The Crypto market has recently seen severe fluctuations or rather changes after recent tweets, official announcements and the release of new policies. Of course, this brings the father of dogecoin to the fore again with his latest declaration.
Following Elon Musk’s recent declaration, the hype over Ethereum rose again. At the B Word Conference, Elon Musk announced that he owns this crypto-currency the fact turns markets around.
For the second time, Musk has not covered his support for crypto-currency despite the potential risks. He added that the only publicly traded stock he owns is Tesla’s, and that he personally owns some Bitcoin, Dogecoin and Ethereum.
“The only significant thing I own outside of Tesla is SpaceX,”
This in fact contradicts his words but influenced crypto markets. Ethereum actually reached its high following this declaration.
His tweets and declarations have in plenty of respects a factor behind shaking prices in crypto markets. He has previously noted that Tesla is likely to accept Bitcoin as an additional asset in transactions, and now, he mentions that he has been holding his Bitcoin long term.
“If the price of Bitcoin goes down I lose money. I might pump but I don’t dump,” Musk said. He added: “I definitely do not believe in getting the price high and selling or anything like that. I would like to see Bitcoin succeed.”
Musk also confirmed that both Tesla and SpaceX own Bitcoin, and no other crypto-currency at this time.
There has been a unanimous agreement over the fact that this conference, the B Word conference, is meant to “demystify,” “de-stigmatize” and “correct the mainstream narrative” around the hype in Bitcoin. This in fact will promote its institutional acceptance and use.
