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Elon Musk Reveals SpaceX Owns Bitcoin, He Personally Owns BTC, Ethereum, Dogecoin – ‘I Can Pump But I Don’t Dump’ – Featured Bitcoin News

SpaceX and Tesla CEO Elon Musk has revealed that he personally owns Bitcoin, Ethereum and Dogecoin. Meanwhile, his companies, SpaceX and Tesla, own bitcoin. He also noted that bitcoin’s energy use is “shifting heavily toward renewable energy,” and that Tesla may resume accepting the cryptocurrency after more diligence.

Elon’s Cryptocurrencies: Bitcoin, Ethereum, Dogecoin

The “B Word” bitcoin event on Wednesday saw a live discussion with Tesla and SpaceX CEO Elon Musk, Square and Twitter CEO Jack Dorsey, and Arch Invest CEO Kathy Wood. The discussion was moderated by Steve Lee, Head of Square Crypto.

In response to the question of what influenced his view on bitcoin, Musk began by outlining the benefits of the cryptocurrency. Tesla’s TechnoKing, who wore a money T-shirt during the live discussion, said “there’s a lot of potential.”

“I’m not an investor,” Musk insisted, adding that the only significant publicly traded stocks he owns are Tesla and SpaceX stocks. He continued:

Also I have bitcoin. Tesla owns bitcoin. SpaceX owns bitcoin… and I personally own a bit of ethereum and dogecoin.

“In general, I am a supporter of bitcoin,” Musk confirmed, emphasizing that “the bitcoins I own are worth far more than Ethereum or Doge.”

Pointing out that he doesn’t believe in selling after helping boost prices, he said:

If the price of bitcoin goes down, I lose money… I can pump but I don’t dump… I want to see bitcoin succeed.

Turning to the topic of Tesla halting bitcoin acceptance, Musk explained that the suspension was temporary. He confirmed: “We are not selling any bitcoin, nor am I selling it personally, nor is SpaceX selling any bitcoins.”

Regarding bitcoin’s energy use, Musk acknowledged: “It looks like bitcoin is shifting heavily toward renewable energy and a bunch of heavy-duty coal plants being used … have been shut down. , especially in China.”

“I’d like to do a little more diligence to confirm that the percentage of renewable energy use is likely to be 50% or more and there is a tendency for that number to increase,” he adds, elaborating:

If so, Tesla will resume accepting bitcoin.

What do you think of Elon Musk’s comments? Let us know in the comments section below.

image credit: Shutterstock, Pixabay, WikiCommons

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