Billionaire Tesla CEO Elon Musk is an avid lover of cryptocurrency but he holds a less significant amount of BTC especially when compared to his wealth. Nevertheless, the crypto community has now raised their expectation that Musk would be buying a huge amount of Bitcoin as the CEO claims he’s selling all his physical wealth.
I am selling almost all physical possessions. Will own no house.
— Elon Musk (@elonmusk) May 1, 2020
This comes at a time Bitcoin is making a significant run in the market coupled with the upcoming historical halving/halvening event.
Elon Musk owns just 0.25 BTC (circa $2,400 at press time), still crypto enthusiasts have not lost hope in the billioanaire becoming a part of them.
That said, I still only own 0.25 BTC, which a friend sent me several years ago. Don’t have any crypto holdings.
— Elon Musk (@elonmusk) February 21, 2019
While Musk has been known for romancing the crypto space for some time now, a number of crypto icons like Justin Sun have urged the cofounder of OpenAI to vest all or part of his money received after selling his properties in Bitcoin.
This may not be a significant reason to believe the scientist would pour his funds in Bitcoin since Justin Sun and Elon Musk have no mutual relationship, but there are a number of reasons to believe that the 48-year old entrepreneur may vest his fund in Bitcoin or any other cryptocurrency.
Tesla has since last month shutdown factory production owing to the lingering Coronavirus epidemy and the CEO has stated that he’s unclear about when the company will start operation.
After the billionaire CEO tweeted that he’s selling out all his physical possession, he afterward dropped his thought about the value of Tesla TSLA stock.
“Tesla stock price is too high imo,” Musk said.
Nevertheless, he later told The Wall Street Journal that he’s only cracking jokes in the tweet.
The crypto Twitter community nonetheless did not regard his tweet as a joke. The Bitcoin community afterward told Elon Musk that Bitcoin’s price is also too low, and the prominent CEO responded with a statement, in relation to Bitcoin.
Bitcoin price is too low imo
— Bitcoin (@Bitcoin) May 1, 2020
Musk in the tweet asked for the price of some anime Bitcoin, with an illustration of Bitcoin anime girl.
The US Congressional candidate David Gokhshtein who is also a prominent lover of cryptocurrency responded that Elon Musk now has an interest in Bitcoin than ever.
He’s in. 🤙🏻
— David Gokhshtein (@davidgokhshtein) May 2, 2020
While Musk, in his previous tweet announced the selling of his physical wealth, prominent Bitcoin critic Peter Schiff, advised him not to keep his money in fiat. He claimed that cash is the riskiest asset to vest one’s wealth into now.
Hence, a reason for Musk to consider putting his cash in Bitcoin because Bitcoin is now feeling the wave of halving and much is expected of the cryptocurrency in the coming days.
Now that Elon Musk has announced that he’s a father, there is a high probability that he’ll like to keep some assets for his baby.