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Elon Musk Supports Bitcoin, Says BTC on the Verge of Broad Acceptance

Elon Musk Supports Bitcoin, Says BTC on the Verge of Broad Acceptance

Spacex and Tesla CEO Elon Musk has clarified his position on bitcoin and dogecoin. He confirmed that he supports bitcoin, stating that it is “a good thing.” Admitting that he is late to the game on bitcoin, Musk said that he should have bought some eight years ago when his friend fed him a slice of a bitcoin cake.

Elon Musk Confirms He Supports Bitcoin

In an interview on The Good Time Show via the Clubhouse app Sunday night, Spacex and Tesla CEO Elon Musk talked about bitcoin and dogecoin.

“I’ve got to watch what I say here because some of these things can really move the markets,” Musk responded when asked to comment about bitcoin. “Many friends of mine have tried to convince me to get involved in bitcoin for a long time … I was a little slow on the uptake.” He added that one of his friends called Billy had a bitcoin cake, and he fed him a slice in 2013.

“I at least should have bought some bitcoin eight years ago,” Musk admitted, elaborating:

I do at this point think bitcoin is a good thing. I’m late to the party but I’m a supporter of bitcoin and I think bitcoin is really on the verge of getting broad acceptance by conventional finance people.

“I don’t have a strong opinion on other cryptocurrencies,” the Spacex and Tesla CEO further revealed. On dogecoin, he said: “Occasionally, I make jokes about dogecoin but they are meant to be jokes. Dogecoin was made as a joke to make fun of cryptocurrencies. Obviously.”

Nonetheless, Musk added: “But fate loves irony, and often the most ironic outcome or entertaining outcome is the most likely. And I think that the most entertaining and ironic outcome is that dogecoin becomes the currency of earth in the future.”

During the Clubhouse interview, Musk also grilled the CEO of investing app Robinhood, Vlad Tenev, over last week’s controversial trading restrictions the platform abruptly imposed on popular stocks, including Gamestop. This followed a coordinated move by Redditors on the Wallstreetbets board on certain stocks.

Last week, Musk changed his Twitter profile to say just “#bitcoin” and tweeted, “In retrospect, it was inevitable.” The price of BTC shot up soon afterwards, but has since retreated. At the time of writing, his Twitter profile still just says “#bitcoin.”

What do you think about Elon Musk’s bitcoin remarks? Let us know in the comments section below.

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