Just a few days after changing his personal description on his official Twitter page to #Bitcoin, billionaire Elon Musk continued to express regret for not purchasing the largest cryptocurrency in the market eight years ago.
“I am a supporter of Bitcoin. I believe Bitcoin will soon be widely accepted by traditional finance.”
Notably, the second richest tech billionaire in the world also expressed regret for not buying the largest cryptocurrency in the market eight years ago.
“I was quite slow to act. However, I believe Bitcoin is a good thing at this point in time,” Elon Musk said. A few days earlier, the Tesla CEO had updated his personal description on his official Twitter page to #Bitcoin in support of this cryptocurrency. Musk’s move immediately pushed Bitcoin’s price up 20% to $38,566, amidst Robinhood’s trading platform banning users from buying and selling shares of GameStop and several other stocks. Following the ban, a wave of traders poured money into the cryptocurrency market.
Currently, there are many speculations that the tech billionaire has purchased a large amount of this cryptocurrency, but the exact amount remains unclear. In 2018, Elon Musk shared that he owned about 0.25 BTC (approximately $8,500 at current market value). This amount of Bitcoin was a gift from a friend of Elon Musk years ago.
However, Elon Musk’s current view on Bitcoin is quite different from many other billionaires, such as legendary investor Warren Buffett. In a February 2020 interview with CNBC, the billionaire with a net worth of $86.7 billion stated that “cryptocurrency is essentially worthless.” He also affirmed that he would never invest in any cryptocurrency.
Source: Bloomberg