The telenovela called “Elon Musk and cryptocurrencies” continues in earnest! At “The B Word” conference today, the Tesla owner talked about cryptocurrencies
with Jack Dorsey, owner of Twitter. Sponsored Sponsored
Both billionaire celebrities spoke about Bitcoin in a very positive tone. However, we received the most sensational information from Elon Musk. To the surprise of many, this information is very positive and stands in clear opposition to the generally negative sentiment on the crypto market
, as well as Musk’s own statements from a few months ago. Musk
: SpaceX holds Bitcoin
Musk confirmed that both Tesla and SpaceX hold BTC. This comes as absolute news, as until now it has not been revealed that SpaceX owns any stake in the largest cryptocurrency.
) are held
in his private wallet. He also stressed that he does not intend to sell either privately or through his companies:
I own Bitcoin and my company owns Bitcoin, but I don’t sell any BTC and my company doesn’t sell any BTC.
Tesla may reinstate BTC payments
Another big news concerned Tesla, the publicly traded electric car company. The company’s decision to suspend its ability to pay in BTC
was one of the main events surrounding the crypto market crash in May. Musk confirmed that Tesla still has assets in its vault and has no intention of getting rid of them.
In this context, Musk’s announcement that Tesla is considering accepting BTC payments for its cars again is very momentous. Musk said that green energy consumption on the grid is improving
and Tesla is doing some more due diligence on the matter. In
his opinion, Tesla will “most likely” resume accepting payments in B
As long as there is a conscious effort to move Bitcoin miners towards renewables, then Tesla can support that.
Bitcoin hope for the world
level of highfalutin phrasing, with which Musk is clearly “redeeming the sins” of his previous negative statements, reached its zenith when he and Jack Dorsey touched on the importance of Bitcoin for the world, the Internet and people.
SpaceX owner expressed his hope that Bitcoin will change the standard of living of individuals and give them real power:
My hope for Bitcoin is a better standard of living and more power for the individual.
Musk then added that gaining freedom and power must be done through liberation from the hegemony of corporations and governments. He said not without cynicism that “if you don’t like corporations, you should really hate governments.”
In turn, the creator of Twitter said bluntly that Bitcoin can bring peace to the world:
My hope is that Bitcoin will bring world peace.
Dorsey then added that joining the Bitcoin revolution does not bring the need to trust anyone or even the cryptocurrency itself. According to him, “you can verify it yourself through the source code or whatever you feel like”.
Finally, he added that Bitcoin has the potential to become the true currency of the Internet:
The Internet gets a chance to have a native currency, for me it’s Bitcoin because of the rules, the creation history and the resilience. But what inspires me most is the community that drives it.
The rise of the BTC price
At the time of publishing the text, the price of BTC is at $31,768. In addition, we see an increase on the trading volume (blue arrow), which may herald the beginning of a new momentum and an upcoming increase in volatility on Bitcoin.
Finally, there is a high probability that the day will end with a bullish engulfing candle, which will additionally regain the important support level at $31,500. If this happens, the next few days could see a continuation of the upside towards an attempt to reverse the downtrend of recent months.
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