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— Elon Musk (@elonmusk) February 21, 2019

So, there you have it.Of course, Musk has come out to categorically deny this.

He stated:

But I’m not sure it would be a good use of Tesla’s resources to get involved in crypto.Musk is the brains behind Paypal, SpaceX, Neuralink, the Boring Company, Tesla and more.Musk was asked if he agreed with Twitter founder Jack Dorsey’s view that there will be one digital currency to rule them all.[Use Bonpay How To]

Tesla into Crypto? Not Anytime Soon

However, don’t be too quick to think that this means Tesla is considering venturing into crypto.If you own more than 0.25 bitcoins, you are richer than the great Elon Musk.While Musk is pro-crypto, he believes that Tesla and crypto are currently on opposite sides of the energy spectrum.

Many of us regard Elon Musk as one of the most influential innovators of our generation.In the course of his innovations, he has racked up quite a fortune.There had to be some kind of constraints on the creation of crypto, but it’s very energy intensive to create the incremental bitcoin at this point.[Bitcoin Cash Current BCH Price]

.We’re really trying to accelerate the advancement of sustainable energy, and I think actually one of the downsides of crypto is that, computationally, it’s quite energy intensive.This has been one of the key reasons some miners have shut down operations in the bear market.

In his response, he stated that he believes paper money was going away.[Market ATM 2018 Dynamics October Bitcoin]

In the past, some have suspected that Musk is the pseudonymous Satoshi Nakamoto.Don’t have any crypto holdings.

And while he may not be Satoshi Nakamoto – I say may not be because we still don’t know for sure he isn’t – Musk believes that the Bitcoin creator deserves a Nobel award.The mining process requires intense computing power and consequently, it uses a lot of energy.He may be $23 billion richer, but who cares? What matters is crypto, right?

Musk has been a crypto proponent for a long time, openly expressing his belief that cryptos will overhaul the traditional financial system.“Crypto is a much better way of transferring money than pieces of paper,” he stated.[Fork Hard On November BCH Update]

That said, I still only own 0.25 BTC, which a friend sent me several years ago.

And indeed, energy requirement has continued to be cryptos’ Achilles heel.In fact, some crooks have used this to defraud people on social media with fake promotions.According to Forbes, he is the world’s 54th richest person, worth $23 billion.Cryptos bypass currency controls, giving the users power over the currency they use.He reiterated his belief recently, stating that cryptos offer a better alternative to the conventional fiat currencies.[Human Smart Auditing Contract Machine Vs]

Musk was speaking in a podcast with Tasha Keeney and Cathie Wood, executives at Ark Invest, an investment firm based in New York.He tweeted:

https://twitter.com/elonmusk/status/1098535502846648320

Image(s): Shutterstock.com

The post You May Be Richer Than Elon Musk, at Least in Bitcoin appeared first on NullTX.

Earlier today, Musk replied to a tweet by CoinDesk about his opinion of cryptos.[Roundup Monthly 2019 Jan Edition Zebpay]
Source: https://nulltx.com/elon-musk-bitcoin-wealth/

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