Tesla CEO Elon Musk has revealed that he doesn’t hold any cryptocurrencies, despite claiming that it would replace paper money earlier this week.
The 47-year-old billionaire has been heaping praise on Bitcoin and cryptocurrencies since the turn of the year, stating that “Bitcoin’s structure is brilliant” in an interview with Ark Invest on Tuesday.
However, although he said “paper money is going away and crypto is a much better value for a transfer of value than pieces of paper,” he has now admitted that he doesn’t have a vested interest in the digital asset class.
“That said, I still only own 0.25 BTC, which a friend sent me several years ago. Don’t have any crypto holdings,” he wrote on Twitter on Thursday.
Elon Musk isn’t the only billionaire to have shown interest in Bitcoin over the past month. Twitter and Square CEO Jack Dorsey has been openly advocating the Lightning Network, even stating that LN integration is coming to Cash App.
“We would love to make [Bitcoin] as fast and efficient and transactional as possible, and that includes looking at our seller base and register. It’s not an if, it’s more of a when, and how do we make sure that we’re getting the speed that we need and the efficiency. A lot of what we work with on the seller side is making transactions as fast as possible,” he said on the Stephan Livera podcast.
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Disclaimer: The views and opinions expressed by the author should not be considered as financial advice. We do not give advice on financial products.