Tech tycoon Dogecoin (CRYPTO : DOGE). Elon Musk, a proponent of cryptocurrencies, revealed that he owns private cryptocurrency holdings. The majority of these being ‘by far Bitcoin and they some Doge or some Ether.
What happened? Musk suggested Wednesday that he has significantly more during the highly anticipated The B Word conference Bitcoin (CRYPTO : BTC) Ethereum (CRYPTO ETH) Dogecoin (CRYPTO)
He added, “If the price of Bitcoin goes down, then I lose money.”
Musk stated that he doesn’t plan to increase his salary at the moment. Tesla’s (NASDAQ:TSLA () Participation in a network that pollutes environment by coal-powered mining farms, particularly in China.
The statement confirms previous rumors suggesting that he was pressured by shareholders to cut Tesla’s ties with Bitcoin to avoid damaging the firm’s ‘green credentials.’
What else? Musk’s opinions about Bitcoin were positive despite all this. Musk seems to believe that Bitcoin’s leading cryptocurrency can help to free the financial system from data errors caused by government interference and fraud.
He explained how Bitcoin’s permissionless nature and decentralization reduce government control.
Musk said, “If you hate corporations you should really hate government,” Musk was referring to those who criticize corporations.
Musk spoke kind words about his pupil Dogecoin, complimenting its irreverent community for not taking itself too seriously and having great memes and dogs.
Price Action Bitcoin trades at $31,700. It has gained 6.3% in the last 24 hour, while Dogecoin is trading at $0.1882.
Ethereum gained 8.3% and traded at $1,950 at press-time.
