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Elon Musk Reveals His Cryptocurrency Holding

23 Feb 2019

Recently, the cryptocurrency community was pleasantly surprised when Tesla owner and real life Iron Man, Elon Musk said that bitcoin bypasses currency control. In a podcast he had said, “The Bitcoin structure was quite brilliant. However, one of the downsides of crypto is that computationally it is quite energy intensive. So there have to be some kind of constraints on the creation of crypto. But it’s very energy intensive to create the incremental Bitcoin at this point.”Now however, Musk has revealed that he does not hold a lot of bitcoin. In a reply to a news portal he said, “That said, I still only own 0.25 BTC, which a friend sent me several years ago. Don’t have any crypto holdings.”That said, I still only own 0.25 BTC, which a friend sent me several years ago. Don’t have any crypto holdings.— Elon Musk (@elonmusk) February 21, 2019Not satisfied with this response, a user on his timeline said, “And on your Satoshi BTC address you hold the rest.” In response to which, Musk replied, “Whoever owns the early BTC deserves a Nobel prize in delayed gratification.”This is interesting because, a year ago, Musk had stated the same saying, “I literally own zero cryptocurrency, apart from 0.25 BTC that a friend sent me many years ago.”However, despite being pro-crypto, Musk has stated that Tesla won’t really be getting into cryptocurrency at the moment. He said, “It would not be a good use of Tesla resources to get involved in crypto. We’re just really trying to accelerate the advance of sustainable energy.”Elon Musk is not the first celebrity to express interest in cryptocurrency. Earlier, Jack Dorsey, founder of Twitter also made positive statements on the same. Dorsey had said, “[Bitcoin] was something that was born on the internet, that was developed on the internet, that was tested on the internet…It is of the internet.”While this is an interesting development, it remains to be seen if Musk decides to take the plunge into the cryptocurrency pool.Liked what you read? Join us on Telegram

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