A recent Twitter conversation between Musk & Microstrategy's Michael Saylor has sent the cryptosphere all abuzz.
Within several days of passing the $20,000 milestone, the price of Bitcoin already managed to briefly pass over $24,000 several times. Is $25,000 next? Or is BTC due for a correction?
At press time, it certainly seems as though the latter may be true. Within the last 24 hours, Bitcoin had fallen more than three percent, seemingly on the way down from its latest move over $24,000.
Could the correction move further? It’s certainly possible. After all, with such explosive price growth in BTC, corrections are almost a certainty.
Alex Mashinsky, Chief Executive and Founder of crypto lending company, Celsius, previously told Finance Magnates that “we will see $16k before we see $26k.”
”Bitcoin Is My Safe Word”
However, Bitcoin could still have a ways to go on its upward journey before a meaningful correction takes place, and it could have a lot to do with Tesla Founder, Elon Musk.
“Bitcoin is my safe word,” Musk tweeted on Sunday.
The same day, Reuters reported that in a Twitter exchange, Musk spoke with Michael Saylor, Chief Executive Officer of MicroStrategy, about the possibility of converting 'large transactions' of Tesla’s balance sheet into Bitcoin. MicroStrategy recently announced that it had invested a total of $1.1 billion into Bitcoin.
Yo! MicroStrategy's $425,000,000 (38,250BTC) #Bitcoin fund is now worth $879,313,950 +106.90% | Current BTC price: $22,989
Share price was $118.22, now $301.2 which is +154.78% since Bitcoin capital allocation strategy announcement on 08-Jul-20
— MicroStrategy Bitcoin fund tracker bot (@MStratBTCValue) December 19, 2020
“If you want to do your shareholders a $100 billion favor, convert the $TSLA balance sheet from USD to #BTC,” Saylor tweeted to Musk. “Other firms on the S&P 500 would follow your lead & in time it would grow to become a $1 trillion favor.”
“Are such large transactions even possible?” Musk replied to Saylor.
“Yes. I have purchased over $1.3 billion in #BTC in past months & would be happy to share my playbook with you offline....,” Saylor replied.
However, Musk later seemed to let on that he was not serious about his interest in Bitcoin. Several hours after the original 'safe word' tweet, Musk tweeted, “just Kidding, who needs a safe word anyway.”
After his conversation with Saylor, Finance Magnates reported that Musk went on to criticize BTC and said that it was "almost as bs as fiat money." Previously, in 2019, Musk shut down rumors about Tesla getting involved in Bitcoin.
“Elon Is Singlehandedly Going to Send Bitcoin to $25k.”
Even though Musk was apparently joking about any serious interest in Bitcoin, Crypto Twitter has been abuzz with the possibility of Tesla buying into BTC: “The internet will break if Elon Musk converts any of Tesla’s balance sheet into Bitcoin,” Tweeted investor and renowned Bitcoin advocate Anthony Pompliano. He later added that “there is 5% chance of it happening as of now.”
The internet will break if Elon Musk converts any of Tesla’s balance sheet into Bitcoin.
One of the Co-owners fo Arbitrage Ops, who operates on Twitter as @CryptoCharles_, wrote that “Elon is singlehandedly going to send Bitcoin to $25k lmao.”
Peter Schiff, renowned Bitcoin bear and Chief Executive of EuroPac bank, wrote on Twitter that “it seems like @elonmusk was only joking about exposing Tesla shareholders to Bitcoin. So I don't need to convince the board not to turn Tesla into a double bubble.”
It seems like @elonmusk was only joking about exposing Tesla shareholders to Bitcoin. So I don't need to convince the board not to turn Tesla into a double bubble. But I'm still willing to debate @michael_saylor on #Bitcoin verse #gold. Perhaps @joerogan is willing to moderate.
Bitcoin Could Be over $200k by 2025, but There Are Some Obstacles on the Way
With or without Elon Musk, though, many believe that Bitcoin is on its way up.
Zac Prince, Chief Executive of crypto lending company, BlockFi, recently told Finance Magnates that he foresees Bitcoin headed somewhere between “$50K and $100K” by the end of 2021. Additionally, he predicted that it will be less than six months before Bitcoin reaches above $25,000.
