Analytics / Forex and Crypto News
Yesterday's B Word conference had a positive impact on the cryptocurrency market. Thanks to the conference, the price of Bitcoin was able to rise above $3200, and the price of Ethereum again reached $2000.
During the conference, Elon Musk confirmed that he also uses cryptocurrencies. And his personal cryptocurrency portfolio consists of Bitcoin, Ethereum and Dogecoin. At the same time, it was distributed as follows: Bitcoin makes up the majority, then Ethereum and then DOGE. DOGE cryptocurrency occupies the smallest part of his portfolio, despite the fact that Elon Musk is a big fan of this cryptocurrency. At the same time, Musk did not specify exactly how many coins he has and how much money he invested in cryptocurrencies.
In addition, Elon Musk stressed that Tesla and SpaceX are also considering Bitcoin as a means of payment. Moreover, Tesla has already invested $1,5 billion in Bitcoin and sold cars for Bitcoin. But then stopped it, explaining it by concern for the environment. That being said, Tesla is sticking to its intentions to resume selling Tesla cars for Bitcoin when miners start using more renewable energy for mining.
However, the amount SpaceX has invested in Bitcoin is a mystery.
During the conference, Elon Musk also emphasized the importance of Bitcoin, but stressed that Bitcoin cannot be a global monetary system at a basic level. SpaceX sees the future of Bitcoin at a second level, and is also instrumental in realizing that vision.
Investment bank JPMorgan has released a report on the state of the cryptocurrency market in the second quarter of 2021. The report noted that as a result of a sharp decline in the price of cryptocurrencies in April and May of this year, institutional investors began to massively sell Bitcoins