Elon Musk’s Aug. 7 tweet set the investment world on fire. “Am considering taking Telsa private at $420. Funding secured,” he wrote.
Here’s The Oracle’s conspiracy theory: Tesla needs to raise cash. They can do it by taking the company private, then, reissuing shares on the world’s first mainstream, SEC-compliant blockchain-based stock exchange.
The timing is just too perfect. The day before Musk’s tweet, Overstock.com announced it was closing fundraising efforts for its tZero ICO. The company raised $134 million from accredited investors on one premise: creating the world’s first legitimate tokenized security platform. In other words, they’re aiming to make what amounts to a global, SEC-compliant blockchain-based stock exchange. We’re talking 24/7 trading from Detroit to Dubai.
In order to do that, though, they need companies to actually issue shares on their platform. In addition to tZero tokens, the Oracle imagines Overstock.com will trade on the platform. Who’ll be next? Probably a car-maker…
It won’t be Tesla first.
It’ll be Elio Motors. This spring, Overstock.com bought $2.5 million in Elio shares in a private placement. The move was a life-life for struggling Elio. On the same day Overstock.com announced its investment, Elio announced it was going to issue a digital token called Eliocoin.
“It is our fondest hope that, once issued and cleared for trading, ElioCoin may trade on the blockchain-based securities trading platform that is in development at tZERO,” Overstock.com CEO and founder Patrick M. Byrne said at the time.
The announcement certainly would have gotten the attention of Elon Musk (which is precisely what Overstock’s CEO Patrick Bryne wanted).
See, there are just too advantages to a potential Tesla Security Token Offering (STO) – especially when the company is starved for cash:
- An influx of that much-needed cash
- A perfect marriage of demographics: brilliant, young crypto fans, savvy institutional investors, a CEO who doesn’t shy away from doing anything that might have a huge impact on humanity
- The ability to generate enormous PR by becoming the world’s first credible STO
- The potential for a Hyperloop Coin? A Neuralink Coin? What about SpaceX?
It’s all speculation, but the writing is on the wall: STOs are coming. If there’s any CEO in the S&P 500 who can see that clearly, the Oracle would put his money on Elon. Both Tesla and Overstock have something big in the works, and it’s going to be a mindfu$k for Wall Street’s pork-bellied elites.