Economy

“I am a bitcoin supporter”

"I am a bitcoin supporter"

Elon Musk, founder of SpaceX and CEO of Tesla Inc. , To the Axel Springer Awards ceremony in Berlin, Germany, on Tuesday, December 1, 2020.

Lisa Johanssen Kubitz | Bloomberg | Getty Images

Elon Musk It came out as a believer in bitcoin on Friday – and it’s now doubling in number.

Tesla billionaire chief last week He added the hashtag #bitcoin to his Twitter bio, In a move I helped briefly Raise the price of the cryptocurrency By up to 20%.

In a discussion on the popular audio app Clubhouse late Sunday, Musk confirmed that he is a supporter of Bitcoin.

“I gotta watch what I’m saying here because some of these things can really move the market,” Musk said. “Many of my friends tried to convince me to engage in Bitcoin for a long time.”

Musk said he once ate a slice of a “bitcoin cake” that a friend gave him in 2013, and that “it is clear that he should have at least bought some bitcoin eight years ago – he talked about being late to the party.”

Musk said, “I think at this point Bitcoin is a good thing, and I’m a bitcoin supporter.”

“I think Bitcoin is about to gain widespread acceptance by traditional financiers.”

Musk added that he does not have a “strong opinion” about other virtual currencies. He has tweeted about the meme-based cryptocurrency in the past and indicated in 2019 that it was the “preferred cryptocurrency”.

last week, Dogecoin rose as much as 800% Within 24 hours after Reddit users took a tweet from Musk that meant he was casting his support behind the token.

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On Sunday, Musk said, “Sometimes I joke about dogecoin, but it’s supposed to be just kidding.” “Dogecoin was made as a joke on cryptocurrencies.”

“But fate loves mockery,” he joked. “The most enjoyable result and the most ridiculous result is for Dogecoin to become the currency of the earth in the future.”

Cryptocurrency markets were mostly unaffected by Musk’s comments, as Bitcoin and Dogecoin fell slightly shortly after his speech. Dogecoin was still up 40% in the past 24 hours, after a Massive recession during the Weekend.

Bitcoin has more than quadrupled over the past year. It then reached an all-time high of around $ 42,000 at the start of 2021. Rising investors say the digital currency has gotten a boost from increased institutional interest and the perception that it is a gold-like safe-haven asset.

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