Elon Musk Says Bitcoin Is On The Verge Of Getting Broad Acceptance

News / 01.02.2021

The billionaire CEO of Tesla and SpaceX, Elon Musk, has recently reaffirmed his conviction that bitcoin is a good investment asset and is rapidly making its way to mainstream adoption. 

In a special episode of Good Time on the audio-chat social networking app, Clubhouse held on Sunday night, Elon Musk said that bitcoin’s mainstream adoption is set to occur sooner than later.

He said, “I think bitcoin is really on the verge of getting broad acceptance by sort of the conventional finance people…I don’t have a strong opinion on other cryptocurrencies.”

Late To The Party

He revealed that he had ignored the advice from many of his friends who tried to convince him to buy bitcoin in the past.

Musk added that he regretted not repurchasing some bitcoin in 2013 when the digital currency had not attained the popularity that it has today and was trading below $1000, and now he feels that he is “late to the party.”

Although he had earlier stated that he didn’t have any strong opinion on other cryptocurrencies, Musk briefly spoke about the meme-inspired digital currency, Dogecoin.

Fate Loves Irony

He fondly recalled when he occasionally made jokes about DOGE in some of his tweets in the past and said that those tweets were doing nothing but what the cryptocurrency was made for, a joke.

He said, “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.”

Just a few days back, Musk updated his Twitter bio with just “#bitcoin,” a single word that caused an immediate bitcoin rally and pushed the digital currency’s price up by more than 20%. 

Mandy Williams joined the crypto space in 2016, and since then she has been learning and writing about cryptocurrencies and blockchain technology.