Thursday, July 29

Elon Musk drives up the price of ethereum | Digital Trends Spanish

Every time Elon Musk talks about an issue, there are consequences. In this case, these translated into an increase in the price of the cryptocurrency ethereum, after Musk acknowledged that he has some of them in his electronic wallet. Because of these sayings, Ethereum closed Wednesday up 12 percent.

Musk’s statements occurred in the middle of The B Word event, in which he was talking with Twitter creator Jack Dorsey.During the event, the founder of Tesla and SpaceX also stressed his support for cryptocurrencies, beyond the questions that have been made in relation to energy consumption.

Getty Images / Digital Trends Graphic

Both Tesla and SpaceX also own bitcoin. And its founder says he’s had his own bitcoins for a long time and doesn’t think about selling them because while he may lose money when prices drop, his ultimate interest is for bitcoin to succeed.

The main objective of The B Word conference is to clean up the public image of cryptocurrencies, which have received various criticisms due to the energy consumed by mining farms. Without going any further, Tesla suspended bitcoin transactions last March, shortly after announcing that vehicles could be purchased with that currency. But this, according to Musk, could change in the future.

And while Elon Musk gives his full support to cryptocurrencies, the creator of one of them – dogecoin – has expressed his rejection of them, assuring that it is a hyper-capitalist technology that brings nothing good to the world.

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