HomeScience & TechnologyElon Musk: "I invest in Bitcoin and I want to see it succeed"

Elon Musk: "I invest in Bitcoin and I want to see it succeed"

The founder of Tesla, Elon Musk, is one of the loudest "voices" in the world of cryptocurrencies. Uses often Twitter to publish various cryptobodies, while often causing significant changes in prices leading people in the area to question his true intentions. However, Musk clarified on the 21th of July that not only invests in Bitcoin and other cryptocurrencies, but also supports them.

Speaking at an event entitled The B Word - which aimed to "explain how institutions can embrace Bitcoin" - with Twitter and Square CEO Jack Dorsey, and its CEO Ark Invest, Cathie Wood, Musk said the only significant personal investments he has outside of his companies - Tesla and SpaceX - are in Bitcoin, Ethereum and Dogecoin. He added that both Tesla and SpaceX have Bitcoin.

Despite the recent turmoil in the world of cryptocurrencies, Musk said he was "a supporter of Bitcoin and the idea of ​​cryptocurrency in general."

Read also: Verified Twitter accounts in a cryptocurrency scam with the name of Elon Musk violated!

Elon Musk - Bitcoin
Elon Musk: "I invest in Bitcoin and I want to see it succeed"

The prices of many popular cryptocurrencies have been affected in recent months by Musk statements and actions.. In particular, the Dogecoin write down vertical fall in May, after Musk appeared on Saturday Night Live and featured it "hustle and bustle". That same month, Musk announced that Tesla would stop accepting Bitcoin as payment due to huge amount of energy used to extract it, causing fall in its price.

Eventually, however, Musk told the event that his financial success was due in part to the performance of such digital currencies. In particular, he stated the following: "If the price of Bitcoin goes down, I lose money. "I would like to see Bitcoin succeed."

Elon Musk Bitcoin
Elon Musk: "I invest in Bitcoin and I want to see it succeed"

See also: Ransom tracker shows how much money Bitcoin ransomware groups have received

Musk and Dorsey also looked at environmental concerns on Bitcoin and other cryptocurrencies, which they require huge amounts of energy to power the computers needed to "extract" them.

In In May, Tesla stopped trading in Bitcoin after Musk said he realized the cryptocurrency network could be based on carbon energy. However, Musk said the company is likely to start accepting payments in Bitcoin again, when about half of the power used to mine the currency comes from clean sources, such as solar and wind energy, something it has said in the past. Twitter.

Elon Musk
Elon Musk: "I invest in Bitcoin and I want to see it succeed"

Proposal: Bitcoin is recovering, "rising" above $ 31.000

On the other hand, Dorsey - whose company "Square" bought billions of Bitcoin and created an application for crypto developers - stressed the possibility of utilizing various forms of unused energy for cryptocurrency mining.

"Just imagine all the unused energy you waste every day, and you can get energy and turn it into a safe, healthy money system for the planet.", said Dorsey.

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