Elon Musk, the Tesla CEO known for shaking up markets with bold moves and cryptic tweets, has the crypto world talking again. Robert Leshner, founder of Compound, half-jokingly suggested that Musk might be just two weeks away from buying $100 billion worth of Bitcoin.
With Musk’s influence and Tesla already holding some Bitcoin, this playful prediction has everyone wondering: Could Musk be about to set a new standard for corporate crypto investment?
Leshner’s comment that Musk could “tank” the U.S. dollar with a Bitcoin buy comes after Musk slammed a recent House tax bill. The bill is expected to add trillions to the federal deficit over the next decade, and Musk didn’t hold back in calling out what he sees as fiscal irresponsibility.
Leshner’s joke imagines Musk making a big move—putting billions into Bitcoin to hedge against a weakening dollar and the growing deficit.
Bitcoin has a fixed supply of 21 million coins, with about 19.87 million already circulating. A $100 billion purchase would seriously tighten supply on exchanges, likely pushing prices up as sellers ask for more.
Beyond price, Musk making such a move would boost confidence across the board, encouraging more investors and companies to jump on board. Tesla could lead the charge in pushing Bitcoin further into the mainstream.
Big names in crypto have shared their thoughts. Blockstream CEO Adam Back said Bitcoin is “a perfect fit” for Musk but doubts Musk will raise Tesla’s relatively small Bitcoin stake much. Back calls it “the smart money move,” but Musk’s cautious approach keeps everyone guessing.
Samson Mow jumped in on X, urging Musk to go “all in” on Bitcoin as Tesla shares dip. He also suggested SpaceX offer discounts for paying launchpads in Bitcoin – highlighting how crypto could play a bigger role in Musk’s businesses.
While Musk hasn’t confirmed any plans to make a huge Bitcoin purchase, Leshner’s bold joke has sparked plenty of speculation. If Musk does drop $100 billion into Bitcoin, it could shake confidence in the dollar even more, especially given the rising U.S. deficit concerns.
Now, all eyes are on Musk to see if he’ll make another game-changing move in the crypto space.
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