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Is Elon Musk Once Again Campaigning for Bitcoin?

Elon Musk has been in the news lately for putting off Bitcoin maximalists after his anti-Bitcoin remarks in the last few months. The Tesla CEO has been pitted right alongside the Chinese government for causing a crash in the Bitcoin market. However, Musk recently posted a new meme on his Twitter profile that is seen as a sign of a return to the Bitcoin bull territory.

The meme shows people are talking about having trust in government officials and policies. On the other hand, Musk has portrayed himself as a canine with one too many beers. On the other hand, Mrs. Musk can be seen preventing her husband from spilling the beans in front of the loyal federal crowd. According to crypto experts, Bitcoin is the peer-to-peer payment protocol that presents the biggest threat to fiat stability and centralized channels.

Tesla CEO Confirms that He Owns Bitcoin Among other Cryptocurrencies

As soon as the new meme hit the market, many crypto enthusiasts started to send Elon Musk memes about the Shiba Inu spin-offs and Dogecoin. At present, Musk is known in the crypto community to be the biggest proponent of Dogecoin. At the start of the year, he stepped into the crypto territory by investing in Bitcoin. Tesla announced in February that it would start accepting Bitcoin as payment.

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However, by the end of the first quarter, Tesla took back the decision, much to the dismay of many Bitcoiners. Musk informed the crypto community that Tesla would only resume Bitcoin payment if more than 50% of the mining rigs are converted to green energy. At the B-word conference, the electric car manufacturer confirmed that he holds BTC, DOGE, and ETH. He further added that both Tesla and SpaceX have added Bitcoin to their balance sheets and are not planning to sell.

The B-word conference arranged by Twitter CEO Jack Dorsey was held with great success last Wednesday. During a Zoom conference, Musk has told Dorsey that the necessary due diligence has been done by the miners. He claimed that the biggest changes could be seen as some of the heavy-duty coal plants in China have been sealed definitely.  He also repeated his previous intentions to restore Bitcoin payment if the miners can cut down the carbon pollution ratings. In the same fashion Bitcoin Mining Council recently published a report that confirms that about 56% of the crypto miners have moved on to green energy sources.

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Hassan Mehmood (Saudi Arabia)

Hassan is currently working as a news reporter for Tokenhell. He is a professional content writer with 2 years of experience. He has a degree in journalism.

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