Elon Musk acknowledges that he owns Ethereum, causing the cryptocurrency to rise in value
Ehtereum, the second-most valuable cryptocurrency in the world, right behind Bitcoin, has managed to rise in value after Elon Musk has confirmed that he owns it at the B Word crypto conference. What’s even better is the fact that Ethereum had a positive rally up until that point, but after the nod by Elon Musk, it managed to rise over $2,000.
During the B Word conference, Elon Musk also shared a few words on Bitcoin and how Tesla is likely to accept this cryptocurrency again.
Ethereum Has Been Having A Fluctuating Period
The surge in value of Ethereum is definitely good news and it is amazing how influential Elon Musk is when it comes to the world of cryptocurrency. Him stating that he owns Etehreum and thus, causing this cryptocurrency to rise is definitely good news, especially after recent events.
In mid-July 2021, Ethereum’s co-founder, Anthony di Iorio, announced that he will be leaving the crypto world and cutting all ties with Ethereum. Additionally, he stated that he will be selling all of his assets and focus on other projects that do not have anything related to crypto, as well as philanthropy.
In his words, the main reason why di Iorio decided to sell his Ethereum assets was safety concerns. Now, he did not mention whether he received some kind of threat on his life, but he was adamant that leaving the crypto world was the only way to remain safe.
Just a reminder, di Iorio has been traveling around the world with a security team ever since 2017. On the situation, di Iorio commented that he does not want to be remembered as a crypto guy, but rather as a person who is known for tackling complex problems.
Elon Musk Had a Lot of Praise For Cryptocurrency at the Conference
During the B Word crypto conference, Elon Musk has stated a few times how he supports cryptocurrencies but pointed out the fact that one of the things that everyone should be careful of with crypto, especially Bitcoin, is the energy that they use. Research shows that crypto mining does use a lot of energy and that is potentially harmful to the environment.
As mentioned earlier, during the B Word conference, Musk stated that he owns Ethereum, but he also shared that he is planning on accepting Bitcoin as a payment method at Tesla once again, and added that he also owns Dogecoin.
Finally, Elon Musk acknowledged the fact that he may pump cryptocurrencies, but he never dumps them. The reason why is that he does not look at cryptocurrencies, especially Bitcoin, as a way to make a profit. Instead, he really wants them to succeed.
Ethereum was created back in 2013 and unlike other cryptocurrencies, it has a different goal. While most digital assets aimed to be an alternative to regular payment methods, Ethereum’s vision remains much broader. This is not just a cryptocurrency, it is a whole decentralized network that plans to replace the Internet and thus, provide users with a higher security level and better transparency.