What is Elon Musk Doing with Bitcoin? [its not what you think]
- If bitcoin is offered, then I will not refuse
- Tesla creator continues to hype for bitcoin
- Will Musk follow the lead of retail investors
Elon Musk does not mind accepting payment in bitcoins
Elon Musk is more and more interested in bitcoin
Tesla founder doesn’t mind accepting Bitcoin payments
Crypto Community Hopes Elon Musk To Join Constellation Of Retail Crypto Investors
The founder of Tesla and Space X, as well as one of the richest people in the world, Elon Musk, said that he does not mind accepting payments in bitcoin.
If bitcoin is offered, then I will not refuse
One of the richest inventors and businessmen in the world, Elon Musk, admitted that he does not mind accepting payment in bitcoin. He wrote about this on his Twitter page..
Responding to a tweet from Ben Mezrich, who wrote that he would never refuse to pay in bitcoin, Elon Musk indicated that he also does not mind receiving payments in cryptocurrency..
This message from Musk inspired Twitter users. Many supported the decision of the Tesla founder to use bitcoin, but there were also those who reminded about the environmental consequences of using cryptocurrency..
So the user under the nickname @RationalEtienne asked what Elon Musk thinks about the environmental consequences of using bitcoin, the production of which requires a significant amount of electricity, which means that the volume of carbon emitted into the atmosphere will only increase.
Tesla creator continues to hype on bitcoin
Recall that this is not the first tweet by Elon Musk about Bitcoin, which was published over the past month. Earlier, he asked Michael Saylor, CEO of MicroStrategy, if it is possible to convert large Tesla transactions into bitcoins. According to Sailor, by converting Tesla’s balance to Bitcoin, Musk will not only send the cryptocurrency market to new highs, but also make a profit..
In May 2020, Elon Musk admitted that he owns only 0.25 BTC and is not yet going to increase his investments in this asset, since he does not believe in the power of bitcoin. However, after the price of the cryptocurrency exceeded $ 38,000, he became interested in the possibility of using the cryptocurrency to increase capital..
Will Musk follow the lead of retail investors
If Elon Musk really decides to transfer part of his assets to bitcoin, then the value of the cryptocurrency will quickly rush to new highs. After all, retail investors were not behind the Bitcoin rally in December. This opinion was voiced by Blockstream CEO Adam Black.
“Three new all-time highs – $ 24.7 thousand, $ 24.8 thousand and $ 25 thousand – in just one day on December 25th. Do you think the institutions did it? Right for Christmas? No, on this holiday, only retail players were left with keyboards, “he wrote..
Recall that in 2020, several private investors at once transferred part of their assets to bitcoin. The most significant for the market were the investments of Paul Tudor Jones, a famous billionaire and financial guru who transferred 1-2% of his assets to Bitcoin. Jones’ example became contagious, and after him Bitcoin was bought by famous billionaire and investor Stan Druckenmiller.
Now Stan Druckenmiller is with Paul Tudor Jones, Jack Dorsey, Michael Sailor and others have invested some of their huge fortune in bitcoins.
In December 2020, Mexican businessman Ricardo Salinas Pliego, founder and president of the Salinas group, tweeted that he invested most of his liquid assets in bitcoins..
Such investor activity indicates that bitcoin is becoming an increasingly popular investment tool that can quickly generate profits..
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