Moreover, there are other factors to consider, including Bitcoin’s usability. Alex Mashinsky, who believes that BTC will end 2021 somewhere between $30K and $40K, told Finance Magnates that Bitcoin’s growth can only be sustained if it is backed by mass adoption.
“We need mass adoption for sustainable growth in crypto, which means at least 500 million new users who come for store of value and yield,” he told Finance Magnates.
If that can happen, then anything is possible: when asked what BTC’s price outlook for 2025 is, Mashinsky said that while “it is hard to predict,” Bitcoin “should be over $200k by then.”
Within several days of passing the $20,000 milestone, the price of Bitcoin already managed to briefly pass over $24,000 several times. Is $25,000 next? Or is BTC due for a correction?
At press time, it certainly seems as though the latter may be true. Within the last 24 hours, Bitcoin had fallen more than three percent, seemingly on the way down from its latest move over $24,000.
Could the correction move further? It’s certainly possible. After all, with such explosive price growth in BTC, corrections are almost a certainty.
Alex Mashinsky, Chief Executive and Founder of crypto lending company, Celsius, previously told Finance Magnates that “we will see $16k before we see $26k.”
”Bitcoin Is My Safe Word”
However, Bitcoin could still have a ways to go on its upward journey before a meaningful correction takes place, and it could have a lot to do with Tesla Founder, Elon Musk.
“Bitcoin is my safe word,” Musk tweeted on Sunday.
The same day, Reuters reported that in a Twitter exchange, Musk spoke with Michael Saylor, Chief Executive Officer of MicroStrategy, about the possibility of converting 'large transactions' of Tesla’s balance sheet into Bitcoin. MicroStrategy recently announced that it had invested a total of $1.1 billion into Bitcoin.
Yo! MicroStrategy's $425,000,000 (38,250BTC) #Bitcoin fund is now worth $879,313,950 +106.90% | Current BTC price: $22,989
Share price was $118.22, now $301.2 which is +154.78% since Bitcoin capital allocation strategy announcement on 08-Jul-20
— MicroStrategy Bitcoin fund tracker bot (@MStratBTCValue) December 19, 2020
“If you want to do your shareholders a $100 billion favor, convert the $TSLA balance sheet from USD to #BTC,” Saylor tweeted to Musk. “Other firms on the S&P 500 would follow your lead & in time it would grow to become a $1 trillion favor.”
“Are such large transactions even possible?” Musk replied to Saylor.
“Yes. I have purchased over $1.3 billion in #BTC in past months & would be happy to share my playbook with you offline....,” Saylor replied.
However, Musk later seemed to let on that he was not serious about his interest in Bitcoin. Several hours after the original 'safe word' tweet, Musk tweeted, “just Kidding, who needs a safe word anyway.”
After his conversation with Saylor, Finance Magnates reported that Musk went on to criticize BTC and said that it was "almost as bs as fiat money." Previously, in 2019, Musk shut down rumors about Tesla getting involved in Bitcoin.
“Elon Is Singlehandedly Going to Send Bitcoin to $25k.”
Even though Musk was apparently joking about any serious interest in Bitcoin, Crypto Twitter has been abuzz with the possibility of Tesla buying into BTC: “The internet will break if Elon Musk converts any of Tesla’s balance sheet into Bitcoin,” Tweeted investor and renowned Bitcoin advocate Anthony Pompliano. He later added that “there is 5% chance of it happening as of now.”
The internet will break if Elon Musk converts any of Tesla’s balance sheet into Bitcoin.
One of the Co-owners fo Arbitrage Ops, who operates on Twitter as @CryptoCharles_, wrote that “Elon is singlehandedly going to send Bitcoin to $25k lmao.”
Peter Schiff, renowned Bitcoin bear and Chief Executive of EuroPac bank, wrote on Twitter that “it seems like @elonmusk was only joking about exposing Tesla shareholders to Bitcoin. So I don't need to convince the board not to turn Tesla into a double bubble.”
It seems like @elonmusk was only joking about exposing Tesla shareholders to Bitcoin. So I don't need to convince the board not to turn Tesla into a double bubble. But I'm still willing to debate @michael_saylor on #Bitcoin verse #gold. Perhaps @joerogan is willing to moderate.
