On Sunday (January 31), Elon Musk, who is a co-founder of PayPal, founder and CEO of SpaceX, and a co-founder and CEO of Tesla, talked about Bitcoin.
The Tesla CEO had this to say about Bitcoin:
“I do at this point think Bitcoin is a good thing… I am a supporter of Bitcoin… Bitcoin is on the verge of getting broad acceptance by traditional finance people… I don’t have a strong opinion on other cryptocurrencies.“
Musk also talked about his DOGE-related tweets:
“They are really just meant to be jokes, but you know Dogecoin was made as a joke to make fun of cryptocurrencies obviously, but fate loves irony and often as a friend of mine says that the most ironic outcome or I’d say the most entertaining outcome and the most ironic outcome would be that Dogecoin becomes the currency of earth in the future.“
Last Friday (January 29), Musk updated his Twitter bio to consist of just the hashtag “#bitcoin”, which seemingly resulted in the Bitcoin price surging almost $5,000.
However, even an endorsement by the richest man in the world was unable to stop the Bitcoin price retracing to around $34,000 due to selling pressure from Asia. However, these new comments about Bitcoin — which are the most bullish comments Musk has made about the flagship cryptocurrency — could encourage more institutional investors to take a closer look at Bitcoin.