Elon Musk, the co-founder and CEO of Tesla and other innovative companies, revealed on Twitter he owns Bitcoin (BTC). Moreover, he stated that due to the large amount of money governments are printing, Bitcoin is becoming solid money on the internet. This is a similar view to the one that Jack Dorsey, the CEO of Twitter has regarding Bitcoin being “internet money.”
He stated all of this during a conversation with J.K. Rowling, the author of the Harry Potter books, which became famous during the late nineties and the 2000’s.
Elon Musk Explains Bitcoin to J.K. Rowling
The cryptocurrency community got involved in a conversation with J.K. Rowling, the author of Harry Potter and many other books. She started writing on Twitter with Leigh Cuen, a journalist at Coindesk, in which J.K. Rowling asked her to explain how Bitcoin works and what is it.
I don’t understand bitcoin. Please explain it to me.
— J.K. Rowling (@jk_rowling) May 15, 2020
Obviously, Rowling’s tweet had a large impact: more than 2.5 thousand answers, 2,2 thousand retweets and over 8,4 thousand likes. Many Bitcoin and crypto community members started answering with their own definition of Bitcoin and how it works.
In another tweet, Rowling continued talking about Bitcoin and the answers kept coming, even from Elon Musk. In a tweet that received more likes than the original J.K. Rowling tweet, Musk wrote that he only owns 0.25 BTC and that the large printing from governments is helping Bitcoin internet money “look solid.”
On the matter, Musk wrote:
“Massive currency issuance by government central banks is making Bitcoin internet money look solid by comparison. I still only own 0.25 Bitcoins by the way.”
I still only own 0.25 Bitcoins btw
— Elon Musk (@elonmusk) May 15, 2020
Bitcoin has been expanding all over the world in the last years. Back in December 2017, the largest digital currency reached a price per coin of $20,000. Now, with the Coronavirus crisis and the monetary expansion pushed by governments, many consider that it may be possible for Bitcoin to move to higher prices.
Moreover, a few days ago, Bitcoin halved, meaning that the new issuance of Bitcoin got reduced by 50% from 12.5 BTC every ten minutes to 6.25 BTC per block. At the time of writing this article, Bitcoin is being traded close to $9,400 and it has a market valuation of $173 billion.