to many industry players. Given that fiat continued to depreciate, Bitcoin seems like the best choice for the billionaire entrepreneur.
The players in the industry shared their opinion on this saying.
“When Elon Musk buys Bitcoin, it’s because he knows that Bitcoin is interplanetary money. We’re going to have a damn side chain on Mars.
The moon isn’t even far enough. “
Another bitcoiner had this to say;
“Congratulations, Elon Musk, on becoming the richest man in the world. Buy Bitcoin now to preserve this wealth or Michael Saylor will turn you around in 2022. “
Meanwhile, Barry Silbert from Grayscale is already sure that the billionaire already has some bitcoins in his possession. “Twitter will absolutely lose its shit if Elon / Tesla disclose Bitcoin holdings,” he tweeted.
And surprisingly, Elon Musk’s recent response to receiving a payment in Bitcoin could be an indication that he is already buying crypto. When the writer of the Bitcoin-centric film “Accidental Billiardaires” said on Twitter that he would never refuse to be paid in Bitcoin again, Musk replied, “Neither do I.”