‘I might pump but I don’t dump’: Elon Musk outlined his broad approach to crypto investing in a panel also featuring Cathie Wood and Jack Dorsey

SourceBusiness Insider
SectorFinancial Markets
CountryMiddle east

Elon Musk on Wednesday detailed his thoughts on cryptocurrencies, saying on a live panel that he is a supporter of bitcoin and would like to see the asset succeed. “If the price of bitcoin goes down, I lose money. I might pump but I don’t dump,” Musk said during “The B Word” event, which also featured Twitter chief Jack Dorsey and Ark Invest CEO Cathie Wood.

He continued: “I definitely do not believe in getting the price high and selling or anything like that. I’d like to see bitcoin succeed.” The Tesla boss also admitted that he holds “far more” bitcoin than dogecoin or ether. “The doge community I think is somewhat irreverent obviously … and it doesn’t take itself too seriously,” he said. “The most ironic and entertaining outcome would be that the cryptocurrency that was started as a joke to make fun of cryptocurrencies ends up being the leading cryptocurrency.” Apart from cryptocurrencies, he said he only owns...read more...