Hot news: Elon Musk on B Word: “I own Bitcoin, Ethereum and Dogecoin”

B Word

Key message: the B Word conference was a long-awaited event, crypto community was waiting for Elon Musk to express his true opinion on Bitcoin. He shared his views as well as information about his crypto portfolio. So now it is a verified information that Elon Musk holds Bitcoin (BTC), Ethereum (ETH) and Dogecoin (DOGE). 

B Word

Elon Musk, CEO of electric car maker Tesla and the head of space company SpaceX revealed at the B Word conference not only what he has in his personal portfolio, but that his companies own Bitcoin as well. However, he did not disclose how many BTC his SpaceX owns, although it is known that Tesla has invested $1.5 billion in BTC.

He also outlined that there is a good chance that Tesla will resume payments in BTC. This should happen after confirmation that Bitcoin mining will be from at least 50% renewable energy sources.

While Elon Musk holds Bitcoin, in his opinion Bitcoin cannot be a global system with its base layer. Musk further noted that a well-implemented second layer will help improve scalability and thus help Bitcoin to become a world currency. He also said that his company SpaceX plays a “fundamental role” in such a vision of a primary cryptocurrency, but did not say how.

Tip: This article could also be interesting for you: A survey on the sustainability of Bitcoin mining


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