Elon Musk Reveals Spacex Owns Bitcoin, He Personally Owns BTC, Ethereum, Dogecoin — 'I Might Pump but I Don't Dump' – Featured Bitcoin News

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Bitcoin News 22 July, 2021 - 08:31am 9 views

Does Elon Musk own ethereum?

Musk also revealed he personally owns Ethereum, sending the price of the Bitcoin rival past $2,000, as well as Dogecoin, the meme cryptocurrency he has taken a particular interest in in recent months. ForbesElon Musk Still A Bitcoin ‘Supporter’: ‘I Own Bitcoin, Tesla Owns Bitcoin, SpaceX Owns Bitcoin’

by Kevin Helms

The Bitcoin event “B Word,” which took place Wednesday, featured a live discussion with Tesla and SpaceX CEO Elon musk, Square and Twitter CEO Jack Dorsey, and Ark Invest CEO Cathie Wood. The discussion was moderated by Steve Lee, head of Square Crypto.

Responding to the question of what influenced his view on bitcoin, Musk began by outlining the benefits of the cryptocurrency. Tesla’s Technoking, who wore an evolution of money t-shirt during the live discussion, then said, “It’s got a lot of potential.”

Emphasizing, “I’m not an investor,” Musk said that the only significant publicly traded stocks he owns are the Tesla and Spacex stocks. He continued:

Apart from that, I do own bitcoin. Tesla owns bitcoin. Spacex owns bitcoin … And I personally own a bit of ethereum and dogecoin.

Musk affirmed, “In general, I am a supporter of bitcoin,” emphasizing, “The bitcoin I own is worth a lot more than ethereum or doge.”

Indicating that he doesn’t believe in selling after helping to boost prices, he opined:

If the price of bitcoin goes down, I lose money … I might pump but I don’t dump … I would like to see bitcoin succeed.

Turning to the subject of Tesla halting acceptance of bitcoin, Musk explained that the suspension was temporary. He confirmed: “We are not selling any bitcoin, nor am I selling it personally, nor is Spacex selling any bitcoin.”

Regarding Bitcoin’s energy usage, Musk conceded: “It looks like Bitcoin is shifting a lot more toward renewables and a bunch of the heavy-duty coal plants that were being used … have been shut down, especially in China.”

He added, “I want to do a little more due diligence to confirm that the percentage of renewable energy usage is most likely at or above 50% and that there is a trend toward increasing that number,” elaborating:

If so, Tesla will most likely resume accepting bitcoin.

Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.

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Ethereum price rises after Elon Musk confirms he owns the cryptocurrency

CNBC 22 July, 2021 - 12:02pm

The price of ethereum rose Wednesday afternoon after Tesla and SpaceX CEO Elon Musk said he owns the cryptocurrency at The B Word conference, an event hosted by the Crypto Council for Innovation.

Ethereum, which was already rallying on the day, touched its high of the session after Musk's mention. It was last up more than 12% and near the highs of the day.

Musk also repeated his support for cryptocurrency in general, despite potential environmental risks, saying, "One thing you do need to watch out for with crypto, especially bitcoin, using proof of work, using energy that's a bit too much and not necessarily good for the environment."

As bitcoin mining is increasingly powered by renewable energy, Musk said, Tesla will likely move to accept bitcoin for transactions once again.

Musk also said that at this time, the only publicly traded stock he owns is Tesla's, and that he personally owns some bitcoin, dogecoin and ethereum. "The only significant thing I own outside of Tesla is SpaceX," he noted, having helped create both companies.

He also said he has been holding his bitcoin long term.

"If the price of bitcoin goes down I lose money. I might pump but I don't dump," Musk said. "I definitely do not believe in getting the price high and selling or anything like that. I would like to see bitcoin succeed."

Musk also confirmed that both Tesla and SpaceX own bitcoin, and no other cryptocurrency at this time.

The B Word conference was established to "demystify," "de-stigmatize" and "correct the mainstream narrative" around the cryptocurrency bitcoin and promote its institutional acceptance and use.

Musk spoke on a panel alongside Jack Dorsey, CEO of payments company Square and Musk's favorite social media platform Twitter, along with Ark Invest founder and CEO Cathie Wood, who answered questions from moderator and Square Crypto lead Steve Lee.

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