Connect with us


Elon Musk Confirms His Companies Still Hold Bitcoin, Could This Trigger Another Bull Run?

As Elon Musk confirms SpaceX owns Bitcoin, Could this mean that Tesla could be closer to accepting BTC payments one more time? A look through BTC’s sustainability suggests that Bitcoin might have already hit their energy targets set by him just a few months back. It is the first time that the company has announced its acquisition after of course months of speculation triggered by how Musk’s relationship with crypto became very complicated when he announced that his company Tesla would no longer be accepting Bitcoin payments due to his alleged environmental concerns.

We won’t go into detail again about what happened during the crash but his embracement of crypto once again would be huge. Some would say that factually he has never dismissed crypto at all, and all his concerns were energy-based. However, his support of Dogecoin has always left many feeling cold as some were expecting him to choose an alternative to Bitcoin when he made such a decision.

There is not an official announcement about the actual amount of Bitcoin purchased. Nevertheless, Tesla made waves earlier this year after it was announced that they bought $1.5 billion worth of cryptocurrency earlier this year. So, there is of course speculation that the purchase could be somewhere in this region.

In a virtual event dedicated to Bitcoin, Musk has suggested that Tesla was almost ready to accept the cryptocurrency again, after shreds of promising evidence that the percentage of renewable energy used for mining was growing.

According to Coin Metrics co-founder Nic Carter telling CNBC, the BTC’s fundamentals are improving in terms of sustainability, therefore this “green” Bitcoin narrative could help revive a rally.

Appearing alongside Ark Invest CEO Cathie Wood, Twitter CEO Jack Dorsey, and moderator Steve Lee from Square Crypto, Musk did not reveal any additional details about SpaceX’s acquisition, aside from saying:

“I do own Bitcoin; Tesla owns Bitcoin; SpaceX owns Bitcoin, and I do personally own a bit of Ethereum and Dogecoin of course.”

He also added that:

“We’re not selling any Bitcoin, nor am I selling anything personally or nor is SpaceX selling any Bitcoin.”

Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

More in Crypto

Dogecoin News Hub