Tesla CEO Elon Musk has revealed for the first time that his firm SpaceX owns Bitcoin (BTC).
The company is yet to officially announce how much Bitcoin it has purchased, however Musk’s other company Tesla purchased $1.5B of the cryptocurrency earlier this year which sparked a major Bitcoin price rally.
That rally came to an abrupt end after Tesla stopped taking Bitcoin payments due to environmental concerns, but speaking at “The ₿ Word” — a virtual Bitcoin (BTC) event — the erratic tech billionaire suggested Tesla was on the verge of accepting the cryptocurrency again following promising signs the percentage of renewable energy used for mining was increasing.
The changing narrative of Bitcoin going “green” may help reignite a rally, with Coin Metrics co-founder Nic Carter telling CNBC a few hours ago that BTC’s fundamentals are getting better in terms of sustainability.
Musk appeared alongside Ark Invest CEO Cathie Wood, and Twitter CEO Jack Dorsey, and moderator Steve Lee from Square Crypto. Musk did not reveal any additional details about SpaceX’s purchase apart from saying:
“I do own Bitcoin, Tesla owns Bitcoin, SpaceX owns Bitcoin, and I do personally own a bit of Ethereum and Dogecoin of course.”