Tesla Billionaire Elon Musk On Bitcoin

Billionaire Tesla CEO Elon Musk discussed Bitcoin during a live-streamed session of The ₿ Word event, saying that he supports and holds the original cryptocurrency, as does his aerospace company SpaceX.

“[Bitcoin] has an open ledger, which is quite good. But transaction volume is low, transaction cost is high and useability for the average person is not yet very good but has a lot of potential,” Musk said, while wearing a t-shirt that touted Bitcoin as the pinnacle of monetary evolution. “But on balance I support Bitcoin… I do own bitcoin and Tesla owns bitcoin, SpaceX owns bitcoin.

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