At “The B Word” conference Tesla CEO Elon Musk revealed that he personally has invested in Ethereum. He also revealed that both SpaceX and Tesla own bitcoin.
In his opening at the B word conference, Musk said that he is a supporter of Bitcoin and cryptocurrencies. “I would like to see Bitcoin succeed,” Musk said. “If the price of Bitcoin goes down, I lose money. I might pump but don’t dump.”
He said the only public stock he owns is Tesla. However, the only “meaningful assets” he owns outside Tesla is bitcoin, ethereum, and dogecoin.
Musk did not reveal any additional details about SpaceX’s purchase apart from saying, “I do own Bitcoin, Tesla owns Bitcoin, SpaceX owns Bitcoin, and I do personally own a bit of Ethereum and Dogecoin of course.”
Tesla started accepting Bitcoin in March. In May, he suspended Bitcoin as a payment citing environmental concerns. Though, he said that Tesla would most likely resume accepting Bitcoin for purchase once mining becomes less environmentally taxing.
He did add that: “We’re not selling any Bitcoin, nor am I Selling anything personally or nor is SpaceX selling any Bitcoin.”
During the event, Musk donned a BTC-themed t-shirt and appeared to be relatively optimistic about the future of digital gold. The t-shirt shows bitcoin as the ultimate evolved form of money. He stated that he owns “much more Bitcoin than Ether and DOGE.”
Musk also said that there “appears to be a positive trend” in renewable energy usage for Bitcoin mining. The recent closure of coal-powered mining plants in China.
“I want to do a little more diligence to confirm that the percentage of renewable energy usage is most likely at or above 50% and there is a trend towards increasing that number,” he said.
Jack Dorsey VS Elon Musk at The B Word Event
Musk also asked participant Jack Dorsey, the CEO of Twitter and Square, whether he would consider accepting Bitcoin as payment from advertisers.
Dorsey replied that he agreed with the concept but that he was more focused on creating “economic incentives in the network itself without having to rely on advertising.”
When Musk pressed him for an answer of whether he would actually allow advertisers to pay with bitcoin. However, Dorsey laughed and stopped short of committing to doing it right away.
Dorsey is an early bitcoin supporter. He compared Bitcoin with the early internet. “What inspires me the most is community driving bitcoin. It reminds me of the early internet”. He also said that whatever they will create for bitcoin will be open source and transparent.
“I hope that it creates world peace,” – Jack Dorsey.
Cathie Wood, one of the known Bitcoin supporters said, “Bitcoin will be more environmentally friendly than gold mining or the traditional financial system”.
About The B Word Conference
The B Word conference is Bitcoin centered where some of the most notable names in the crypto field gathered to discuss bitcoin. They discussed possible ways in which institutions can incorporate Bitcoin into their system.
The conference is divided into various parts where some speakers would debate and discuss various aspects of bitcoin. The key speakers in the event would include Elon Musk, Tesla CEO, Twitter CEO Jack Dorsey, Ark Invest CEO Cathie Wood, SEC Commissioner Hester Peirce, and a few more.
‘The B Word’ is organized by the crypto council for Innovation, which describes itself as “a global alliance of the crypto industry with a mission to demonstrate the transformational promise of crypto and communicate it before to policymakers, regulators, and people around the globe.”
