Musk says SpaceX holds bitcoin, Tesla ‘likely’ to resume accepting it

A popular cryptocurrency will be Wednesday after Elon Musk first disclosed that his private rocket company SpaceX owns Bitcoin and “probably” resumed Tesla accepting it as a payment for electric vehicles. Has risen to.

Musk is the CEO of Twitter and Payments Group Square and CEO of Ark Invest Cathie Wood at the panel of The B Word, an online conference hosted by the Cryptocurrency Council for Innovation. With Jack Dorsey, we outlined investing in cryptocurrencies.

Mr. Musk said he personally owned Bitcoin, Ethereum, and the more niche Dogecoin, but two of his companies, SpaceX and Tesla, are Bitcoin holders and remain the same.

“We don’t sell Bitcoin, and we don’t sell it personally,” he said. “I hope Bitcoin will succeed.”

Musk reiterates its commitment to digital tokens in response to critics accusing it of encouraging wild cryptocurrency price fluctuations and making a profit in a bold statement on Twitter with more than 58 million followers Was: “When the price of Bitcoin goes down, I lose money. I may pump, but I won’t throw it away,” he said.

Bitcoin rose more than 5% to $ 31,600 and Ethereum rose more than 7% to $ 1,900.

In the discussion on Wednesday, Musk, Dorsey and Woods also touched on the challenges associated with Bitcoin scaling and their environmental impact.

Bitcoin and other digital coins have seen a rapid rise from December to the beginning of the year, but many of these profits have recently disappeared as regulators surround the bohemian market.

Bitcoin soared in February after Mask revealed what Tesla had Cultivated $ 1.5 billion Putting the reserve into cryptocurrency, the company said it would accept payments in cryptocurrency for electric vehicles.But he Reversed the course A few months later, in May, I quoted an environmental issue regarding the mechanism used to validate Bitcoin transactions known as Bitcoin mining.

Bitcoin critics have criticized the use of fossil fuels as a source of energy-intensive currencies. However, Wednesday’s Mask recommended further utilization of hydro, geothermal, or nuclear energy in the future, and one day suggested using future “space heaters” to mine cryptocurrencies.

“Bitcoin seems to be shifting to renewable energy, especially in China, where many of the large coal-fired power plants used seem to have closed,” Musk said, saying Bitcoin mining energy usage. St. was reproducible.

“We tend to increase that number, and if so, Tesla will resume accepting Bitcoin,” he said.

With a tie-dye T-shirt and a long beard, Dorsey said his expectations for Bitcoin were “to create world peace.”Last week he Announcement Square was launching a platform for developers to create “decentralized finance” projects built on Bitcoin. This is a cryptocurrency-denominated complex financial product that eliminates traditional intermediaries.

Meanwhile, Woods urged companies to add Bitcoin to their balance sheets, arguing that Bitcoin could act as a “hedge against inflation.”

Musk says SpaceX holds bitcoin, Tesla ‘likely’ to resume accepting it Source link Musk says SpaceX holds bitcoin, Tesla ‘likely’ to resume accepting it

Related Articles

Back to top button