Spacex and Tesla CEO Elon Musk revealed that he personally owns Bitcoin, Ethereum and Dogecoin. At the same time, his companies Spacex and Tesla own Bitcoin. He also stated that Bitcoin’s energy use is “turning more to renewable energy” and Tesla may resume accepting this cryptocurrency after he conducts more due diligence.
Elon’s cryptocurrencies: Bitcoin, Ethereum, Dogecoin
The Bitcoin event “B Word” held on Wednesday had live discussions with Tesla and SpaceX CEO Elon Musk, Square and Twitter CEO Jack Dorsey, and Ark Investment CEO Casey Wood. The discussion was moderated by Steve Lee, the principal of Square Crypto.
In answering questions that influenced his views on Bitcoin, Musk first outlined the benefits of cryptocurrency. Tesla’s Technoking wore an evolutionary version of the money T-shirt during the live discussion, and then said: “It has a lot of potential.”
Musk emphasized that “I am not an investor” and he said that the only important publicly traded stocks he owns are Tesla and Spacex stocks. He continued:
Other than that, I do own Bitcoin. Tesla owns Bitcoin. Spacex owns Bitcoin…I personally own some Ethereum and Dogecoin.
Musk affirmed, “In general, I am a supporter of Bitcoin” and emphasized, “The Bitcoin I own is worth more than Ethereum or the Governor.”
Expressing that he does not believe in selling after helping to raise prices, he believes:
If the price of Bitcoin falls, I will lose money…I may take a margin, but I will not sell it…I hope to see Bitcoin succeed.
Speaking of Tesla’s stop accepting Bitcoin, Musk explained that the suspension is temporary. He confirmed: “We do not sell any bitcoins, nor do I personally sell any bitcoins. SpaceX does not sell any bitcoins either.”
Regarding the energy use of Bitcoin, Musk admitted: “It seems that Bitcoin is turning more to renewable energy, and some heavy coal-fired power plants that are in use…have been closed, especially in China.”
He added: “I want to do more due diligence to confirm that the percentage of renewable energy use is likely to reach or exceed 50%, and this number has an increasing trend,” detailed:
If so, Tesla is likely to resume accepting Bitcoin.
What do you think of Elon Musk’s comments? Let us know in the comments section below.
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