Elon Musk: Bitcoin is about to gain wider acceptance

Elon Musk: Bitcoin is about to gain wider acceptance

The billionaire said (Elon MuskElon Musk on Monday: Bitcoin is about to gain wider acceptance among investors, as he expressed his support for the cryptocurrency at conversation Via the Clubhouse social media app, which has attracted thousands of listeners.

The comments came after he used the #bitcoin hashtag across His account Within the Twitter platform on Friday, which led to the rise of the cryptocurrency by 14 percent.

Tesla’s CEO, Musk, is known for making comments on Twitter that move the markets, and he acknowledged this during his debut on the invite-only Clubhouse app.

He said: I am a bitcoin supporter, andI was a bit slow to absorb, and I think Bitcoin is about to gain widespread acceptance from traditional finance experts, adding that he should have bought the coin eight years ago.

Bitcoin was last traded up 3.7 percent at $ 34,390, after jumping more than 300 percent in 2020.

In the large-scale chat, the Mask of Mars and his companies and vaccines discussed, among other topics.

He also interviewed (Vladimir Tenev) Vladimir Tenev, co-founder of online brokerage app Robinhood, who has been under fire for preventing retail investors from buying GameStop shares.

GameStop shares rose nearly 400 percent last week after retail investors gathered to buy shares in the US video game retailer, sending hedge funds scrambling to cover their losing bets.

“The market rumor is incorrect that Citadel Securities – the arm of billionaire hedge fund manager Ken Griffin – has pressured Robinhood to ban individual investors,” Tenev said.

This is just a mistake, Tenev said, adding that Robinhood has paused trading to meet regulatory capital requirements.

Musk last week tweeted the fake word Gamestonk, which many in the market have interpreted as a clear display of support for small investors.

The artificial word Gamestonk denotes a mixture of GameStop and the term stonks widely used in social media to refer to stocks.

Musk also spoke about the Corona virus vaccines, saying: He expects the vaccines to arrive in huge quantities soon, and added that the authorities should focus on giving the first dose of vaccines soon and worrying about the second dose later, in order to speed things up.

Leave a Reply