Elon Musk: Bitcoin is on the verge of mass adoption

The richest man in the world and founder of Tesla and SpaceX, Elon Musk, shared his opinion on bitcoin and its future. According to Musk, bitcoin is on the cusp of widespread acceptance in the world of traditional finance.

Tesla and SpaceX CEO Elon Musk believes in the great potential in bitcoin. In an interview to the Good Time show, dedicated to technology and culture on the social platform Clubhouse, Musk said that bitcoin is on the cusp of mass adoption.

“I do at this point think bitcoin is a good thing. I’m late to the party, but I am a supporter of bitcoin. I think [bitcoin] is on the verge of getting broad acceptance by conventional finance people,” he said.

Musk said he should have bought digital currency eight years ago.

Musk said that people had tried to get him involved in bitcoin in the past, going back as far as 2013, when bitcoin was worth a fraction of what it is now—trading at under $100.

On Friday, Musk changed his Twitter profile bio to #bitcoin. This provoked a sharp jump in the bitcoin rate over $38,000.

Musk also commented on his tweets about Dogecoin, a meme cryptocurrency he mentioned in his social media, triggering its price to go to the moon. Musk said that he has no strong opinions on other cryptocurrencies and that his comments on Dogecoin are “meant to be fun.”

“Dogecoin was made as a joke to make fun of cryptocurrencies. But fate loves irony. Arguably the most entertaining outcome, the most ironic outcome would be that Dogecoin becomes the currency of Earth of the future.”

Clubhouse is a closed social network, communication in which is conducted only in audio format. Access to the social network is available by invitation only. The app was launched in 2020 by the Alpha Exploration software developers. As of December 2020, it was valued at nearly $100 million. On January 21, 2021, the estimate was $ 1 billion.

Via: 2Coinfox.info

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