Crypto Jumps After Elon Musk Confirms He and His Companies Still Own Bitcoin

Bitcoin and other cryptocurrencies rose on Wednesday after Elon Musk confirmed that he and some of his companies are still invested in them.

During a conference hosted by the Crypto Council for Innovation on Wednesday afternoon, Musk doubled down on his support.


“I want to do a little more due diligence to confirm that the percentage of renewable energy usage is most likely at or above 50 percent and that there is a trend toward increasing that number,” he said. “If so, Tesla will most likely resume accepting bitcoin.”

Musk’s confidence in the cryptocurrency sent the price of the coin skyward on Wednesday, reaching a high of about $32,800 USD before tapering downward, according to Coindesk. Ethereum and dogecoin also saw increases of about 13 percent each.

In other news, Musk bought a ticket to fly aboard Richard Branson’s Virgin Galactic spaceflight.
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