Bitcoin is owned by Spacex
Elon Musk, spacecraft maker and chief manager of Tesla (TSLA), unveiled during a meeting on Wednesday that Bitcoin is owned by SpaceX and is not selling it. Bitcoin and bitcoin stock prices surged during the day
Musk added that along with the bitcoin, he also personally owned some Ethereum and, “of course,” Dogos, the meme-based cryptocurrency.
Musk said during cluster approach on Bitcoin with Kathy Wood & Square (SQ), CEO of ARK Investments, and Jack Dorsey, CEO of Twitter (TWTR), Reasonable, and he loves dogs. “And I love dogs and memes. And they don’t take themselves too seriously. “
Musk said the value of the bitcoin he is much higher than the other two digital assets. And he said he was not selling any of his Bitcoin.
Earlier this year, Tesla revealed that it had bought about $1.5 billion in bitcoin. But it later sold about 10 percent of its holdings. Bitcoin also owns MicroStrategy (MSTR), a business analytics provider.
“On balance, I support bitcoin,” Musk told the panel. The comments came after Musk, often via his Twitter feed, saw the value of the bitcoin rise over the past several months.
Bitcoin held off these purchases, citing concerns about energy use.
They said. “We can’t be the company that does that, and we can’t put enough effort into using bitcoin’s energy.”
He said more struggle is needed to confirm that bitcoin’s reliving energy use is 50 percent or more. If that happens, and usage trends tend to increase by that percentage, Tesla will resume accepting bitcoins. But it is up to the corrupt mining community to share data and agree on energy standards.
Price Of Bitcoin and Bitcoin Stocks exchange
The price of Bitcoin was up 6.3% at 31,731 on Wednesday, reversing a sharp drop following China’s efforts to crack down on crypto activity.
Among Bitcoin stocks, cryptocurrency exchange Coinbase (COIN) closed up 2.6%. Grayscale Bitcoin Trust (GBTC) added 8.3%. Microstrategy jumped 11%
Wood’s RK Fantastic Innovation ETF (ARKF), which has been coin-based and other bitcoin stocks, rallied by 2% onwards.
Elen Musk made sure the investors that soon everything regarding Cryptocurrency get restored.