Elon Musk And Bitcoin- How It All Started?

Bitcoin originated by a Japanese group, and the group leader is named Satoshi Nakamoto, who disappeared after two years of the bitcoin release. Bitcoin is the topmost cryptocurrency present in the industry at the instance as the market cap, trading volume, and user base is just double from the second leading cryptocurrency, ethereum.

 Bitcoin acquired the attention of mainstream market players in the year 2017 as several sports organizations paid the salary of their players with bitcoin. However, the popularity of bitcoin is skyrocketed subsequent to Elon musk’s statement on bitcoin. Elon is undeniable responsible for making bitcoin popular across the globe. 

Regardless of political freedom and liberty, the value of bitcoin is impacted and influenced by media reports and statements of renowned players regarding bitcoin. However, there are websites like B Trade Signal Pro which can help in getting productive results in your bitcoin expedition. Elon musk is alleged to intentionally influence the value of bitcoin through his Twitter handle, but is it true? Let’s find out.

Elon Musk Interest in Bitcoin!

Elon Musk is the founder of tesla motors who correspondingly the utmost popular e-banking method named PayPal. After selling PayPal, Elon blazed the trail of tesla motors, the foremost years of tesla motors were a bit bumpy as it did not acquire that amount of popularity. Still, later everyone recognized the potential of tesla automobiles and the optimistic future of electric cars. 

Bitcoin was invented in the year 2008 and was released in the year 2009. However, it acquired the limelight in 2017 as several market players invested a gigantic buck in bitcoin. The fact might amaze you that bitcoin drove the interest of Elon musk a bit late, as Elon musk discussed in the last months of 2020. You might be familiar with the fact bitcoin market crashed in the foremost glance of 2020. 

Elon Musk Views on Bitcoin 

However, after getting interested in the bitcoin network, Elon blazed the trail of sharing his views on bitcoin. He represented his views on bitcoin through humorous memes and funny pictures, and from that is where it all started. After noticing the interest of Elon musk in bitcoin, the founder of micros strategy replied to his meme that it would be best if Elon musk invests a considerable amount in bitcoin.

Michael Saylor, the co-founder of micros strategy, was recently in the news after fixing a meeting of bitcoin miners and Elon musk; the fact might stun that he was the only individual who asked Elon musk to transform the sense of balance from fiat currency into bitcoin as it would be best for bitcoin investors. Elon musk was shocked after knowing the fact that bitcoin is able to carry that amount of transaction without any restriction. 

All the more, rather than just sharing a meme on his Twitter handle in a room of clubhouse, Elon musk stated that bitcoin is good and is the optimistic future of digitalization. Subsequent to acknowledging the actual potential of bitcoin. Elon musk decided to invest a gigantic buck in bitcoin. 

Tesla Invested $1.4 Billion In Bitcoin!

In December, a fierce bulletin arrived that tesla motors have converted some extent of the balance sheet in USD, as the company has invested almost $1.4 billion in bitcoin. The announcement impacted the entire cryptocurrency industry in a positive way as the amount of bitcoin surged in an exceeding way. 

Bitcoin Payments

In March 2021, Elon Musk announced that tesla motors would accept bitcoin as a payment method; all the more, he stated that payments made in bitcoin would be retained in bitcoin only. The announcement of acceptance of bitcoin as a payment surged the value of bitcoin. 

However, after few months of the announcement, Elon musk made a shocking announcement regarding bitcoin as a payment method in tesla motors as he announced that bitcoin would not be accepted as a payment method anymore. The prominent address he addressed was fossil fuel burning due to bitcoin mining. 

The tweet of Elon musk declined the value of bitcoin to an exceeding extent, and the announcement of china on cryptocurrency crackdown alongside the reversal tweet of Elon musk on bitcoin led to the market crash. However, after the market crash, he tweeted few tweets in favor of bitcoin only. 

This is everything you should know about bitcoin and Elon mus.