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E-car manufacturer moves up in S&P 500 – Musk with absurd ideas

The share of the electric car manufacturer Tesla is listed in the important US S&P 500 index from Monday. CEO Elon Musk meanwhile have other thoughts.

The electric car maker Tesla will be part of the prestigious S&P 500 share index from Monday, which includes the largest listed US companies and for many too Index funds (ETFs) plays an important role. The index operator S&P Dow Jones Indices announced in November that Tesla will be included from December 21st. One of the conditions for inclusion is profitability over several quarters.

Tesla shares experienced an extraordinary boom over the course of the year. In the meantime, despite the comparatively low production figures, Elon Musk’s company is worth more in terms of market value than its competitors General Motors, Ford, Toyota, Honda, Fiat Chrysler and Volkswagen combined. The upcoming inclusion in the S&P 500 had given the papers a further boost.

Musk plans to convert company assets into bitcoin

Tesla boss Elon Musk meanwhile has other thoughts in mind. Musk asked about the possibility of converting the company assets of the electric car manufacturer from dollars into Bitcoin, as an exchange between the electric car pioneer and Michael Saylor, CEO of the software manufacturer MicroStrategy, revealed on the short message service Twitter.

“If you want to do your shareholders a $ 100 billion favor, convert Tesla’s balance sheet from dollars to bitcoin,” Saylor suggested to the entrepreneur in a tweet. Musk would send a strong signal to companies in the S&P 500 that would follow suit.

When Musk asked whether transactions of this magnitude were even possible, Saylor replied that he had bought over $ 1.3 billion in Bitcoin in the past few months and offered Musk to reveal his investment strategy for the digital currency.

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