Elon Musk admits to still owning Bitcoin

Elon Musk admits to still owning Bitcoin
  • Elon Musk recently commented on J.K.Rowling's tweet about Bitcoin and how much he owns.
  • Musk said that Bitcoin seems solid when compared to the unlimited money-printing done by the banks.
  • He also revealed that he owns 0.25 BTC, although he did not seem like he plans to purchase more anytime soon.

Tesla CEO, Elon Musk, became rather well known as a popular billionaire and a careful fan of cryptocurrencies. However, he was always careful not to give any false — or overly serious — claims regarding Bitcoin and its altcoins.

He does address the crypto world relatively frequently on his Twitter account, which always results in a wave of excitement that goes throughout the crypto community. This time, however, he was one of those who attempted to explain Bitcoin to another well-known wealthy and popular individual — the author of the Harry Potter series, J. K. Rowling herself.

Musk thinks Bitcoin is more solid than fiat right about now

Rowling posted a tweet in which she said that people were trying to explain Bitcoin to her, but she only vaguely understood that it has something to do with computers, risks, and collectibles in the form of tokens.

Immediately, Bitcoin geeks rushed to help, and Elon Musk found himself among them. He even admitted that BTC does have certain benefits, especially when it comes to situations like the one in which the world finds itself now. After all, we did recently report about President Trump’s recent suggestion to the Federal Reserve, which revolves around negative interest rates.

How much Bitcoin does Elon Musk have?

However, Musk then surprised everyone by admitting that he is a Bitcoin owner, even revealing how much he has in his possession.

Musk revealed that he is an owner of 0.25 BTC, and while he did say that it looks solid when compared to ‘massive currency issuance by govt central banks,’ he doesn’t seem to be rushing to buy more coins. In fact, he recently tweeted that he plans to sell all of his physical assets, stating that that even includes his own house.

This caused some jokes about how Musk is willing to sell his home, but is still sitting on his BTC.

Musk was not the only celebrity who commented, however. VanEck’s digital assets director, Gabor Gurbacs, left his comment as well. However, he did not seem to be particularly impressed by Rowling’s tweets, or her lack of understanding, or even by her unwillingness to make an effort to understand the coin.

He said that “JK Rowling is less important for #Bitcoin than the random guy/girl who runs a full node in a small village.” He also added that celebrities do not make much of a difference for BTC in the long term.

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