Dogecoin remains on Elon Musk’s list, with the billionaire confirming that he owns Doge, bitcoin, and ethereum. Elon Musk confirmed his ownership of a couple of cryptos while speaking at the B-Word conference on Thursday. He had bitcoin, ethereum, and none other than Dogecoin in his possession.
Bitcoin (BTC) prices surged above $32,000 in the cryptocurrency market after trading below the critical $30,000 mark in the previous two sessions. The billionaire also revealed that the digital coin owned by his SpaceX space exploration corporation has no intentions to sell it.
Other cryptocurrencies, such as Ethereum and Dogecoin, have increased in value due to Musk’s announcement that he owns the three digital tokens mentioned above. In addition to Tesla and SpaceX, which are the sole owners of BTC.
According to CoinDesk, BTC has risen more than 7% to $32,200. While Ether, the coin linked to the Ethereum network, has increased to $1,980.8. Dogecoin, on the other hand, grew by nearly 9% to $0.18. According to sources, other digital coins, including as XRP, Cardano, and Uniswap, have climbed by 6-10 percent in the last 24 hours.
According to sources, Musk spoke with Cathie Wood, the CEO of Ark Investment Management, about the future of Bitcoin. In addition, Jack Dorsey, CEO of Twitter Inc. and Square Inc, spoke at the Crypto Council for Innovation’s The B- Word conference.
Musk about Bitcoin
During the conference, Musk stated, I’d like to see Bitcoin succeed. If the price of Bitcoin falls, he loses his money. He doesn’t dump, but I do pump. According to Musk, Tesla will most likely resume accepting BTC for purchases once mining becomes less environmentally damaging. It appears that Bitcoin is shifting toward renewables,” Musk observed. He’d like to confirm that the amount of renewable energy is correct.
The market value of Bitcoin
The market value of Bitcoin and other cryptocurrencies has dropped by $1.3 trillion since mid-May. Bitcoin has faced several difficulties, including increased government scrutiny in China, Europe, and the United States and concerns about the amount of energy required by the computers that power it. BTC’s gain tailed off after a drop from an April high of around $65,000. Bitcoin’s growth this year has decreased to approximately 8%.
Musk was previously chastising for his muddled comments about Bitcoin. Musk, whose company had invested $1.5 billion in BTC earlier this year, announced in May that Tesla would no longer accept Bitcoin payments after environmentalists. Climate activists chastised him for promoting a digital coin that was incredibly energy-intensive.
Tesla had invested $1.5 billion (roughly Rs. 11,150 crores) in BTC earlier this year. Still, when environmentalists and climate activists chastised it for promoting a digital coin that was harmful to the environment, the company reduced its stake in the token.