Tesla and SpaceX chief govt Elon Musk simply talked about Bitcoin once more in a cheeky tweet printed simply minutes in the past. Referencing feedback he made beforehand in regards to the main cryptocurrency, Musk quipped “Bitcoin is my secure phrase.”
Bitcoin is my secure phrase
— Elon Musk (@elonmusk) December 20, 2020
In January, the billionaire mentioned that the main cryptocurrency is “not [his] secure phrase.”
That is Musk’s newest jest at Bitcoin and the broader crypto area over the previous few months. He usually tweets about Bitcoin, Dogecoin, and different cryptocurrencies, typically in a joking method.
However he’s additionally a passionate believer within the crypto-asset market.
In an interview with Kathie Wooden of ARK Make investments, Musk mentioned that he thinks Bitcoin has a “sensible” construction, although criticized its energy-sapping design. He has additionally mentioned that he thinks BTC does have some worth in a world the place fiat cash is being printed away at a speedy clip.
He has, to some extent, criticized Bitcoin by saying that it’s unlikely to turn out to be the world’s base layer for funds.
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Billionaires on Bitcoin
Whereas Musk has acknowledged that he doesn’t spend money on Bitcoin, there are different billionaires that do and have come out in help of the asset over latest months.
Most just lately and notably, Wall Avenue financier Stan Druckenmiller mentioned to a CNBC viewers that he thinks BTC is best than gold within the present local weather. Druckenmiller attributed this sentiment to the truth that BTC is a scarce asset and the truth that it does have a variety of help from youthful buyers.
As these youthful buyers inherit capital, capital ought to naturally movement into BTC.
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