Elon Musk says “I thought little about BTC in daily life”, following Bitcoin spot ETF approval
It seems that Elon Musk is still not open to adopting Bitcoin at a better level, despite Bitcoin successfully securing a regulatory status in the US jurisdiction.
Elon Musk is the richest personality in the world & he is popular in the crypto space because of his bullish support for Dogecoin (Doge). In 2021, His company Tesla purchased Bitcoin & started accepting Bitcoin payments but later the company terminated the Bitcoin payment option & also sold the majority of the Bitcoin holdings.
On 10 Jan 2024, Elon Musk hosted an X (Twitter) space discussion with Ark Investment fund manager CEO Cathie Wood, on the occasion of Bitcoin spot ETF approval by the United States Securities and Exchange Commission (SEC).
During the discussion, Wood asked Musk whether he would consider adopting Bitcoin for X (Twitter) services. Elon Musk responded & said that he was open to the idea of using Bitcoin on X, but he thought little about BTC in daily life.
Earlier a similar kind of statement was made by Musk which means he is not ready to adopt Bitcoin because of the high transaction fees & high energy consumption by the Bitcoin network via mining operations.
But this time, Musk confirmed that his space rocket company SpaceX & he own Dogecoin & Bitcoin in decent amounts.
In 2021, when Tesla revoked the Bitcoin payment option, Musk was criticized by the Bitcoin community badly but he clarified that his decision was temporary & Tesla would again start accepting Bitcoin payments when Bitcoin blockchain mining operations will run on more than 50% of the sustainable & green source of energy.
In the last 1 year, more than 50% of Bitcoin miners have been using sustainable & green sources of energy to mine Bitcoin and also many people asked Musk to respond & adopt Bitcoin but Musk failed to respond.
In the past, Musk faced huge legal hurdles in the Dogecoin lawsuit. Through the Dogecoin lawsuit, a person claimed that Musk pumped Dogecoin by using his popularity & was also accused of insider trading. So far Musk has not been found guilty in any of the allegations.
Read also: Finally, the SEC approved 11 Bitcoin spot ETFs but the SEC chairman is not happy
