Elon Musk reveals that he holds ether and Dogecoin alongside Bitcoin
Elon Musk reveals that he holds ether and Dogecoin alongside Bitcoin
- Tesla will accept Bitcoin payments as soon as 50 percent of Bitcoin mining are switched to renewable energies.
- Apart from Tesla, Elon Musks SpaceX also keeps BTC independent.
On Wednesday, July 21, Tesla CEO and billionaire Elon Musk admitted his investments in Ethereum (ETH) and Dogecoin (Doge) alongside Bitcoin (BTC). The tech billionaire spoke on a Bitcoin-focused initiative-the B-Word conference-together with Jack Dorsey from Twitter and Cathie Wood by Ark Invest.
Elon Musk has received a lot of criticism because he manipulated the cryptoma market through his tweets. In addition, his tweets often cause wild fluctuations in crypto prices. Clarification of this matter, Musk said :
When the Bitcoin price drops, I lose money. I could pump, but I don't tilt. … [I] Definitely not think of getting the price up and selling or something similar. I want Bitcoin to be successful.
The car company Tesla by Elon Musk holds a large number of bitcoins in his balance sheet. Tesla recorded BTC in his balance sheet at the beginning of the first quarter of 2021. However, it has made a partial winning booking, but continued to keep the rest.
A large controversy flared up after Tesla hired the Bitcoin payments within three months of acceptance. The automotive giant quoted the CO2 footprint, which is contributed by the Bitcoin mining. Since then, however, the industry has taken important steps to introduce green energy solutions for BTC mining.
When he addressed this topic on Wednesday, Musk added:
It looks as if Bitcoin shifted much more towards renewable energies and a number of high-performance coal-fired power plants that were used ... were closed, especially in China.
I would like to exercise a little more care in order to confirm that the proportion of renewable energies is most likely with or over 50 % and that this trend tends to increase. If this is the case, Tesla will most likely accept Bitcoin again.
Elon Musk-SpaceX holds Bitcoin
In another major confession, Musk said that his space missile company SpaceX also keeps Bitcoin independent. This is another important proof of trust compared to the world's largest cryptocurrency. When asked why Musk was a fan of Dogecoin (Doge), he said that he likes dogs, memes and the fact that Dogecoin "does not take himself too seriously".
Elon Musk has expressed a lot about his support for the meme cryptocurrency. In fact, Musk's tireless support helped the Dogecoin investors to achieve a multiple return last year. Interestingly, Musk's support for Dogecoin goes far beyond.
As early as May 2021, Musk announced that SpaceX will start the "Doge 1 mission to the moon" in the first quarter of 2022. The company has also started to accept the cryptocurrency inspired by Meme as a means of payment.
Musk's positive comments on Bitcoin have contributed to the fact that the BTC has risen again via the $ 30,000 mark. At the time of printing, $ 32,041 and market capitalization of $ 598 billion. Bitcoin has to maintain the resistance of USD 32,000 to cement its upward movement.
On the other hand, the price of Ethereum (Eth) has also increased by 6 percent today and is approaching the $ 2000 mark, but is not able to break it. It will be interesting to see whether this is just a temporary movement or the dynamics ahead of us will be maintained.
Source: Crypto-news-flash.com
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