But on Wednesday, Musk aimed to clarify that he’s both a crypto investor and supporter.
But, ultimately, Musk said at the event that his financial success is partly tied up with the performance of such digital currencies. And in Musk fashion, he phrased it in a way that could draw the attention of regulators.
“If the price of bitcoin goes down, I lose money,” Musk said. “I might pump, but I don’t dump. … I definitely do not believe in getting the price high and selling, or anything like this. I would like to see bitcoin succeed.”
“Tesla’s mission is accelerating the advent of sustainable energy. We can’t be the company that does that and also not do appropriate diligence on the energy usage of bitcoin,” Musk said. “Now, it looks like bitcoin is shifting a lot more to renewables.”
“Just imagine all the unused energy that is being wasted every single day, and being able to get energy and converting it into a secure, sound money system for the planet,” Dorsey said.