Elon Musk, Jack Dorsey speak about cryptocurrency at B-Word conference

A nonetheless from The B Word displaying Elon Musk.

Source: The B Word

The value of ethereum rose Wednesday afternoon after Tesla and SpaceX CEO Elon Musk mentioned he owns the cryptocurrency at The B-Word conference, an occasion hosted by the Crypto Council for Innovation.

Ethereum, which was already rallying on the day, touched its excessive of the session after Musk’s point out. It was final up greater than 12% and close to the highs of the day.

Musk additionally repeated his assist for cryptocurrency basically, regardless of potential environmental dangers, saying, “One thing you do need to watch out for with crypto, especially bitcoin, using proof of work, using energy that’s a bit too much and not necessarily good for the environment.”

As bitcoin mining is more and more powered by renewable power, Musk mentioned, Tesla will seemingly transfer to simply accept bitcoin for transactions as soon as once more.

Musk additionally mentioned that at this time, the one publicly traded inventory he owns is Tesla’s, and that he personally owns some bitcoin, dogecoin and ethereum. “The only significant thing I own outside of Tesla is SpaceX,” he famous, having helped create each corporations.

He additionally mentioned he has been holding his bitcoin long-term.

“If the price of bitcoin goes down I lose money. I might pump but I don’t dump,” Musk mentioned. “I definitely do not believe in getting the price high and selling or anything like that. I would like to see bitcoin succeed.”

Musk additionally confirmed that each Tesla and SpaceX personal bitcoin, and no different cryptocurrency at this time.

The B-Word conference was established to “demystify,” “de-stigmatize” and “correct the mainstream narrative” across the cryptocurrency bitcoin and promote its institutional acceptance and use.

Musk is talking on a panel alongside Jack Dorsey, CEO of fee firm Square and Musk’s favourite social media platform Twitter, together with ARK Invest CEO and founder Cathie Wood, who’re answering questions from moderator and Square Crypto lead Steve Lee.

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