Tesla CEO Unveils True Opinion on Bitcoin

Tesla CEO Unveils True Opinion on Bitcoin

After a long period of confusion in the crypto community with tweets from here and there about Bitcoin, Elon Musk, CEO of prominent electric car maker Tesla, has finally unveiled his true opinion about this digital asset.

Musk said he is not interested in Bitcoin at all since it is used in illegal business.

On January 10, the American billionaire said on his twitter account that the Bitcoin is not a safe haven. However, this contradicts his previous statement in April 2019 that the Bitcoin is a safe haven, but later described it as a ‘joke’.

He jokingly made a suggestive tweet about Bitcoin that has set Twitter heads over heels. The innuendo-filled tweet gained thousands of likes and is still getting more by the minute.

It was reported that the car maker plans to establish a factory in Germany, which raised concerns about the company’s consumption of water.

Thus, Musk tried to alleviate such concerns about his company’s planned factory, indicating that it will use less water than expected.

“Sounds like we need to clear up a few things! Tesla won’t use this much net water on a daily basis. It’s possibly a rare peak usage case, but not an everyday event”, Musk tweeted.

Musk stated that any alternative of the current cash would be used for legal and illegal purposes.

The Amercian billionaire established an online bank named ‘X.com’ in 1999, which was later merged with PayPal.   

It seems that Musk was not the only one to criticize investment in Bitcoin. Peter Schiff, for example, claimed that Bitcoin investors fail to choose their proper investments, and do not know the difference between Bitcoin and gold.  

However, Changpeng Zhao, founder of Binance, said Schiff is unwillingly promoting the Bitcoin, advising him to continue with his criticism.

Zhao said, “I think Peter is doing great to promote bitcoin. He probably does not realize that given his illogical reasoning, most people will do exactly opposite of what he says.”

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Rabea Maguid 551 Articles
Rabea Maguid is a journalist completely obsessed with crypto industry. He holds B.A. from Al-Azhar University, and has a background in journalism and economics. Rabea Maguid likes to think about the future in a positive way, and sees blockchain as a potential driver of deep societal change.