B-Word Conference Live Updates – Musk reveals SpaceX owns Bitcoin (BTC)

The much-awaited B-Word conference is currently live and underway with Elon Musk revealing and confirming many speculations. Musk revealed SpaceX also owns Bitcoin on its balance sheet along with Tesla and himself. Musk also revealed that he owns Ether, Dogecoin along with BTC in his portfolio.

Musk also said he is an “overall supporter of Bitcoin.” He also talked about the controversial pump and dump topic saying,

“I might pump, but I don’t dump”

Talking about Dogecoin and why he supports the currency, he said, “I love dogs and memes.”

Musk was also wearing an “Evolution of money” meme t-shirt that shows bitcoin as the ultimate evolved form of money.

“We are not selling any Bitcoin” – Elon Musk

Elon Musk also revealed that one time he proposed to put a Bitcoin node in a Starlink terminal which would give more people access to run Bitcoin.

“One idea would be to put a bitcoin node in SpaceX Starlink terminals, so that way more people would be running bitcoin”

When asked about Tesla’s plans of accepting Bitcoin as a payment in near future, Musk said,

“It looks like bitcoin is shifting more towards renewable … There is a trend towards more than 50% renewables. In that case, Tesla would resume accepting Bitcoin, Most likely”

Cathie Wood one of the known Bitcoin proponents on the panel said,

“Bitcoin will be more environmentally friendly than gold mining or the traditional financial system,”

Jack Dorsey the CEO of Twitter who is a big-time Bitcoiner said it reminds him of the early internet.

“What inspires me the most is community driving bitcoin. It reminds me of the early internet.”= Jack Dorsey

he added,

“everything we (Square) create for Bitcoin from hardware to software will be open source and completely transparent.”

Musk also said that one has to hold their private keys rather than depending on a bank or a private company.

“You have to own your private keys.”-Elon Musk

“To me, it seems self-evident that we should take the set of action most likely to make the future good. Bitcoin will make the future better most likely.”- Elon Musk

Musk also went onto ask Dorsey to allow advertisers to pay Twitter in Bitcoin. Later he was seen talking about a space heater that would double up as Ethereum, Bitcoin, and Doge mining node. Some believe it could be a possible hint at Tesla building its renewable mining machines.

What did Elon Musk mean by this? 😳 pic.twitter.com/tOBDUsGMqZ

— croissant (@CroissantEth) July 21, 2021

“Tesla’s bank balances in Europe have a negative interest rate. You pay the bank to hold your money. This is insane!”- Elon Musk

Dorsey on the other hand hoped for world peace through Bitcoin.

“I hope that it creates world peace.”- Jack Dorsey

Subscribe to our newsletter for free