Tesla CEO Elon Musk said Tuesday that the "three most significant assets" he personally owns besides his two companies are Bitcoin, Dogecoin and Ethereum.
He also claimed that Tesla and SpaceX own bitcoin during a cryptocurrency-themed discussion hosted on a website for a "bitcoin-centric initiative" called The B Word on Tuesday, along with Twitter CEO Jack Dorsey and Ark Invest CEO Cathie Wood.
Musk led cryptocurrencies higher
The B Word discussion was hosted by the Crypto Council for Innovation, which bills itself as “a global alliance of cryptocurrency industry leaders”. Musk added that he owns "a lot more bitcoin than ether or doge".
According to Coindesk data, the price of Ethereum rose above $ 2.000 after the billionaire's announcement on Tuesday. Bitcoin, Dogecoin, Ripple, Cardano, and most other cryptocurrencies were also on the rise on Tuesday at the time of publication.
When asked why he's such a huge fan of Dogecoin - a cryptocurrency based on a popular meme as a joke in 2013 - Musk said he likes dogs, memes, and the fact that Dogecoin "doesn't take itself too seriously". . He later explained that he believes some of the most unlikely investments end up becoming the most profitable.
In April of this year, Dogecoin saw a price increase of more than 500% due in part to the attention of Tesla CEO Elon Musk, who made Dogecoin a household name, at least for cryptocurrency investors.
Musk may back down on BTC again
As for Bitcoin, Tesla announced in February that it was acquiring $ 1,5 billion worth of cryptocurrency and would accept it as a payment. Musk later backtracked on the decision, saying the cryptocurrency's use of energy was a threat to climate change and that the automaker would no longer accept it as a payment.
Critics have accused Musk of manipulating the market through his praise and criticism of the coin, as well as his unwavering support for a cryptocurrency called Dogecoin which started out as a joke but has since gained tremendous success.
Tesla's founder on June 12, however, suggested it could change. Musk reiterated Tuesday that there is a future for Bitcoin within Tesla and explained that he has no plans to play the market.
"If the price of bitcoin goes down, I lose money," he said during the discussion. "I could pump, but I don't drain." He added that "he doesn't believe in raising the price and selling or anything like that." “I would love to see Bitcoin succeed,” Tesla founder said.
Musk, Dorsey and Wood met on Thursday after Musk trolled the two cyrpto investors on Twitter in late June in response to a tweet from Dorsey about Bitcoin, eventually agreeing to join a cryptocurrency debate.
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