- Elon Musk shared his thoughts on the use of Bitcoin with Cathie Wood of Ark Invest.
- In a Spaces conversation, Musk said he is open to using Bitcoin on X.
- Musk revealed that SpaceX owns Bitcoin, while sharing his optimism on the asset.
Ark Invest CEO Cathie Wood hosted a Spaces discussion on the latest developments in Bitcoin. Elon Musk joined the conversation and shared his views on BTC. The X owner is not opposed to the idea of using Bitcoin on the platform, however he considers it similar to Gold.
Bitcoin could be used on X, Musk shares positive views on BTC
Bitcoin Spot ETF approval by the Securities and Exchange Commission (SEC) ushered in optimism among market participants. The CEO of Ark Invest, one of the issuers that welcomed the SEC approval, hosted a Space on X, where Woods was joined by X owner, Elon Musk.
— Cathie Wood (@CathieDWood) January 10, 2024
Woods and the teams at Ark Invest and 21Shares shared their optimism on Bitcoin. Musk didn’t discount the idea of using Bitcoin on the platform. The X owner maintained a positive stance on the largest cryptocurrency by market capitalization.
Musk revealed that he holds Dogecoin, and SpaceX, Musk’s American Spacecraft Manufacturer business, holds Bitcoin.
On Tuesday, Musk reacted to the SEC’s false Bitcoin ETF approval tweet with his response to a tweet that called users to guess the regulator’s password on X.
LFGDogeToTheMoon!!
— Elon Musk (@elonmusk) January 9, 2024
Though Musk shared that he is open to the idea of using Bitcoin for payments on X, it is important to note that the Tesla CEO believes that BTC is similar to Gold and not best suited for payments.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.
If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.
The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.
Recommended Content
Editors’ Picks
Shiba Inu eyes positive returns in April as SHIB price inches towards $0.000015
Shiba Inu's on-chain metrics reveal robust adoption, as addresses with balances surge to 1.4 million. Shiba Inu's returns stand at a solid 14.4% so far in April, poised to snap a three-month bearish trend from earlier this year.
AI tokens TAO, FET, AI16Z surge despite NVIDIA excluding crypto-related projects from its Inception program
AI tokens, including Bittensor and Artificial Superintelligence Alliance, climbed this week, with ai16z still extending gains at the time of writing on Friday. The uptick in prices of AI tokens reflects a broader bullish sentiment across the cryptocurrency market.
Bitcoin Weekly Forecast: BTC consolidates after posting over 10% weekly surge
Bitcoin price is consolidating around $94,000 at the time of writing on Friday, holding onto the recent 10% increase seen earlier this week. This week’s rally was supported by strong institutional demand, as US spot ETFs recorded a total inflow of $2.68 billion until Thursday.
XRP price could renew 25% breakout bid on surging institutional and retail adoption
Ripple price consolidates, trading at $2.18 at the time of writing on Friday, following mid-week gains to $2.30. The rejection from this weekly high led to the price of XRP dropping to the previous day’s low at $2.11, followed by a minor reversal.
Bitcoin Weekly Forecast: BTC consolidates after posting over 10% weekly surge
Bitcoin (BTC) price is consolidating around $94,000 at the time of writing on Friday, holding onto the recent 10% increase seen earlier this week.
The Best brokers to trade EUR/USD
SPONSORED Discover the top brokers for trading EUR/USD in 2025. Our list features brokers with competitive spreads, fast execution, and powerful platforms. Whether you're a beginner or an expert, find the right partner to navigate the dynamic Forex market.