Bitcoin

Elon Musk CEO

<ul><li><a href="https://app.superex.live/register?invitationCode&#61;MH74R" rel="noopener noreferrer nofollow">Click to register SuperEx</a></li><li><a href="https://superex.me/3YjX5oK" rel="noopener noreferrer nofollow">Click to download the SuperEx APP</a></li><li><a href="https://superex.me/cmc" rel="noopener noreferrer nofollow">Click to enter SuperEx CMC</a></li><li><a href="https://superex.me/academy" rel="noopener noreferrer nofollow">Click to enter SuperEx DAO Academy</a></li></ul><h2 id="header-0">INTRODUCTION</h2>Elon Musk, a world-recognised cryptocurrency-friendly CEO and tech leader, has been changing attitudes towards cryptocurrencies since he first publicly discussed Bitcoin in 2014, from remaining sceptical in the beginning to becoming a long term holder in the later years, and “Elon Musk is the public face of the crypto world” has become the consensus of many in the crypto community.Elon Musk’s attitude towards cryptocurrencies is also directly reflected in his companies and products, and his interest in the cryptocurrency industry has been evidenced since 2014, whether it’s the fact that “X” (formerly: Twitter) users have had to pay to use NFT as a profile picture, or joining in on the “Bitcoin ETF” discussion of Spaces voicemail space.There was an incident where Tesla spent $1.5 billion on BTC, which sent the price of BTC to an historical high.But Elon Musk’s attitude towards Bitcoin was not always so friendly and positive, he used to be sceptical about Bitcoin, and there have been quite a few reversals and contradictions over the course of the decade.This article will review the history of the evolution of Elon Musk’s attitude towards Bitcoin over the past ten years, as one of the world’s most recognised tech leaders in the civilian sector, Elon Musk’s attitude is arguably a microcosm of the world’s changing attitudes towards the crypto industry.<img src="https://miro.medium.com/v2/resize:fit:875/1*EckLeqH5XKu9_9qc84xjmg.png" /><h2 id="header-1">2014: Sceptical about Bitcoin and denied he held the cryptocurrency</h2>Elon Musk’s history with Bitcoin dates back to March 2014, when a Twitter user asked him where he stood on the cryptocurrency, and he gave the elusive response, “Well, now that Satoshi Nakamoto has been found out, I guess that closes the case.”In the same year, he was interviewed by the Wall Street Journal and when asked if he held any bitcoins, he replied, “I don’t actually have any.” He also said that Bitcoin deserves credit for its technology, but was sceptical about its security, and said, “I don’t know if it’s going to be a long-term currency, or just a short-term phenomenon that could be hacked, or banned by the government, or replaced by some other cryptocurrency.”Even, at a summit, Elon Musk was asked by the moderator what he thought of Bitcoin, and he said that it could be a good thing, then added, “It’s mostly used for illegal transactions.”<h2 id="header-2">2017: Expressed concern about Bitcoin and denied being Satoshi Nakamoto</h2>2017 was a major milestone for Bitcoin, a year that saw its price break $1,000 for the first time and then soar all the way to an all-time high of nearly $20,000.This is also the year that the identity of Satoshi Nakamoto, the founder of Bitcoin, has become a hot topic, with some speculating that Satoshi Nakamoto may be a team rather than a single person, and also some speculating that Satoshi Nakamoto may be a number of well known techies, such as Elon Musk.The rationale for this speculation is that Elon Musk has a deep tech background, having been involved in the founding of PayPal, and has a crypto-currency interest in cryptocurrencies, and that his style is similar to Satoshi Nakamoto’s thesis.