“Tesla and SpaceX affect Bitcoin, and I on Ethereum and Dogecoin” – Elon Musk
Tonight at the conference “The B Word” we watched the appearance of Elon Musk. He declassified all SpaceX investments in the global cryptocurrency – BTC. The detailed discussion “BTC – as a means to create economic opportunities” was held with the participation of CEO ARK Invest Cathie Wood and CEO Twitter Jack Dorsey.
Tomorrow at #TheBWord, @CathieDWood, @Jack, and @elonmusk weigh in on #Bitcoin as a tool for economic empowerment. Don’t miss this live discussion panel!— ARK Invest (@ARKInvest) July 20, 2021
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“I hold BTC, Tesla also owns a significant part of BTC,” said Elon Musk. And I own ETC and, of course, Doge. “
Elon Musk also spoke about cryptocurrencies in general, that he is a fan of BTC, although there is a huge minus – their huge electricity consumption.
“BTC is developing and with some functions it handles perfectly. Its practical value to the average user is not very high. But! BTC has tremendous potential, “Musk commented.
Tesla published information on the purchase of BTC for $1.5 billion in early 2021, and also told about the subsequent sale of part of such a large purchase. Another company, SpaceX, which is not so public, did not consider it necessary to provide such information to the press. What part of BTC is owned by SpaceX, Elon Musk does not specify.
In early May, 2021, the founder of Tesla announced the cessation of payment for BTC due to its negative impact on the world around it, which affected the price of cryptocurrency in the smallest direction. The comments of the founder of Tesla were as follows:
“If BTC loses in price, then I lose money. I can influence the pamphlet, but I do not dump!. “
He also confirmed information about the resumption of payment acceptance by Tesla.
“We do believe this is a positive trend and that there is a positive trend in the consumption of huge energy for BTC production. Perhaps this is due to a decrease in the cost of BTC. Since Tesla began to buy BTC, it has been consuming much more energy. We are not the company that will support this. Mining farms in China began to close, and BTC began to use renewable energy sources. The trend in the use of renewable energy sources is gaining momentum, and if this figure exceeds 50%, Tesla will resume accepting payments to BTC.
BTC reacted positively throughout the day, because the conference is “The B Word” ahead. Its rate in 12 hours grew by as much as 8%, taking a mark of $32 843 on the Binance cryptocurrency exchange. Altcoins also supported this trend. and Ethereum added as much as 14%, taking the mark of $2 000. Unfortunately, the take-off effect was short and BTC again went down to $31,900.
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