Elon Musk has fun playing with cryptocurrency. Is Elon Musk a businessman? How many coins does he have? This question may cross your mind.
According to CNBC’s Make It, during the ‘The B-Word’ conference Elon Musk admitted personally that he owns the cryptocurrency and that he keeps it for a long time.
"If the price of bitcoin goes down, I lose money. I might add, but I don't let it go. I really didn't expect to get a high price and sell or anything like that. I want to see Bitcoin succeed," the 50-year-old said. it admits.
While experts warn that cryptocurrency is a risky speculative investment, if you own or want to buy bitcoin, a long -term holding strategy like Musk is considered the best method to play crypto.
"That's definitely the best strategy if you want to own Bitcoin," Amy Arnott, portfolio strategist at Morningstar, told CNBC Make It.
“The problem with trading based on daily or weekly price movements is that it’s so volatile that you can easily see it,” he explained. He also recommends investing for at least 10 years.
In addition to Bitcoin, Elon Musk also claims to own crypto Ethereum and Dogecoin. Even so, he did not divulge how many coins he owned. As for SpaceX, a company operating in the space sector, he also confirmed that his company still has Bitcoin.
Recently, Elon Musk also said that Tesla has once again accepted Bitcoin for transactions at its electric car company.
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CYBER LIFE