Elon Musk took center stage at the ongoing The B Word conference to talk about a wide range of his cryptocurrency investments.
Musk holds Bitcoin, Ether and Doge
Elon Musk confirmed at the ongoing The B Word conference to reveal that both SpaceX and Tesla own Bitcoin. The revelation came as a surprise to some as Tesla was the only Musk’s company known to be involved in cryptocurrencies.
Musk stated that he is a big supporter of Bitcoin despite his recent criticism of the proof of work concepts. The billionaire admitted that the only stock he owns is Tesla. However, outside that, he holds three meaningful assets, and they are bitcoin, ether and dogecoin.
Despite his criticism of Bitcoin, Musk said he owns more of Bitcoin than Ether and DOGE. “Bitcoin by itself cannot be the monetary system of the world at the base layer, but at the second layer, it’s possible depending on how it’s implemented,” Musk added.
Although he revealed that SpaceX holds some bitcoins, he didn’t state how much the company’s crypto investment is worth. Tesla’s Bitcoin holdings became popular after the company bought $1.5 billion worth of bitcoins. The investment grew to $2.5 billion by April this year.
Musk also revealed that he owns Ether. However, he also didn’t reveal how much he has personally invested in the second-largest cryptocurrency.
Tesla will likely start accepting Bitcoin again
The tech billionaire wasn’t done as he stated that Tesla would likely start accepting Bitcoin as a payment option for its electric vehicles again. Musk said, “I want to do a little more due diligence to confirm that the percentage of renewable energy usage is most likely at or above 50% and that there is a trend toward increasing that number. If so, Tesla will most likely resume accepting bitcoin.”
Musk pointed out that he is in support of nuclear power as he believes nuclear plants are safe despite public opinion. However, he clarified that he meant nuclear fission and not fusion.
Musk asked Twitter boss Jack Dorsey if the social media platform would consider accepting advertising money in crypto. Jack Dorsey said yes but admitted that it is not his main focus at the moment.