Elon Musk, the CEO of SpaceX, said the company has bought bitcoin while speaking at the B word digital conference this Wednesday.⁠

“I do own bitcoin and Tesla owns bitcoin, SpaceX owns bitcoin,” Musk said. “I emphasize SpaceX, Tesla and I own bitcoin, I also own some eth and doge, SpaceX and Tesla own only bitcoin.”⁠

This is the first time it has been revealed that SpaceX, the private company itself, owns bitcoin with Musk not specifying just how many or when they bought.⁠

It may well be around the same time Tesla did back in February when they bought $1.5 billion worth of bitcoin, but no further information is known except the now confirmed fact that SpaceX has bitcoin in its treasury reserves.⁠

The reason may be due to negative interest rates particularly in Europe with Musk expressing incredulity that the balance in the bank account shrinks.⁠

He said it is somewhat bearable when you get 1% on your savings while inflation is 2%, but seeing the capital itself go down is very much something else.⁠

However this was in a general discussion, not specific to SpaceX’s decision to hold bitcoin, with Musk mentioning that more in the context of stating he is a supporter of bitcoin as he, SpaceX and Tesla holds it.⁠

“You know, I might pump, but I don’t dump,” Musk said following a spring and summer of speculation regarding whether Tesla sold.⁠

It now appears very clear: not only Tesla hasn’t sold, but SpaceX has bought as Musk says he wants to see bitcoin succeed.⁠


Leave a reply

Your email address will not be published. Required fields are marked *