Tesla CEO Elon Musk said on Wednesday, 21, that he has cryptocurrencies such as Ether, bitcoin and Dogecoin in his wallet. At The B Word event, especially observed by the market for such investments, the entrepreneur expressed his views on the subject, and noted advantages in bitcoin, such as the decentralization of cryptocurrency.
Among his “investments outside of Tesla and Space X, bitcoin leads the way,” according to Musk. “If the price of bitcoin falls, I’ll lose money,” said the businessman, who was tied to a recent volatility in the asset. “I can inflate, but not wide,” he suggested of the cryptocurrency.
About Tesla not accepting bitcoin due to the environmental impact of the asset, Musk said that a review of the company’s position is possible if there is progress in the sustainability of the energy used in mining. According to the company’s CEO, since the announcement, in addition to a drop in bitcoin prices, there was a “massive” movement seeking to make the procedures more sustainable. “Tesla cannot be responsible for cleaner energy and at the same time not support such moves towards bitcoin,” he said, indicating that he has seen a “shift” towards cleaner energy.
“These movements affect me financially, but if this was my concern, I wouldn’t have done it,” he said, reiterating that both his portfolio and Tesla’s have investments in bitcoin, and that the fall in assets harmed him.
One of the points highlighted by Musk as an advantage for bitcoin is the possibility of carrying out transactions at a low cost. Tesla’s CEO also assessed that technical problems for the currency tend to be solved by advancing technology. As for Dogecoin, the entrepreneur indicated that “it would be ironic” if a cryptoactive that started with a joke became resilient.
The B Word describes itself as an event aimed at clarifying the role of bitcoin, and featured a series of panels on cryptocurrency. The event was watched with great interest by investors in the subject, and explained part of the asset’s volatility, which recovered the symbolic mark of US$ 30,000. At 7:46 pm (Brasilia time), bitcoin was quoted at US$ 32,080.00.
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