“Nothing is off limits,” was the phrase quoted during the presentation “Bitcoin as a tool for economic empowerment” at the online event “The B Word” on Wednesday.
The B Word It was held yesterday with the participation of the biggest and most prominent figures in the world of cryptocurrencies, . Jack Dorsey, CEO of Square and Twitter, Cathi Wood, founder and CEO of ARK Invest and Elon Musk, owner and CEO of Tesla and SpaceX were in charge of the panel “Bitcoin as a tool for economic empowerment”, which focused on debunking several of the myths and misconceptions surrounding this cryptocurrency.
During the event, experts explained the potential of Bitcoin as a tool for autonomy and empowerment and invited businesses and companies to educate themselves on the subject, to consciously adopt it and ensure its development and innovation in the future.
The goal of The B Word is to destigmatize the dominant misconceptions surrounding Bitcoin and unify society around the benefits and use of this cryptocurrency, to minimize the conflicting opinions between fans and pro-crypto skeptics.
One of the most eye-catching speakers during the online event was Elon Musk. The entrepreneur revealed that his company SpaceX has investments in bitcoin. For their part, Dorsey and Wood focused more on talking about bitcoin as an innovative tool for freedom, capable of transforming everything in its path, and not just financial systems.
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SpaceX has investments in Bitcoin
Elon Musk, the CEO of SpaceX and Tesla, made a new move into the crypto ecosystem when he revealed that his aerospace company SpaceX has investments in Bitcoin, while Tesla is considering accepting payments in BTC again. The electric car company will likely resume Bitcoin payments when it proves that the cryptocurrency uses more than 50% renewable energy for its operations, Musk said last month.
During his participation in the digital event “The B Word”, Musk spoke more favorably about Bitcoin (BTC), compared to his statements in recent months. The entrepreneur said that his companies, both the electric car manufacturer Tesla and his aerospace company SpaceX, have significant investments in bitcoin, as does he on a personal level.
Musk stated that “SpaceX owns Bitcoin”, like Tesla and him, and although he did not give details about the amounts invested in the market-leading cryptocurrency, he did state that they are significantly higher than the investments made in other cryptocurrencies in the industry.
In addition to investing part of his personal capital in bitcoins, Elon Musk also has investments in other cryptocurrencies such as Ethereum (ETH) y Dogecoin (DOGE). The price of ether rose almost 2% after he made these statements.
Musk and volatility
Elon Musk's latest move did not play in favor of the Bitcoin price on the markets this time. In other times, such a comment by the businessman with more than 58,4 million followers on Twitter would have provoked a reaction on the social network and in the price of the cryptocurrency.
It is worth remembering that in recent months Musk has maintained a personality as volatile as the crypto market, supporting and attacking bitcoin and its consensus protocol. Proof of WorkPoW) on several occasions. Due to his behavior, Musk has received a lot of criticism from the community, which has even accused him of being a “hypocrite and manipulator.” The first attack against Bitcoin happened when he announced that Tesla would stop accepting payments in bitcoin within a few months of including it in its systems, citing environmental concerns. On the other hand, SpaceX has dedicated itself more to promoting Dogecoin with the aim of taking it, literally, to the Moon.
At the time of writing, BTC price has recovered by 7% since its drop to $29.000 yesterday, trading at $31.950. Analysts indicate that this recovery may be a market reaction to the “dead cat bounce,” which is explained as a brief bounce before a further drop.
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