Michael Saylor says Bitcoin will protect ElonMusk’s Tesla against inflation

On Nov 7, 2021

The CEO of MicroStrategy suggested Elon Musk get into Bitcoin to protect Tesla against the increasing inflation.

Elon Musk, CEO of Tesla & SpaceX and also a supporter of the DogeCoin community. On 7 November, Elon Musk tweeted a poll to get suggestions from their Twitter followers, whether he should sell his 10% of Tesla’s shares or not.

Much is made lately of unrealized gains being a means of tax avoidance, so I propose selling 10% of my Tesla stock.

Do you support this?
— Elon Musk (@elonmusk) November 6, 2021

Elon also confirmed that they will follow the opinion of the poll. And probably, Elon will sell 10% soon because, at the time of writing this article, 60% of people supported Elon Musk to sell his 10% Tesla stock.

But here, Elon Musk shared his concern on the new tax system, which will impose a direct tax of 20% in hand cash over the gain through the Tesla stocks. But Elon doesn’t want to pay 20% tax in this way, so he is unable to decide whether he should sell or not.

After the tweet of Elon Musk, the Crypto Community started to suggest Elon to buy Bitcoin or crypto assets.

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Software firm MicroStrategy CEO Michael Saylor suggested Elon Musk to buy Bitcoin by selling his token to save the Tesla company against inflation and also it will help him to avoid paying high taxes.

If the goal is diversification, an alternate strategy to consider is converting the $TSLA balance sheet to a #Bitcoin Standard and purchasing $25 billion in $BTC. That would deliver diversification, inflation protection, & more upside for all investors in a tax efficient manner.
— Michael Saylor⚡️ (@saylor) November 6, 2021

This is not the first time, Micheal Saylor suggested Elon Musk to buy Bitcoin. Last December, Micheal suggested Elon switch Tesla’s back Currency USD by BTC.

Are such large transactions even possible?
— Elon Musk (@elonmusk) December 20, 2020

Elon Musk Bitcoin inclined

Elon Musk is already a bitcoin holder and also they gained huge profits through the Bitcoin holdings. Recently in a tweet, Elon Musk tweeted that he owns only DogeCoin, Ethereum & Bitcoin.

So there are huge chances that Elon may buy out of these three Crypto assets or may invest equally in all these three coins.