Elon Musk on Bitcoin – “It is a Good Thing”

Elon Musk, the world’s richest man has again declared his support for Bitcoin. Some days ago, he added “Bitcoin” on his twitter bio. However in a recent report, he has reiterated his support for the cryptocurrency. 

“I am a Supporter of Bitcoin”

In a reported speech, Elon Musk showed his fresh support for Bitcoin. He made a statement during an invitation-only social media app Clubhouse. 

He said that bitcoin is almost there at being acknowledged by conventional investors and high caliber businessmen. 

Despite the fact that he chose not to reveal whether he has bought any bitcoin, he had expressed regret of not purchasing it eight years ago.

He further expressed that he was too slow at the start when he was first introduced to cryptocurrency. He however thinks that it “is a good thing now.”

Elon Musk and Cryptocurrency

The CEO of SpaceX and Tesla,  Elon Musk has been causing steers in the crypto world. Coindictate reported earlier that he caused a spike in Doge and BTC prices. 

The report stated that;

“A few days before Christmas, the Tesla CEO made a very short tweet about DOGE. He said “One word: Doge.”

These three words sent the price of DOGEcoin up by 20% moments after the tweet was made.”

Also having added only “Bitcoin” on his twitter bio, the price of the cryptocurrency spiked from $32,000 to $37,000 within a short period of time. 

His role in advancing cryptocurrency cannot be undermined. He is certainly one of the influencing factors in deciding cryptocurrency prices.