<img src="https://miro.medium.com/v2/resize:fit:866/1*6_zMKZbyUU3CIRyliDDXxA.png" /><h2 id="header-3">2018: Jokingly supporting dogecoins</h2>In 2018, the price of Bitcoin fell sharply from its high point, once fell below $4,000, which was called the “ winter of cryptocurrency “. In this year, Elon Musk did not have much to say about bitcoin, but he began to show interest in another cryptocurrency, that is, Dogecoin.Elon Musk also said self-deprecatingly, “Dogecoin is probably my favourite cryptocurrency, it’s cool and fun.”However, at that time, widespread industry insiders believed that it was an attempt by Elon Musk in the crypto field, Dogecoin brought huge profits for Elon Musk, and it was no surprise Elon Musk would go deeper into the crypto field.<h2 id="header-4">2019: First Expression of Affirmation for Bitcoin</h2>In 2019, Elon Musk’s stance on cryptocurrencies shifted for the first time, when recording a podcast with tech investment firm ARK, Elon Musk called Bitcoin brilliant and that “paper money is disappearing, and cryptocurrencies are a much better way of transferring value than pieces of paper, that’s for sure.”In less than a year, Elon Musk’s change of attitude also confirmed the speculation of the industry at the time, Dogecoin is an “experiment”.On the same day, Elon Musk tweeted to Mike Sailer, the CEO of Microstrategy, a publicly traded company that had previously bought large amounts of Bitcoin, asking about the possibility of converting “large transactions” on Tesla’s balance sheet to Bitcoin. Sailer replied, “I’d be willing to share my script with you offline.”A month later, Elon Musk updated his tweet to read “#bitcoin,” prompting a number of big figures to follow suit. A later study showed that Elon Musk’s act pushed the price of bitcoin up by 18.99 %.In February 2021, Elon Musk appeared on audio social media platforms, this time very clearly confirming that he was a supporter of Bitcoin: “Bitcoin is a good thing …… I’m late to this party.”Later that month, Elon Musk honoured his original promise and Tesla announced a $1.5 billion investment in Bitcoin. Mike Sailer was delighted, stating that there would be a large number of companies following in Tesla’s footsteps, and indeed a number of companies did include Bitcoin as an investment target, including magazine publisher TIME, Norwegian multinational Aker ASA.However, at the end of the first quarter of 2021, Tesla’s earnings report showed that the company sold $272 million worth of bitcoin. In response, Elon Musk clarified on Twitter that Tesla did this “essentially to demonstrate that Bitcoin is liquid enough to replace cash on the balance sheet.”However, Elon Musk’s attitude took a dramatic reversal in May 2021, when Elon Musk suddenly announced that Tesla had suspended its plans to use Bitcoin to purchase cars due to concerns that Bitcoin mining and trading would lead to a massive consumption of fossil fuels and negatively impact the environment.Elon Musk has also had heated arguments with some Bitcoin advocates and developers, and has even been accused of being a “betrayer” and “manipulator”.Apparently, Elon Musk’s stance on Bitcoin at this point in time is more volatile than the price of Bitcoin.<h2 id="header-5">2024: A more open attitude</h2>After the United States Securities and Exchange Commission approved the Bitcoin ETF, Elon Musk briefly joined a Spaces chat on X called “Bitcoin ETF” for 10 minutes.Elon Musk said that as a high-volume trading system, (Bitcoin) it’s not a good fit. It’s very good for scarcity, like gold or something like that.I am open to using Bitcoin ETFs. As I said, of the various things I’ve considered, I’ve given very little thought to bitcoin ETFs. But I have given a lot of thought to the monetary system, and the actual exchange operations.ConclusionElon Musk’s history of evolving attitudes towards Bitcoin is a reflection of the deepening and changing nature of his knowledge and understanding about Bitcoin, and a microcosm of the world’s deepening knowledge and understanding of cryptocurrencies, which in another way is a mirror image of the evolving and changing nature of Bitcoin’s growth and challenges.<img src="https://miro.medium.com/v2/resize:fit:875/1*LWypv9IbSXHzLgHgy1wIwQ.png" />

Elon Musk’s Changing Attitude Towards BTC Over the Decade: From Remaining Sceptical to Long-Term Holding

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