Elon Musk, founding father of SpaceX and chief govt officer of Tesla Inc., arrives on the Axel Springer Award ceremony in Berlin, Germany, on Tuesday, Dec. 1, 2020.
Liesa Johannssen-Koppitz | Bloomberg | Getty Photos
Elon Musk is doubling down on his flirtation with bitcoin.
In a dialogue on the favored Clubhouse audio chat app late Sunday (Pacific time), Musk confirmed he was a supporter of bitcoin.
“I’ve acquired to observe what I say right here as a result of a few of these issues can actually transfer the market,” Musk mentioned. “Many mates of mine have tried to persuade me to become involved in bitcoin for a very long time.”
Musk mentioned he as soon as ate a slice of “bitcoin cake” given to him by a buddy in 2013, and that he “clearly … ought to have at the very least purchased some bitcoin eight years in the past — speak about being late to the get together.”
“I do at this level suppose bitcoin is an effective factor, and I’m a supporter of bitcoin,” Musk mentioned.
“I feel bitcoin is absolutely on the verge of getting broad acceptance by standard finance folks.”
Musk added that he does not have “robust opinion” on different digital currencies. He has tweeted concerning the meme-based cryptocurrency dogecoin up to now, and in 2019 he indicated that it was his “fav cryptocurrency.”
Final week, dogecoin skyrocketed as much as 800% within the house of 24 hours after a tweet from Musk was taken by Reddit customers to imply he was throwing his assist behind the token.
“Often I make jokes about dogecoin however they’re actually simply meant to be jokes,” Musk mentioned Sunday. “Dogecoin was made as a joke to make enjoyable of cryptocurrencies.”
“However destiny loves irony,” he added jokingly. “Essentially the most entertaining consequence and essentially the most ironic consequence can be that dogecoin turns into the foreign money of Earth sooner or later.”
Cryptocurrency markets have been largely unmoved by Musk’s feedback, with bitcoin and dogecoin really falling barely shortly after he spoke. Dogecoin was nonetheless up 40% within the final 24 hours, after a massive slump over the weekend.
Bitcoin greater than quadrupled in value over the course of final 12 months. It then hit a brand new all-time excessive of practically $42,000 at the start of 2021. Bullish buyers say the digital coin has gotten a lift from elevated institutional curiosity and the notion that it’s a safe-haven asset akin to gold.