It is to be noted that the billionaire's comments have a ripple effect on the financial world.
Bitcoin jumped as much as 14% on Friday after Tesla Inc chief Elon Musk wrote "#bitcoin" in his Twitter biography.
According to Reuters, the world's biggest cryptocurrency was up 10.2% at $36,901 after Musk tagged the cryptocurrency in his Twitter bio.
It is to be noted that the billionaire's comments have a ripple effect on the financial world.
Bitcoin jumped over 300% last year, as bigger U.S. investors and corporations sought exposure to the cryptocurrency. It touched an all-time high of $42,000 last month.
Here is Musk's love affair with Bitcoin
1. Elon Musk's Tesla to engage in Bitcoin transactions?
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Musk, asked the chief executive of MicroStrategy, a business intelligence company that has garnered a lot of attention in recent months by buying over $1 billion worth of bitcoin, asked if it was possible to convert billions of Tesla's dollars to bitcoin.
2. Musk tells author of Bitcoin Billionaires how much he loves Bitcoins
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Musk responded to a tweet by Ben Mezrich, the author behind the movie The Social Network and writer of Bitcoin Billionaires, that read "I’m never turning down getting paid in bitcoin again,"
I’ll tell you one thing, I’m never turning down getting paid in bitcoin again.
— Ben Mezrich (@benmezrich) January 8, 2021
Me neither
— Elon Musk (@elonmusk) January 9, 2021
He replied, "Me neither."
3. Mars economy to be based on Bitcoins?
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Human colonies on Mars could be built within our lifetime, according to SpaceX CEO Elon Musk had outlined his vision for a self-sustaining city on the red planet in a study.
Musk floated the idea last year that Mars's economy could be driven by bitcoins.
Marscoin
— Elon's World (@ElonsWorld) December 24, 2020
Yes
— Elon Musk (@elonmusk) December 24, 2020
In the study, Musk explored the planetary options for expanding to a space-bearing civilisation and described the advantages Mars offers. He provided a comprehensive review of a system architecture required for a rocket and spaceship capable of transporting people and supplies to Mars, comparing possible vehicle designs and performance features.
4. Elon Musk revelas Bitcoin holdings to JK Rowling
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Despite aiming to sell all his physical possessions, Tesla and SpaceX CEO Elon Musk has revealed his Bitcoin (BTC) holdings in a Twitter session with Harry Potter-famed British author JK Rowling.
In response to a request from Rowling for Twitter to explain Bitcoin to her, Musk said: "Massive currency issuance by govt central banks is making Bitcoin Internet money look solid by comparison".
People are now explaining Bitcoin to me, and honestly, it’s blah blah blah collectibles (My Little Pony?) blah blah blah computers (got one of those) blah blah blah crypto (sounds creepy) blah blah blah understand the risk (I don’t, though.)
— J.K. Rowling (@jk_rowling) May 15, 2020
Pretty much, although massive currency issuance by govt central banks is making Bitcoin Internet money look solid by comparison
— Elon Musk (@elonmusk) May 15, 2020
I still only own 0.25 Bitcoins btw
— Elon Musk (@elonmusk) May 15, 2020
He added: "I still only own 0.25 Bitcoin btw".
5. Musk has founded eight companies
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The billionaire businessman is the founder of eight companies namely Tesla, SpaceX, Hyperloop, OpenAI, Neuralink, The Boring Company, Zip2, PayPal.
6. Musk receives no salary
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Though Elon Musk the majority owner and CEO of the SpaceX rocket maker he draws no salary from the company.