Bitcoin Could Be over $200k by 2025, but There Are Some Obstacles on the Way
With or without Elon Musk, though, many believe that Bitcoin is on its way up.
Zac Prince, Chief Executive of crypto lending company, BlockFi, recently told Finance Magnates that he foresees Bitcoin headed somewhere between “$50K and $100K” by the end of 2021. Additionally, he predicted that it will be less than six months before Bitcoin reaches above $25,000.
Moreover, there are other factors to consider, including Bitcoin’s usability. Alex Mashinsky, who believes that BTC will end 2021 somewhere between $30K and $40K, told Finance Magnates that Bitcoin’s growth can only be sustained if it is backed by mass adoption.
“We need mass adoption for sustainable growth in crypto, which means at least 500 million new users who come for store of value and yield,” he told Finance Magnates.
If that can happen, then anything is possible: when asked what BTC’s price outlook for 2025 is, Mashinsky said that while “it is hard to predict,” Bitcoin “should be over $200k by then.”
Rachel is a self-taught crypto geek and a passionate writer. She believes in the power that the written word has to educate, connect and empower individuals to make positive and powerful financial choices. She is the Podcast Host and a Cryptocurrency Editor at Finance Magnates.
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Join 3500+ Attendees at FMAS:24 | Africa's Premium Financial Event
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Join 3500+ Attendees at FMAS:24 | Africa's Premium Financial Event
Join 3500+ Attendees at FMAS:24 | Africa's Premium Financial Event
Join 3500+ Attendees at FMAS:24 | Africa's Premium Financial Event
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#fmas #fmas24 #fmevents #networking #finance #africa
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Looking to expand your network in #Africa? Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
Register now to secure your spot: https://bit.ly/3JbUpCK
#fmas #fmas24 #fmevents #networking #finance #africa
📣 Stay updated with the latest in finance and trading!
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Join 3500+ Attendees at FMAS:24 - Africa's Premium Financial Event
Join 3500+ Attendees at FMAS:24 - Africa's Premium Financial Event
Join 3500+ Attendees at FMAS:24 - Africa's Premium Financial Event
Join 3500+ Attendees at FMAS:24 - Africa's Premium Financial Event
Join 3500+ Attendees at FMAS:24 - Africa's Premium Financial Event
Join 3500+ Attendees at FMAS:24 - Africa's Premium Financial Event
Looking to expand your network in #Africa?
Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
Register now to secure your spot: https://bit.ly/3JbUpCK
#fmas #fmas24 #fmevents #networking #finance #africa
Looking to expand your network in #Africa?
Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
Register now to secure your spot: https://bit.ly/3JbUpCK
#fmas #fmas24 #fmevents #networking #finance #africa
Looking to expand your network in #Africa?
Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
Register now to secure your spot: https://bit.ly/3JbUpCK
#fmas #fmas24 #fmevents #networking #finance #africa
Looking to expand your network in #Africa?
Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
Register now to secure your spot: https://bit.ly/3JbUpCK
#fmas #fmas24 #fmevents #networking #finance #africa
Looking to expand your network in #Africa?
Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
Register now to secure your spot: https://bit.ly/3JbUpCK
#fmas #fmas24 #fmevents #networking #finance #africa
Looking to expand your network in #Africa?
Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
Register now to secure your spot: https://bit.ly/3JbUpCK
#fmas #fmas24 #fmevents #networking #finance #africa
Where the Prop Trading Industry Goes from Here | Finance Magnates Podcast
Where the Prop Trading Industry Goes from Here | Finance Magnates Podcast
Where the Prop Trading Industry Goes from Here | Finance Magnates Podcast
Where the Prop Trading Industry Goes from Here | Finance Magnates Podcast
Where the Prop Trading Industry Goes from Here | Finance Magnates Podcast
Where the Prop Trading Industry Goes from Here | Finance Magnates Podcast
Explore the tumultuous world of prop trading in this Finance Magnates podcast episode, featuring insights from Head of Axi Select, Greg Rubin.
We're discussing the challenges and shifts caused by MetaQuotes' pivotal decisions affecting MT4 and MT5 users, and how Axi Select offers a unique, realistic path to professional trading, steering clear of traditional prop firm pitfalls.
Tune in for expert analysis on the future of trading and innovative funding models.
