Musk admitted that his personal investment in cryptocurrencies and the news that Tesla may again receive payments in Bitcoin caused a series of cryptocurrencies to surge in price.
During the “B-Word” online event on July 21, Elon Musk discussed with Twitter CEO Jack Dorsey and Ark Invest CEO Cathie Wood about cryptocurrencies. The purpose of the event is to “clarify”, “remove the stigma” and “correct the mainstream narrative” surrounding Bitcoin, a cryptocurrency in order to promote institutional adoption and use of these coins. future.
One of the highlights of the event was that Elon Musk revealed that he personally owns Bitcoin, Dogecoin, and Ethereum. The South African-born billionaire said both Tesla and SpaceX own Bitcoin.
Musk admitted: “It is true that I pump the price of Bitcoin, but I will never dump it. If Bitcoin goes down, I will lose money. I promise not to push the price up to and sell or do anything like that. I want to see Bitcoin succeed.”
The Tesla CEO also repeated his support for cryptocurrencies in general. “Most likely the answer is that Tesla will continue to accept Bitcoin,” Musk said.
He previously announced that his electric car company would no longer accept payments in cryptocurrencies due to environmental concerns.
Now Musk says those worries are a bit excessive. “I would like to do a bit more due diligence to confirm that the percentage of renewable energy usage for Bitcoin mining is most likely above 50% and trending up. If so Tesla will continue to accept bitcoin.” Musk confirmed.
The news that Musk owns a series of cryptocurrencies and that Tesla may return to paying with Bitcoin has become a hot topic of discussion on social media.
On Twitter, thousands of users around the world retweeted the video Musk revealed he owns cryptocurrency. Many people question the Tesla CEO exactly how much he is investing, since when, even skeptical of the above information.
However, he did not give any response. This made the discussion even more heated.
On Weibo, China's largest social network, the keyword “Musk confirms ownership of Bitcoin, Dogecoin and Ethereum” quickly rose to the top of trending with nearly a million likes just after the time of posting.
Some consider this to be an optimistic signal for the cryptocurrency market. But there are also many people who are skeptical because Musk always has conflicting statements about cryptocurrencies.
According to CNBC, after Musk's announcement, the price of Ethereum increased by more than 12, which is a record intraday increase for this digital currency.
At the same time, the price of Bitcoin also increased by more than 8% to around 32,270 USD. Other cryptocurrencies in the market also showed signs of slight growth after the “B-Word” conference.
