Musk Bets on Bitcoin's Mainstream Future
Tesla CEO Elon Musk has confirmed his support for Bitcoin and predicted it will achieve 'broad acceptance' in conventional finance circles.
Musk, who admitted he's late to the party, expressed regret that he didn't buy crypto years ago. He revealed that in 2013, many friends tried to convince him to invest in cryptocurrency, but he didn't take the plunge until later.
The entrepreneur was hesitant to share his opinions on other cryptocurrencies, except for Dogecoin, which he jokingly said could become the currency of Earth in the future. He emphasized that his comments about DOGE are meant as jokes, despite its popularity and price surge.
Musk acknowledged the power of his Twitter influence after he added #bitcoin to his bio last Friday, causing a rapid increase in BTC's price. Although the crypto markets seemed relatively calm following his remarks, Dogecoin has seen significant gains, with its price up 34% over the past 24 hours and 358% over the week.