Tesla, Inc. TSLA CEO Elon Musk's Twitter poll for getting recommendations regarding the potential sale of 10% of his stake in the company has elicited mixed reactions from his followers.
What Happened: The poll has a wide array of people responding, from high-profile names such as MicroStrategy Incorporated MSTR CEO Michael Saylor, Dogecoin DOGE/USD co-founder Billy Markus to even layman investors.
Saylor Recommends Bitcoin Buying: MicroStrategy's Saylor suggested Tesla could consider converting its balance to Bitcoin BTC/USD and purchase $25 billion in Bitcoin. This would deliver diversification, inflation protection and more upside for all investors in a tax-efficient manner, he added.
Markus, Wallace React: Popular YouTuber and Dogecoin bull Matt Wallace proposed that Musk goes big on Dogecoin
Going in big on Dogecoin with a lot of that money would make it a very popular decision :)
— Matt Wallace (@MattWallace888) November 6, 2021
Markus, in an apparent dig at the government, said a new proposal on Monday could allow only governments to hold money.
Related Link: Tesla's Surging Order Flow In China Prompts EV Maker To Halt 0% Down Payment Program
Most Critical Of Musk Leaving Decision to Twitterati: Not many were happy with Musk's decision to trust his Twitter followers over shareholders. Popular YouTuber Jimmy Donaldson, who goes by the twitter handle MrBeast, was amused with the idea of Twitter poll deciding the fate of $20 billion+ worth of stock.
This Twitter Poll decides the fate of $20,000,000,000+ of Tesla stock lol
— MrBeast (@MrBeast) November 6, 2021
One Twitter user called out Musk for manipulating the stock market with his fame and suggested that he instead does something prosocial with his wealth. Another asked Musk to pay his fair share of taxes, at least at an effective tax rate of 30%.
Musk, as he said in a threaded reply to his own tweet, does not take a cash salary or a bonus and all he is left with is his share of the high-flying Tesla stock. Since no tax is levied on unrealized gains, some of these billionaires do not attract taxation.
A Twitter user seemed to think the tweet was made condescendingly, and added that dumping of Tesla stock could potentially lead to a market crash.
HODLers Look To Buy The Dip: Some suggested the proposed stock sale by Musk could prove to be a boon for investors waiting for a better entry point.
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