The Axi Select programme is only available to clients of AxiTrader Limited. CFDs carry a high risk of investment loss. In our dealings with you, we will act as a principal counterparty to all of your positions. This content is not available for AU, NZ, EU and UK residents. For more information, refer to our Terms of Service. Standard trading fees apply.
This content is provided solely for general informational purposes and should not be construed as financial product advice or an investment recommendation. It has been prepared without considering your personal circumstances.
📣 Stay updated with the latest in finance and trading!
Follow Finance Magnates for news, insights, and event updates across our social media platforms. Connect with us today:
🔗 LinkedIn: https://www.linkedin.com/company/financemagnates/
👍 Facebook: https://www.facebook.com/financemagnates/
📸 Instagram: https://www.instagram.com/financemagnates_official
🐦 X (Twitter): https://twitter.com/financemagnates/
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▶️ Telegram: https://t.me/financemagnatesnews
Don't miss out on our latest videos, interviews, and event coverage.
🔔 Subscribe to our YouTube channel for more!🔔
Explore the tumultuous world of prop trading in this Finance Magnates podcast episode, featuring insights from Head of Axi Select, Greg Rubin.
We're discussing the challenges and shifts caused by MetaQuotes' pivotal decisions affecting MT4 and MT5 users, and how Axi Select offers a unique, realistic path to professional trading, steering clear of traditional prop firm pitfalls.
Tune in for expert analysis on the future of trading and innovative funding models.
The Axi Select programme is only available to clients of AxiTrader Limited. CFDs carry a high risk of investment loss. In our dealings with you, we will act as a principal counterparty to all of your positions. This content is not available for AU, NZ, EU and UK residents. For more information, refer to our Terms of Service. Standard trading fees apply.
This content is provided solely for general informational purposes and should not be construed as financial product advice or an investment recommendation. It has been prepared without considering your personal circumstances.
📣 Stay updated with the latest in finance and trading!
Follow Finance Magnates for news, insights, and event updates across our social media platforms. Connect with us today:
🔗 LinkedIn: https://www.linkedin.com/company/financemagnates/
👍 Facebook: https://www.facebook.com/financemagnates/
📸 Instagram: https://www.instagram.com/financemagnates_official
🐦 X (Twitter): https://twitter.com/financemagnates/
📡 RSS Feed: https://www.financemagnates.com/feed/
▶️ Telegram: https://t.me/financemagnatesnews
Don't miss out on our latest videos, interviews, and event coverage.
🔔 Subscribe to our YouTube channel for more!🔔
Explore the tumultuous world of prop trading in this Finance Magnates podcast episode, featuring insights from Head of Axi Select, Greg Rubin.
We're discussing the challenges and shifts caused by MetaQuotes' pivotal decisions affecting MT4 and MT5 users, and how Axi Select offers a unique, realistic path to professional trading, steering clear of traditional prop firm pitfalls.
Tune in for expert analysis on the future of trading and innovative funding models.
The Axi Select programme is only available to clients of AxiTrader Limited. CFDs carry a high risk of investment loss. In our dealings with you, we will act as a principal counterparty to all of your positions. This content is not available for AU, NZ, EU and UK residents. For more information, refer to our Terms of Service. Standard trading fees apply.
This content is provided solely for general informational purposes and should not be construed as financial product advice or an investment recommendation. It has been prepared without considering your personal circumstances.
📣 Stay updated with the latest in finance and trading!
Follow Finance Magnates for news, insights, and event updates across our social media platforms. Connect with us today:
🔗 LinkedIn: https://www.linkedin.com/company/financemagnates/
👍 Facebook: https://www.facebook.com/financemagnates/
📸 Instagram: https://www.instagram.com/financemagnates_official
🐦 X (Twitter): https://twitter.com/financemagnates/
📡 RSS Feed: https://www.financemagnates.com/feed/
▶️ Telegram: https://t.me/financemagnatesnews
Don't miss out on our latest videos, interviews, and event coverage.
🔔 Subscribe to our YouTube channel for more!🔔
Explore the tumultuous world of prop trading in this Finance Magnates podcast episode, featuring insights from Head of Axi Select, Greg Rubin.
We're discussing the challenges and shifts caused by MetaQuotes' pivotal decisions affecting MT4 and MT5 users, and how Axi Select offers a unique, realistic path to professional trading, steering clear of traditional prop firm pitfalls.
