In a B Word conference, Tesla and SpaceX founder Elon Musk said “I might pump, but I don’t dump,” when explaining his views on cryptocurrency, saying he doesn’t manipulate Bitcoin just to make a payday for himself. “I definitely do not believe in getting the price high and selling … I would like to see bitcoin succeed.” He continued.
He elaborated that both Tesla and SpacesX own Bitcoin, along with Musk owning some himself. He also personally owns Ethereum and Dogecoin, too.
“We can’t just see this as an asset that we own, and an investment vehicle is something that has the potential to change everything and make the lives of everyone was kind of better in some small, maybe marginal way,” he said.
In the online panel discussion that included Twitter and Square founder Jack Dorsey, Musk said he believes that cryptocurrency can put the public in a position of more control against the government and its policies. Bitcoin, in his eyes, is the “native” currency of the internet.
Tesla might also be accepting Bitcoin transactionally again. Tesla stated back in May that it would stop accepting bitcoin for car purchases, less than two months after the company began accepting the world’s biggest digital currency for payment. “I wanted a little bit more due diligence to confirm that the percentage of renewable energy usage is most likely at or above 50 per cent and that there is a trend towards increasing that number, and if so, Tesla would resume accepting bitcoin,” said Twitter’s beloved billionaire. “Most likely the answer is that Tesla would resume accepting bitcoin.”
“Tesla’s mission is accelerating the advent of sustainable energy,” he said. “We can’t be the company that does that and also not do appropriate diligence on the energy usage. Now it looks like bitcoin is shifting a lot more towards renewables.”
On the day when these statements were made, Bitcoin was up 8 per cent at $32,160.16, while ether surged 11.6 per cent to $1,993.36. Tesla’s shares were down 0.8 per cent at $655.30 in extended trading.
He believes it has the potential to create world peace.