'I might pump but I don’t dump': Elon Musk says he plans to hold bitcoin long-term⁠—here's why that could be a good strategy

Business

CNBC 22 July, 2021 - 08:55pm 26 views

Does spacex own Bitcoin?

This article is in your queue. Tesla Inc. TSLA -0.92% Chief Executive Elon Musk said Wednesday that he and his rocket company, SpaceX, hold bitcoin, a cryptocurrency he generally supports despite having concerns about its environmental impacts. The Wall Street JournalTesla CEO Elon Musk Says He Personally Owns Bitcoin—and So Does SpaceX

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’

Read full article at CNBC

Batteries and bitcoin not nickel and dime for Musk

Financial Times 22 July, 2021 - 12:30pm

We use cookies for a number of reasons, such as keeping FT Sites reliable and secure, personalising content and ads, providing social media features and to analyse how our Sites are used.

This article is an on-site version of our #techFT newsletter. Sign up here to get the complete newsletter sent straight to your inbox every weekday

Bitcoin, which dipped below $30,000 earlier this week, is back above $32,000 today, after influential tech chiefs Elon Musk and Jack Dorsey voiced their support at a conference on Wednesday.

Musk disclosed for the first time that his private rocket company SpaceX holds bitcoin and that Tesla would “most likely” resume accepting it as payment for its electric cars.

The billionaire entrepreneur said he personally held bitcoin, ethereum and the more niche dogecoin, while two of his companies, SpaceX and Tesla, were bitcoin investors — and would remain that way. “We’re not selling any bitcoin, nor am I selling anything personally,” he said. “I would like to see bitcoin succeed.”

Musk may not be selling bitcoin, but he is certainly a big buyer of nickel, reports Henry Sanderson. Tesla has agreed to buy nickel for its batteries from BHP, the world’s largest miner, as it looks to lock up supplies of the metal not controlled by China. The deal is the third for nickel it has signed in the past eight months, following ones with Vale and the Trafigura-backed Goro mine. Musk has been seeking supplies of “sustainable” nickel and the metal is a key material for Tesla’s longer-range cars that require more powerful batteries.

In other electric car news, Mercedes has acquired Yasa, a British electric motor start-up. Spun out of Oxford university in 2009, Yasa manufactures next-generation electric motors for performance cars, and counts Ferrari and other supercar brands among its customers. Its products, known as axial flux motors, offer greater efficiency, and are smaller, than traditional electric drives.

Meanwhile, in Asia, Foxconn and Japan’s Nidec are in discussions to set up a Taiwan-based joint venture next year to build motors for electric vehicles, as the two Apple suppliers make an aggressive push into the market.

#techFT brings you news, comment and analysis on the big companies, technologies and issues shaping this fastest moving of sectors from specialists based around the world. Click here to get #techFT in your inbox.

The frenzied pace of start-up investment continues in Europe, with more venture capital deployed in the first half of this year than in the whole of 2020. That means VC firms are getting through their funds faster than ever; transatlantic investor Index Ventures this week announced two new funds totalling $2.9bn, just one year after raising its last set worth $2bn. 

Elsewhere, Sifted sat down for brunch with Daniel Dines, the founder of software sensation UiPath and Romania’s richest man; the interest in on-demand grocery delivery start-ups shows no sign of waning; and top executives at digital bank Monzo reveal that an IPO is on the cards.

OnePlus today launched the value-priced Nord 2 5G, with the Chinese company describing it as a comprehensive upgrade from the first Nord, “from camera and performance to charging and design”. It has a 50MP AI triple camera with an improved Sony sensor and optical image stabilisation (OIS). There is also an 8MP ultra-wide camera with a 119.7-degree field of view along with a 32MP selfie camera. The MediaTek processor offers 65 per cent faster CPU performance and 125 per cent better graphics performance than in the Nord of a year ago. Warp Charge 65 charging technology charges from 0 to 100 per cent in less than 35 minutes. The screen is a 6.43-inch fluid AMOLED display with a 90 Hz refresh rate. The phone is available for pre-order now with shipping beginning on Monday. It starts at £399 for a 128GB version. TechRadar has a first review.

#techAsia — Your guide to the billions being made and lost in the world of Asia Tech. Sign up here

#fintechFT — The latest on the most pressing issues in the tech sector. Sign up here

Get alerts on Technology sector when a new story is published

Old

Business Stories

Top Stores