SpaceX Owns Bitcoin - Elon Owns ETH

Some takeaways from The B Word Conference and what it means for crypto in general

Hey DEFI TIMES community,

The B Word Conference took place on Wednesday. Probably the single most important discussion was between Elon Musk, Cathie Wood, and Jack Dorsey.

Of course, all eyes were on Elon and what he had to say about Bitcoin. The expectations weren’t quite high, to say the least. Despite Tesla owning Bitcoin, Elon has been trolling around on Twitter - criticizing and making fun of Bitcoin in general!

However, Elon’s arguments turned out to be quite constructive. Some of the main takeaways from the conference were:

  1. Elon personally owns Bitcoin

  2. SpaceX put Bitcoin on its balance sheet

  3. Elon personally owns ETH

  4. Elon is interested in DeFi

What happened? From my observation, the way Elon presented himself on Twitter didn’t quite meet reality. Elon is still a supporter of crypto and decentralization!

But if Elon supports Bitcoin and crypto, why did he criticize it on Twitter?

Well, the answer is pretty simple and we can find it between the lines of what Elon said during the interview.

“If the price of bitcoin goes down, I lose money. I might pump, but I don’t dump. I definitely do not believe in getting the price high and selling or anything like that. I would like to see bitcoin succeed.”

Elon doesn’t want to use his influence to pump up the price and then sell for a profit. He wants Bitcoin to win long-term!

By pointing out some of Bitcoin’s weaknesses, he was able to change the narrative of crypto in a sustainable direction.

Crypto is antifragile! What doesn’t kill us, makes us stronger!

Maybe that was Elon’s plan all along!

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DISCLAIMER: All information presented above is meant for informational purposes only and should not be treated as financial, legal, or tax advice. This article's content solely reflects the opinion of the writer, who is not a financial advisor.

Do your own research before you purchase cryptocurrencies. Any cryptocurrency can go down in value. Holding cryptocurrencies is risky.