Spacex and Tesla CEO Elon Musk has announced that he personally owns Bitcoin, Ethereum and Dogecoin. His companies Spacex and Tesla now own Bitcoin. He also said Bitcoin’s energy usage is “shifting a lot more towards renewable energy,” and Tesla is likely to accept the cryptocurrency again after doing more due diligence.
Elon’s cryptocurrencies: Bitcoin, Ethereum, Dogecoin
The Bitcoin “B Word” event held on Wednesday featured a live discussion with Elon Musk, CEO of Tesla and SpaceX, Jack Dorsey, CEO of Square and Twitter, and Cathie Wood, CEO of Ark Invest. The discussion was moderated by Steve Lee, Head of Square Crypto.
In response to the question of what influenced his view of Bitcoin, Musk began by outlining the benefits of cryptocurrency. Tesla’s technoking, who wore a t-shirt of the evolution of money during the live discussion, then said, “It has a lot of potential.”
He emphasized, “I’m not an investor,” Musk said that the only significant publicly traded stocks he owns are Tesla and Spacex stocks. He continued:
Other than that, I own Bitcoin. Tesla owns Bitcoin. Spacex owns Bitcoin … And personally I own a little bit of Ethereum and Dogecoin.
Musk affirmed, “In general, I am a proponent of Bitcoin” and emphasized, “The Bitcoin I own is worth a lot more than Ethereum or Doge.”
He said he doesn’t believe in selling after helping raise prices:
If the Bitcoin price goes down, I’ll lose money … I could pump, but I won’t give up … I’d love to see Bitcoin do well.
On the subject of Tesla stopping accepting Bitcoin, Musk stated that the suspension was temporary. He confirmed: “We do not sell Bitcoin, nor do I sell them personally, nor does Spacex sell Bitcoin.”
Regarding Bitcoin’s energy consumption, Musk admitted, “It looks like Bitcoin is shifting a lot more towards renewable energies and a number of the heavy coal-fired power plants that were in use … have been closed, especially in China.”
He added, “I would like to take a little more care to confirm that the share of renewables is most likely at or above 50% and that there is a trend to increase that number,” he explains:
If so, Tesla will most likely accept Bitcoin again.
What do you think of Elon Musk’s comments? Let us know in the comment section below.
Photo credits: Shutterstock, Pixabay, Wiki Commons
Disclaimer of liability: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement for any product, service, or company. Bitcoin.com does not provide investment, tax, legal or accounting advice. Neither the company nor the author are directly or indirectly responsible for any damage or loss caused or allegedly caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.