Elon Musk Reveals He Owns a Small Amount of Digital Currency, All Denominated In Bitcoin (BTC)

Wall Street is filled with humming sound with speculations that Apple might reach out into its $245 billion war chest to acquire Tesla – electric vehicle giant. However, all the digital currency community wants to talk about is what Elon Musk – the CEO of Tesla – thinks about Bitcoin (BTC) as well as its anonymous creator.

Elon Musk Reveals He Owns a Small Amount of Bitcoin (BTC)

Just a day after the CEO heaped praises on Bitcoin (BTC) while speaking at the Ark Invest podcast, Musk said that he still owns a small amount of digital currency. He said that all the digital currency he owns is denominated in the world’s most dominant coin – Bitcoin (BTC).

In response to a report that he referred to the structure of Bitcoin (BTC) as “brilliant” and that digital currency is a much better way of transferring value than paper money, the CEO said that he has not even made that transition himself yet.

Musk said: “That said, I still own only 0.25 Bitcoin (BTC) which was sent to me by a friend a couple of years back. I don’t have any digital currency holdings.”

The Tesla boss has long maintained that he only owns 0.25 Bitcoin, and he did not buy it himself, it was sent to him as a gift. Almost one year ago, the CEO tweeted: “I literally own no digital currency apart from 0.25 Bitcoin (BTC) which a friend sent me many years ago.”

One-quarter of a Bitcoin (BTC) was worth about $5k during the massive bull run of Bitcoin in December 2017. However, that amount does not even add up to a drop in the bucket of the massive net worth of Musk which is $22 billion.

Satoshi Deserves a Nobile Prize for ‘Delayed Gratification’ – Musk

There have been speculations that Bitcoin (BTC) was created by Elon Musk, though he has openly denied them. In response to another tweet that implies he is the creator of Bitcoin (BTC), Musk joked that Satoshi deserves a Noble Prize for “delayed gratification,” considering the fact that she or he or they owned a fortune in digital currency but never spent a penny other than for testing purposes.

The creator of Bitcoin (BTC) is believed to have at a certain time controlled BTC wallets containing as much as one million Bitcoin – funds that have never been spent. During the massive 2017 bull run, when Bitcoin (BTC) peaked at almost $20k, the anonymous programmer would have become one of the richest persons in the world, with a net worth of about $20 billion, competing with that of Musk.

Bitcoin (BTC) Price Today – BTC / USD

Name Price24H (%)
Bitcoin (BTC)
$10,303.00
-3.18%

Nevertheless, ten years after the digital currency was launched, the general consensus is that those coins are locked away forever, either because the creator died or has lost access to the wallets holding the digital currency.

Irrespective of Musk’s bullish sentiments towards Bitcoin (BTC) and digital currencies, he doesn’t think it’s a good idea to involve the resources of Tesla in the still-fledgling digital currency industry. Nevertheless, many believe that Musk’s love for technology and courage to risk on evolving, but potentially world-changing ideas, make a future embrace of digital currency inevitable. After all, if someone is going to take Bitcoin (BTC) to the moon, it makes sense that it would be the founder of SpaceX.

Princess Ogono is a writer, lawyer and fitness enthusiast. She believes cryptocurrencies are the future. When she's not writing, she spends time with her adorable cat, Ginger and works out often.

LEAVE A REPLY

Please enter your comment!
Please enter your name here

This site uses Akismet to reduce spam. Learn how your comment data is processed.