Elon Musk Says Bitcoin is the Financial Furture, Regrets Not Buying it Earlier
Elon Musk, SpaceX and Tesla head honcho, appeared on the super-exclusive audio-only Clubhouse app Sunday night, joining the Good Time Show to talk all things Mars, becoming a multi-planet species and memes. The app, which allows people to create rooms for conversation, didn’t fare too well. The cap on participants is set at 5,000 — and it was quickly overwhelmed as Musk fans clamored to hear the world’s richest man speak.
Still, enterprising YouTubers and Discord servers popped up and, for those interested in Musk’s waxing and philosophizing, there were some surprising claims about Mars and monkeys. In typical Musk fashion, he made some bold claims about when people might get to the red planet, discussed his Twitter meme-ing and detailed some of the progress his team at Neuralink has made. It was a meandering and, at times, bizarre but a few interesting details on Musk projects were revealed.
Let’s start with Mars. If you’re wondering what Musk’s timeline to get humans on Mars is, well… you might be surprised.
“Five and a half years,” Musk told hosts Sriram Krishnan and Aarthi Ramamurthy at the beginning of the show.
Musk has been known to put overly ambitious deadlines on his projects, from Tesla to SpaceX, but five-and-a-half years to get Starship off the ground and ferrying humans to another planet? That a whole other level of ambition. But that’s not a hard deadline. Musk listed a number of caveats — there’s a raft of technological advances that must be made in the intervening years.
“The important thing is that we establish Mars as a self sustaining civilization,” he said.
Bitcoin is the Financial Future
Elon Musk went on to claim that he sees a massive adoption of Bitcoin by Financial people in coming years and also jokingly apologized for being late to the bitcoin party.
Musk’s acknowledgment about bitcoin might not come as a surprise to many as being a serial entrepreneur who made electric cars mainstream and even kind of changed the space travel technology after his company SpaceX developed reusable rockets, backing something that goes against the set trend seems to be his thing so it was only time when he backed bitcoin that challenges the century-old monetary system.
Bitcoin price did go over $38,000 post Musk tweet, however, it couldn’t hold its position and soon fell back to sub $33k levels. The top cryptocurrency is currently eyeing a $35k price target as Coinbase whales start moving their bitcoin away from exchanges. The price of top cryptocurrency nearly doubled its 2017 high in the first week of January 2021, but since then its price has been stuck between $30,000 – $35,000 levels.