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Ethereum Price Rises After Musk Announces He Owns The Cryptocurrency


The price of Ethereum saw a bit of increase on Wednesday after Elon Musk announced that he owns Ethereum.

Musk made the announcement at the B Word conference where he was also sharing the stage with the CEO of Twitter Jack Dorsey.

Musk stated that he owns Bitcoin, Dogecoin, and Ethereum, he then went on to say both Tesla and SpaceX  just owns Bitcoin.

That wasn’t the only thing he announced, the CEO of Tesla also went on record saying that Tesla will more than likely accept Bitcoin at Tesla in the near future.

CNBC covered the story, check out what they had to share:

The price of ethereum rose Wednesday afternoon after Tesla and SpaceX CEO Elon Musk said he owns the cryptocurrency at The B Word conference, an event hosted by the Crypto Council for Innovation.

Ethereum, which was already rallying on the day, touched its high of the session after Musk’s mention. It was last up more than 12% and near the highs of the day.

Musk also repeated his support for cryptocurrency in general, despite potential environmental risks, saying, “One thing you do need to watch out for with crypto, especially bitcoin, using proof of work, using energy that’s a bit too much and not necessarily good for the environment.”

As bitcoin mining is increasingly powered by renewable energy, Musk said, Tesla will likely move to accept bitcoin for transactions once again.

Musk also said that at this time, the only publicly traded stock he owns is Tesla’s, and that he personally owns some bitcoin, dogecoin and ethereum. “The only significant thing I own outside of Tesla is SpaceX,” he noted, having helped create both companies.

If you would like to check out Musk speaking at the B Word Conference, you can watch a highlight of it here:

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