As part of The B Word conference, Elon Musk announced his space company SpaceX’s investment in the first cryptocurrency.
“I own bitcoin, Tesla owns bitcoin, SpaceX owns bitcoin,” he said.
Musk also said he owns Ethereum and Dogecoin.
As of this writing, bitcoin is trading at $32,000. The asset is up 8% overnight, according to CoinGecko.
The price of Dogecoin soared 18% overnight. As of this writing, the DOGE token is trading at $0.2, according to CoinGecko. The second most capitalized cryptocurrency is worth $2,000.
According to The B Word’s official website, the conference aims to explain “how institutions can start accepting bitcoin and how we can all support the network.”
Joining Musk at the event were Twitter founder Jack Dorsey and Katie Wood, head of asset management firm ARK Invest.
Recall that on February 8, 2021, the head of Tesla announced a $1.5 billion investment by the electric car manufacturer in bitcoin. Musk later called the decision “quite risky.”
In late March, Tesla began selling electric cars for bitcoin, and at the end of April it disposed of $272 million worth of digital gold.
On May 13, the company suspended sales of electric cars for the first cryptocurrency because of concerns about the environmental friendliness of mining. The price of the asset reacted with a fall, and the community reacted with criticism.