MicroStrategy CEO Michael Saylor recommended Elon Musk to use the proceeds from the sale of his Tesla shares to invest them in Bitcoin.

Michael Saylor recommends Elon Musk to sell part of his Tesla shares and invest in Bitcoin

Saylor’s comments came in response to a survey created by Musk through his Twitter account, where he asked his community if he should sell 10% of his shares in Tesla precisely to close roads to tax evasion. His followers spoke out and agreed with his proposal.

Faced with these results, Saylor wrote:

“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.”

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

Read more:

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Musk’s proposal came about due to the fact that he had to pay taxes and does not receive any other form of remuneration, so this would be a good way to generate capital to assume his tax obligations:

“Note, I do not take a cash salary or bonus from anywhere. I only have stock, thus the only way for me to pay taxes personally is to sell stock.”

Note, I do not take a cash salary or bonus from anywhere. I only have stock, thus the only way for me to pay taxes personally is to sell stock.

— Elon Musk (@elonmusk) November 6, 2021

Saylor’s recommendation comes at an especially good time for Bitcoin, as the digital currency is trading above $ 67,500, capitalizing on 7.38% gains in the last week.