Elon Musk says He’s ‘Late’ to the ‘Bitcoin’ Party; Should Have Bought 8 Years Ago
While Bitcoin is on the “verge of getting broad acceptance,” Tesla CEO said, “the most ironic outcome would be Dogecoin becomes the currency of Earth in the future."
Tesla and SpaceX CEO Elon Musk appeared on social audio app Clubhouse on Sunday and sent the price of Bitcoin to $34,700 after declaring his support for the largest cryptocurrency. BTC is now back to $34,000.
The world's richest person said while he doesn't have a strong view on other cryptos, he is “a supporter of Bitcoin,” adding that he’s “late to the party” as he “should have bought the cryptocurrency eight years ago.”
“I was a little slow on the uptake … I do think at this point that bitcoin is a good thing.”
Last week, Musk sent the prices of Bitcoin soaring above $38,500 with a simple bio change to “bitcoin,” which he sees gaining acceptance.
“I think bitcoin is on the verge of getting broad acceptance by conventional finance people,”
Besides Bitcoin, Musk has also sent the prices of Dogecoin flying several times in the past. The meme coin went above $0.8 last week but since then had lost more than half of its value as it currently trades around $0.39 but is still up 4x before this pump started. DOGE 4.53% Dogecoin / USD DOGEUSD $ 0.21
$0.014.53% Volume 2.09 b Change $0.01 Open $0.21 Circulating 130.61 b Market Cap 27.06 b 12 h Tesla Reported No Changes in Digital Assets in Q2 But Recorded A Bitcoin-Related Impairment of $23 Million 15 h Cathie Wood’s Ark Investment Buys Another Batch of Coinbase (COIN) Shares 1 d Robinhood Considering Offering US Retirement Accounts (IRAs), Which Are Holding $12.6 Trillion
This time as well, Musk commented on DOGE, saying, “the most ironic outcome would be Dogecoin becomes the currency of Earth in the future.”
Musk also talked about Mars, memes, and testing brain microchips on monkeys.
Talking about the timeline to get humans on Mars, Musk told hosts Sriram Krishnan and Aarthi Ramamurthy at the beginning of the show, “Five and a half years.”
At the same time, he listed several caveats, including the technological advances to be made. “The important thing is that we establish Mars as a self-sustaining civilization,” he said.