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Tesla CEO Elon Musk says he owns Bitcoin personally — and so does SpaceX.

Elon Musk did not specify his personal Bitcoin size or SpaceX size.


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Samuel Colm / Bloomberg News

Tesla Co., Ltd.

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Elon Musk, CEO, said Wednesday that he and his rocket company, SpaceX, own Bitcoin. Its impact on the environment..

Tesla disclosed a $ 1.5 billion investment in Bitcoin in February and shortly thereafter began accepting cryptocurrencies as vehicle payments. The company quickly reversed the course, but suspended its initiative in May. Mr. Musk expressed concern About the power source used to power Bitcoin mining.

Mr. Musk’s comment on Bitcoin Increases price volatility, Sometimes causes a sharp fluctuation in the value of cryptocurrencies. Mr. Musk said that because he owns Bitcoin personally, it will be economically affected if the price goes down.

“I might pump, but I don’t dump,” he said in a panel about Bitcoin. “I never believe in selling at a higher price.”

According to CoinDesk, Bitcoin prices rose temporarily during the panel, but then fell.

Musk is the size of his personal Bitcoin holdings and Space Exploration Technologies Corp, the official name for SpaceX. Did not specify the size of. Mr. Musk said he does not sell Bitcoin or SpaceX.

April Tesla said that I was selling a part of that bitcoin At the end of the first quarter, about $ 1.3 billion was held in the Treasury.

Billionaire CEO said he also owns Ethereum Dogecoin, Other cryptocurrencies, but their holdings are worth less than his Bitcoin stakes.

Mr. Musk also reiterated concerns about the energy consumed by Bitcoin mining, saying that Tesla is likely to re-accept cryptocurrencies if the process of generating digital currencies becomes fossil fuel-independent.

“I would like to pay a little more attention to make sure that renewable energy usage is likely to be above 50% and tends to increase,” he said.

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Appeared as “Mask, SpaceX Own Bitcoin” on the print version on July 22, 2021.

Tesla CEO Elon Musk says he owns Bitcoin personally — and so does SpaceX.

Source link Tesla CEO Elon Musk says he owns Bitcoin personally — and so does SpaceX.

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