During the B-Word Event, Tesla CEO Elon Musk disclosed that he owns BTC, ETH, DOGE, and Bitcoin, which is owned through his aerospace firm SpaceX.
During a conversation with Twitter’s Jack Dorsey at the current B Word online event, Elon Musk revealed further details about his crypto holdings and aerospace firm, SpaceX.
Elon Musk is the owner of Ether.
Elon Musk, Jack Dorsey, and Cathie Wood were among the speakers at the B-Word conference, moderated by Steve Lee.
In an interview with Dorsey, the Tesla CEO revealed details on his private crypto holdings, revealing that he holds Ether, the second-largest cryptocurrency by market value, in addition to Bitcoin and, of course, Dogecoin.
Even though Musk is a huge supporter of DOGE and is concerned about Bitcoin‘s energy use, the billionaire admitted that he owns more BTC than ETH or DOGE. However, the Tesla CEO did not say how much he put into these assets or when he put it in.
Musk claimed that his aerospace firm SpaceX, in addition to Tesla, has Bitcoin in its portfolio. However, Musk did not reveal how much of the crypto asset SpaceX holds, unlike his electric vehicle firm, which has $1.5 billion invested in BTC.
Musk stated that despite his Bitcoin investment, it could not be a global monetary system at the base layer, but it can be at the second layer depending on implementation.
He believes that a well-implemented layer two networks, like the Lightning Network, would aid Bitcoin‘s scalability, allowing it to become the world’s currency.
According to the billionaire, his aerospace firm is essential in realizing such a vision for Bitcoin’s future. He did not, however, address what SpaceX is doing to attain that aim.
Tesla is going to start repurchasing Bitcoin.
Meanwhile, at the event, Tesla CEO Elon Musk said there’s a high possibility the company would start taking Bitcoin payments after he checks that miners are switching to renewable energy.
Following the suspension of BTC purchases due to environmental concerns, Tesla’s CEO stated that the business would restart taking Bitcoin provided the cryptocurrency’s mining activities used at least 50% renewable energy.