Elon Musk revealed that Space X, his rocket company, owns and continues to hold bitcoin. Musk was on The B Word conference to talk about bitcoin and other cryptocurrencies, alongside well-known figures in the crypto space like Twitter CEO Jack Dorsey and Ark Invest CEO Cathie Wood.
The trio were also joined by Steve Lee, head of Square Crypto, a branch of Square dedicated to digital currencies. The panelists are all BTC investors, Jack Dorsey and Elon Musk confirming that 'they both personally own the digital asset.
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Cathie Wood's Ark Invest has continued to inject more money in companies involved in the crypto space. Ark Invest was one of the first to invest in Coinbase when the crypto exchange went public, with around $ 1 billion already invested in the company by Ark Invest. Also owning approximately 7 million shares in the Grayscale Bitcoin Trust .
Getting started with Bitcoin
To learn more about his crypto holdings, Musk explained that the only significant holdings he owned besides Tesla and SpaceX were bitcoin. Confirming that the company dhe SpaceX rockets held bitcoin, Musk said the company isn't selling digital ass and soon.
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Although it is common knowledge that Tesla held the digital asset after it started receiving payments in the asset for its electric cars earlier in the year, there was had no confirmation if billionaire SpaceX's other company owned any of the digital assets.
Speculation continued in the market that SpaceX had indeed purchased the Digital asset after Tesla. Now Musk has confirmed that to be true, that the spaceship companyl actually held the crypto on its balance sheet.
Tesla could resume accepting Bitcoin payments
In April , electric carmaker Tesla had confirmed in a filing with the SEC that the company had indeed purchased $ 1.5 billion worth of bitcoin which is on its balance sheet. Soon after, the automaker announced that it had started accepting payments in the digital asset for its electric vehicles.
The market reaction to this was huge news as the price of the asset rose rapidly in response to this announcement. But in early March, the company withdrew that payment option, citing the environmental impact of mining as the reason it would no longer accept payments in the digital asset.
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Speaking of this decision and if there is a chance that Tesla will resume accepting bitcoin payments, Musk explained that the company will resume most likely the acceptance of digital asset as a method of payment. But that a little more due diligence is needed to confirm that the energy use of bitcoin mining was at least 50% renewable.
Although Musk has now confirmed that SpaceX owns the digital asset, the billionaire hasn't
BTC is currently trading over $ 31,000 | Source: BTCUSD on TradingView.com