Bitcoin, DOGE and more: what Elon Musk said at cryptocurrency conference | finance

Elon Musk, CEO of Tesla and SpaceX, and Jack Dorsey, CEO of Twitter, had indicated for some time that they wanted to talk about bitcoin (BTC). The chat between the billionaires ended up happening at the conference “The B Word”, which took place this last Wednesday (21). During the event, Musk commented on the composition of his investments in digital assets, which include bitcoin (BTC), ether (ETH) and dogecoin (DOGE), and also raised some controversial topics.


Elon Musk (Image: Dan Taylor/Heisenberg Media)

Together with Ark Invest CEO Cathie Wood and moderator Steve Lee, the owner of Tesla participated in a conversation about cryptocurrencies that is possibly the most serious and revealing to date involving the tycoon

Musk has bitcoin, ether and dogecoin

During the panel, Musk publicly stated some conclusions about the digital currency market in general and about some specific assets. For the first time, he confirmed that he personally owns bitcoin, ether and dogecoin. But, their speeches also revealed another unpublished information: in addition to Tesla, SpaceX also has bitcoin.

SpaceX also has bitcoin

Musk’s electric car company made headlines around the world when it announced that it had purchased $1.5 billion in digital currency in January 2021. A small portion of that investment was converted into dollars in March, which Tesla did record its best quarterly financial result in its history, earning $100 million from the sale of 10% of its asset reserves.

Elon Musk has already suggested taking dogecoin to the Moon by publishing an illustration at the end of February (Image: Reproduction/Twitter)

Elon Musk has already suggested taking dogecoin to the Moon by publishing an illustration at the end of February (Image: Reproduction/Twitter)

SpaceX, on the other hand, had nothing to do with bitcoin until then. The space company had announced in May that it will carry out a fully dogecoin-funded mission to the Moon in 2022. In addition, Musk’s company has reached an agreement with Geometric Energy Corporation (GEC) so that all negotiations between the two companies will be settled. with the cryptocurrency meme. Thus, the revelation that SpaceX also has bitcoin is something important for the entire market.

Jack Dorsey is open to payments in cryptocurrencies

Musk didn’t just talk about himself and his business, he also asked Dorsey interesting questions. One of the questions addressed to the CEO of Twitter was whether his company would accept payments in cryptocurrencies from advertisers on the social network. He replied that he is “open to the idea” but that he is currently focusing on creating cost-effective initiatives within the platform without “having to rely on advertisers”.

Musk and “pump and dump” schemes?

Tesla’s CEO also spoke of some allegations that he was involved in “pump and dump” schemes, which artificially raise the price of a cryptocurrency and then sell it, causing a sharp drop in value. “I definitely don’t believe in raising the price and selling or anything like that,” Musk said.

Bitcoin nodes in space

Another impactful speech by Musk involves his Starlink satellite network. Apparently, the billionaire wants to place nodes on the bitcoin network in space. As much as the idea hasn’t leveraged in the past, SpaceX’s CEO demonstrated again that he didn’t give up on the idea.

Tesla can accept bitcoin again

Tesla invests $1.5 billion in bitcoin (Image: Chris Yarzab/Flickr)

Tesla invested $1.5 billion in bitcoin (Image: Chris Yarzab/Flickr)

In March 2021, Tesla hit the cryptocurrency market hard by announcing that it would no longer accept bitcoin payments out of concerns about the environmental impact of digital asset mining. But during the panel, Musk reaffirmed that his electric car company could backtrack on the decision once the cryptocurrency is proven to be operating using at least 50% renewable energy.

With information: Mashable

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