Musk confirms SpaceX holds Bitcoin at ‘B Word’ conference

Tesla Inc boss Elon Musk’s love-hate affair with several digital coins communities is growing continuously, as he shared more details about personal and his companies’ holdings.

“SpaceX, Tesla, and I own Bitcoin,” Elon Musk said at The B Word, a Bitcoin-focused conference held Wednesday.

Musk’s privately held aerospace company SpaceX’s bitcoin holdings had not been previously disclosed.

Though the electric carmaker no longer allows the customers to pay for cars using Bitcoin, Tesla hasn’t sold its Bitcoin, he said. “We’re not selling any Bitcoin, nor am I selling anything personally or nor is SpaceX selling any Bitcoin.”

In addition, the entrepreneur and provocateur disclosed that he personally owns Ethereum and Dogecoin.

“I might pump, but I don’t dump,” Musk said. “I definitely do not believe in getting the price high and selling or anything like that. I would like to see Bitcoin succeed.”

Bitcoin jumped on Wednesday by the most since mid-June, which was rebounding from the Tuesday’s large sell-offs. At press time, the largest crypto was changing hands around $ 32,815.74, up more than 11%.

Ethereum rose further on the disclosure, surging more than 15.75% to $2,032.84.

Dogecoin rose to almost 21 cents before dipping to about 19 cents by the end of the conference.

Musk spoke with Jack Dorsey, CEO of Twitter and payment company Square, and Cathie Wood, the founder, and CEO of ARK Invest, at the panel.

Last month, Dorsey and Musk agreed to discuss the outlook of Bitcoin at the event.

Quantum Economics founder Mati Greenspan said Bitcoin’s price rise earlier on Wednesday was partly in anticipation of the event.

“As we await what promises to be the greatest-ever bitcoin live stream, it’s clear that the market is already very excited,” Greenspan wrote in his daily newsletter.

Picture Credit: Somag News