These remarks were made during an interview on advisory services firm ARK Invest’s podcast on Feb. 19. When the question of BTC arose, Musk stated that “the Bitcoin structure was quite brilliant.” Though he also pointed out that “one of the downsides of crypto is that computationally it is quite energy intensive. So there have to be some kind of constraints on the creation of crypto. But it’s very energy intensive to create the incremental Bitcoin at this point.”
Telsa and Bitcoin
Just last year Musk opened about BTC and told via a tweet that he only owns 0.25 BTC, which is a gift from a friend.
Not sure. I let @jack know, but it’s still going. I literally own zero cryptocurrency, apart from .25 BTC that a friend sent me many years ago.— Elon Musk (@elonmusk) February 22, 2018