Elon Musk admits to being a supporter of Bitcoin (BTC)

Elon Musk, the CEO of Tesla, SpaceX, The Boring Company, and the richest man in the world as of late has recently appeared in his first-ever in-person session at Clubhouse. During the session, Musk spoke about a variety of subjects, including cryptocurrencies, where he admitted to being a Bitcoin (BTC) supporter.

Elon Musk is officially a Bitcoin supporter

Musk being a Bitcoin supporter was obvious for several days now, ever since he updated his Twitter bio to only say "Bitcoin." However, with Musk's rich history of jokingly-posted crypto tweets, not a lot of people assumed that he was serious.

His recent appearance at Clubhouse finally confirmed it, as Musk stated “I do think at this point #Bitcoin is a good thing, I am late to the party but a supporter of #Bitcoin.”

It is important to note that Musk did not reveal whether he bought the coin or not, but this announcement is still very important, as it finally clears up Elon Musk's stance towards the crypto industry.

A history with crypto

Musk and the crypto industry have a lengthy history. There was never a real relationship, as he was never known as an investor, trader, or even user of digital currencies. He only tweeted about them from time to time, creating an interesting, if a bit vague, on-and-off relationship with the new digital money.

He said in the past that he admired Bitcoin's decentralization, and also that Dogecoin (DOGE) is his favorite cryptocurrency. In the next few years, Musk would commonly reference cryptos in his tweets, which typically resulted in mini-price surges. This time, he actually openly proclaimed himself as a Bitcoin supporter, which is a massive thing for BTC.