Share this article
'A Good Thing': Elon Musk Says He's a Supporter of Bitcoin
It would be the most "entertaining and ironic outcome" if dogecoin "becomes the currency of [E]arth in the future," Musk also said.
Updated Sep 14, 2021, 11:03 a.m. Published Feb 1, 2021, 9:09 a.m.
Tesla and SpaceX CEO Elon Musk has clarified that he is a bitcoin supporter, if a bit "late to the party."
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
Talking on invitation-only audio-chat app Clubhouse on Monday, Musk said, “I should have bought [bitcoin] eight years ago ... I do at this point think bitcoin is a good thing. I am a supporter."
The Tesla CEO further said bitcoin, the top cryptocurrency by market cap, is "on the verge of getting broad acceptance by conventional finance people." He added that he did not have a “strong opinion on other cryptocurrencies.”
Musk did address popular meme-friendly cryptocurrency dogecoin, saying he occasionally makes jokes about the coin. While dogecoin is "made as a joke," he said, it would be the most "entertaining and ironic outcome," if DOGE became the "currency of [E]arth in the future."
“Fate loves irony,” he said.
In the past, Musk has sometimes teased the crypto community by name-dropping bitcoin and dogecoin, but never clarified if he is a supporter any cryptocurrency.
Read more: Bitcoin Falls Back to $32K as Elon Musk’s Bio Change Fades Into Memory
The new comments come several days after Musk changed his Twitter bio to read "Bitcoin," prompting a 15% rise in the price of the cryptocurrency. The sudden rise also caused the liquidation of $387 million worth of bitcoin short positions.
At press time, bitcoin is up 2.2% over 24 hours at $34,376.
More For You
What to know:
- As of October 2025, GoPlus has generated $4.7M in total revenue across its product lines. The GoPlus App is the primary revenue driver, contributing $2.5M (approx. 53%), followed by the SafeToken Protocol at $1.7M.
- GoPlus Intelligence's Token Security API averaged 717 million monthly calls year-to-date in 2025 , with a peak of nearly 1 billion calls in February 2025. Total blockchain-level requests, including transaction simulations, averaged an additional 350 million per month.
- Since its January 2025 launch , the $GPS token has registered over $5B in total spot volume and $10B in derivatives volume in 2025. Monthly spot volume peaked in March 2025 at over $1.1B , while derivatives volume peaked the same month at over $4B.
More For You
Coinbase Sees Crypto Recovery Ahead as Liquidity Improves and Fed Rate Cut Odds Climb
The crypto exchange also took note of a so-called AI bubble that continues to go strong and a weaker U.S. dollar.
What to know:
- Coinbase Institutional is seeing a potential December recovery in crypto, citing improving liquidity and a shift in macroeconomic conditions that could favor risk assets like bitcoin.
- The firm's optimism is driven by rising odds of Federal Reserve rate cuts, with markets pricing in a 93% chance easing next week, and improving liquidity conditions.
- Several recent institutional developments, including Vanguard's crypto ETF policy reversal and Bank of America's greenlighting of crypto allocations, have contributed to bitcoin's rebound from recent lows.
Top Stories
