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Elon Musk: SpaceX Has Bitcoin on Its Balance Sheet

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3 years ago

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Elon Musk: SpaceX Has Bitcoin on Its Balance Sheet

Elon Musk at The B Word conference reveals that his company SpaceX owns Bitcoin on its balance sheet. Musk along with Twitter CEO Jack Dorsey, and CEO of Ark Invest Cathie Wood were at The B Word conference to discuss Bitcoin and other cryptocurrencies.

Musk at the conference said that he personally owns Bitcoin, Ethereum and Dogecoin, while Tesla and SpaceX both exclusively own Bitcoin. Also, he focuses that he has no plans to sell it.

“I would like to see Bitcoin succeed,” Musk said. “If the price of Bitcoin goes down, I lose money. I might pump but don’t dump.”

At the conference Musk also reveals that Tesla would likely resume accepting Bitcoin once mining becomes more environmentally friendly.

“It looks like Bitcoin is shifting more toward renewables, I would want to do a little bit more diligence to confirm the percentage of renewable energy usage is at or above 50%,” said Elon Musk.

The price of Bitcoin jumps to $32,752 soon after the statement that SpaceX too owns Bitcoin on its balance sheet. At press time BTC price is $32,402 with a market capitalization of $607,839,397,564.

Disclaimer: Koinalert’s content is only for information purpose in nature and should not be considered as investment advice. Do your own market research before investing in any cryptocurrencies. The author or publication does not hold any responsibility for your personal financial loss.

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Ashish is a cryptocurrency journalist who has been passionately involved in the bitcoin space since 2016. His interests lie in bitcoin security, open-source systems, network effects and the intersection between economics and cryptography.