Tune in for expert analysis on the future of trading and innovative funding models.
The Axi Select programme is only available to clients of AxiTrader Limited. CFDs carry a high risk of investment loss. In our dealings with you, we will act as a principal counterparty to all of your positions. This content is not available for AU, NZ, EU and UK residents. For more information, refer to our Terms of Service. Standard trading fees apply.
This content is provided solely for general informational purposes and should not be construed as financial product advice or an investment recommendation. It has been prepared without considering your personal circumstances.
📣 Stay updated with the latest in finance and trading!
Follow Finance Magnates for news, insights, and event updates across our social media platforms. Connect with us today:
🔗 LinkedIn: https://www.linkedin.com/company/financemagnates/
👍 Facebook: https://www.facebook.com/financemagnates/
📸 Instagram: https://www.instagram.com/financemagnates_official
🐦 X (Twitter): https://twitter.com/financemagnates/
📡 RSS Feed: https://www.financemagnates.com/feed/
▶️ Telegram: https://t.me/financemagnatesnews
Don't miss out on our latest videos, interviews, and event coverage.
🔔 Subscribe to our YouTube channel for more!🔔
Explore the tumultuous world of prop trading in this Finance Magnates podcast episode, featuring insights from Head of Axi Select, Greg Rubin.
We're discussing the challenges and shifts caused by MetaQuotes' pivotal decisions affecting MT4 and MT5 users, and how Axi Select offers a unique, realistic path to professional trading, steering clear of traditional prop firm pitfalls.
Tune in for expert analysis on the future of trading and innovative funding models.
The Axi Select programme is only available to clients of AxiTrader Limited. CFDs carry a high risk of investment loss. In our dealings with you, we will act as a principal counterparty to all of your positions. This content is not available for AU, NZ, EU and UK residents. For more information, refer to our Terms of Service. Standard trading fees apply.
This content is provided solely for general informational purposes and should not be construed as financial product advice or an investment recommendation. It has been prepared without considering your personal circumstances.
📣 Stay updated with the latest in finance and trading!
Follow Finance Magnates for news, insights, and event updates across our social media platforms. Connect with us today:
🔗 LinkedIn: https://www.linkedin.com/company/financemagnates/
👍 Facebook: https://www.facebook.com/financemagnates/
📸 Instagram: https://www.instagram.com/financemagnates_official
🐦 X (Twitter): https://twitter.com/financemagnates/
📡 RSS Feed: https://www.financemagnates.com/feed/
▶️ Telegram: https://t.me/financemagnatesnews
Don't miss out on our latest videos, interviews, and event coverage.
🔔 Subscribe to our YouTube channel for more!🔔
Explore the tumultuous world of prop trading in this Finance Magnates podcast episode, featuring insights from Head of Axi Select, Greg Rubin.
We're discussing the challenges and shifts caused by MetaQuotes' pivotal decisions affecting MT4 and MT5 users, and how Axi Select offers a unique, realistic path to professional trading, steering clear of traditional prop firm pitfalls.
Tune in for expert analysis on the future of trading and innovative funding models.
The Axi Select programme is only available to clients of AxiTrader Limited. CFDs carry a high risk of investment loss. In our dealings with you, we will act as a principal counterparty to all of your positions. This content is not available for AU, NZ, EU and UK residents. For more information, refer to our Terms of Service. Standard trading fees apply.
This content is provided solely for general informational purposes and should not be construed as financial product advice or an investment recommendation. It has been prepared without considering your personal circumstances.
📣 Stay updated with the latest in finance and trading!
Follow Finance Magnates for news, insights, and event updates across our social media platforms. Connect with us today:
🔗 LinkedIn: https://www.linkedin.com/company/financemagnates/
👍 Facebook: https://www.facebook.com/financemagnates/
📸 Instagram: https://www.instagram.com/financemagnates_official
🐦 X (Twitter): https://twitter.com/financemagnates/
📡 RSS Feed: https://www.financemagnates.com/feed/
▶️ Telegram: https://t.me/financemagnatesnews
Don't miss out on our latest videos, interviews, and event coverage.
🔔 Subscribe to our YouTube channel for more!🔔