Elon Musk Declared he is a Supporter of Bitcoin on Clubhouse Audio Chat

By: Dickson Arinze

February 02, 2021 10:43 AM

World richest person Elon Musk added #bitcoin to his Twitter bio last week, which pushed the digital currency's price up by 20%.

Musk confirmed on clubhouse audio chat app that he is a supporter of bitcoin.

"I've got to watch what I say here because some of these things can really move the market," Musk said. "Many friends of mine have tried to convince me to get involved in bitcoin for a long time."

Elon Musk confirmed he once ate a slice of "bitcoin cake" which a friend gave him by 2013, and that he "clearly should have at least bought some bitcoin eight years ago, in a conversation about being late to the party."

"I do at this point think bitcoin is a good thing, and I am a supporter of bitcoin," Musk added.

"I think bitcoin is really on the verge of getting broad acceptance by conventional finance people."

Musk added that he doesn't have "strong opinion" on other virtual currencies. He has tweeted about the meme-based cryptocurrency dogecoin in the past, and in 2019 he indicated that it was his "fav cryptocurrency."

Cryptocurrency markets were mostly unmoved by Musk's comments, with bitcoin falling slightly shortly after he spoke.

Bitcoin more than quadrupled in price over the course of last year. It then hit a new all-time high of nearly $42,000 at the beginning of 2021. Bullish investors say the flagship cryptocurrency has gotten a boost from increased institutional interest and the perception that it is a safe-haven asset.