Bitcoin
Bitcoin
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The price of Bitcoin is within reach of $70,000 per Bitcoin, the all-time high of $73,000 hit earlier this year on the back of BlackRock's Bitcoin and the Wall Street revolution in cryptocurrencies. is slightly below.
Tesla CEO Elon Musk says cryptocurrencies are “interesting and probably has value” as one legendary billionaire investor predicts the market will “collapse.”
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Tesla CEO Elon Musk said he thinks cryptocurrencies are “valuable” and “interesting.” … [+]
Speaking at former President Donald Trump's campaign rally in Pittsburgh, Musk responded to a question from an attendee about whether the cryptocurrency XRP is valid: “Cryptocurrency is interesting and perhaps a valuable bulwark against central control.'' I think so.''
XRP
“Cryptocurrencies, by their very nature, support individual freedom,” Musk said, adding that he was not endorsing XRP or any other cryptocurrencies in particular.
Musk later said he was “not actively involved in cryptocurrencies,” adding that blockchain, the technology behind Bitcoin and other cryptocurrencies, could be used in future elections to reduce or eliminate voter fraud. He avoided questions about whether he could.
Musk has been a key driver of the coronavirus-era Bitcoin and crypto market boom, posting regular posts about Bitcoin and cryptocurrencies, but has recently turned his attention to criticism of US spending. has repeatedly warned that the United States is heading toward the brink of “bankruptcy.”
Musk has agreed to lead President Trump's proposed so-called “Department of Government Efficiency.” The ministry is called “Doge”, a reference to the meme that is also the basis of the cryptocurrency Dogecoin.
The cryptocurrency Dogecoin, a cynical rival to Bitcoin that Musk has semi-adopted in recent years, soared 25% in value last week after comments from Musk's Doge division — billionaire Mark Cuban He made fun of this comment, saying that if Donald Trump retakes the White House next month, Musk could “park Dogecoin in the U.S. Treasury.”
Mr. Musk sparked a Bitcoin price panic last week when electric car companies suddenly moved their remaining Bitcoins.
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Bitcoin prices have soared to an all-time high of around $70,000 per Bitcoin this year. … [+]
Musk's Tesla is believed to own about 11,500 bitcoins worth about $800 million, and has moved the bitcoins to a new address, according to blockchain experts at Arkham Research. This is the first time in two years.
Tesla is known to hold approximately 10,000 Bitcoins, but Arcam analysts identified 68 addresses believed to be controlled by Tesla, bringing the total number of Bitcoins to 11,500. Ta.
The bitcoins were likely moved either for over-the-counter sales or in preparation for over-the-counter sales, but some have speculated that they may have been moved to another custodial wallet for safekeeping.
In early 2022, Musk sold most of the $1.5 billion in Bitcoin he added to Tesla's balance sheet in early 2021 to secure Tesla's quarterly profit. Tesla is scheduled to announce its 2024 third-quarter financial results after the market closes next Wednesday, October 23rd.
