Michael Saylor, the CEO who made a $425 million bet on Bitcoin earlier this twelvemonth, is offering to advise Elon Musk on how to get started investing in crypto.

According to a tweet posted today, Saylor proposed Musk convert Tesla'south balance sheet into Bitcoin (BTC) — a company whose market capitalization is currently valued at more than $658 billion, according to AssetDash. The MicroStrategy CEO implied a figure like Musk taking the lead on Bitcoin adoption could cause "other firms on the South&P 500" to follow.

Saylor then offered to "share [his] playbook" with the Tesla CEO "from ane rocket scientist to another," stating he had purchased $1.3 billion in Bitcoin this year. The MicroStrategy CEO holds dual degrees from MIT in aeronautics and astronautics, and scientific discipline, technology, and social club.

Musk, the CEO of Tesla and SpaceX, has an estimated net worth of more $153 billion but as of February 2019 only personally held 0.25 BTC. On the other hand, Saylor, whose net worth is 300 times less — roughly $500 1000000, according to some estimates — has led business concern intelligence business firm MicroStrategy to make i of the largest Bitcoin investments from a major financial institution this year. The CEO has seen the value of his initial $425 one thousand thousand BTC purchase this year more than double with the crypto asset's recent rally to $24,000.

Other crypto players were quick to respond to Musk's inquiry regarding potentially making such a large crypto purchase.

Sam Bankman-Fried, CEO of Hong Kong-based cryptocurrency derivatives commutation FTX, told the billionaire that he could execute such a programme "over the course of a week." Gemini co-founder Tyler Winklevoss also jumped into the chat, advising Musk that at that place was "plenty of liquidity to get that done."

Nonetheless, known gold bug Peter Schiff came out against the potential investment, referring to Bitcoin equally a pyramid scheme and advising Musk to "[not] leave Tesla shareholders property the same handbag as MicroStrategy shareholders."

Saylor has been outspoken in his back up of Bitcoin since announcing MicroStrategy made its first $250 meg Bitcoin buy as a reserve asset in August. He has commented that tech firms like Apple could run across a $100 billion gain in market capitalization by integrating Bitcoin into Apple Pay, building a secure crypto wallet into the iPhone, and buying the crypto avails with the tech giant's Treasury Reserves.

"Big Tech will need to integrate their products with Bitcoin to stay competitive," said Saylor on Friday. "All companies volition need to catechumen their treasuries to BTC to stay solvent."