Musk: Bitcoin not necessarily good for the environment but on balance he supports it

Author: Adam Button | Category: Cryptocurrency

Musk comments at the B Word Conference

Musk comments at the B Word Conference
Elon Musk, Jack Dorsey and Cathie Wood are talking at the bitcoin B Word Conference. Musk said he still owns bitcoin, etherium and dogecoin personally.

"We need to watch out for bitcoin and proof of work for using energy that's maybe a bit too much and not necessarily good for the environment," he said. "But on balance I support bitcoin."

Bitcoin is at the highs of the day, up $2700 to $32,500. It gained about $200 on Musk's comment.

"If the price of bitcoin drops I lose money. I might pump but I don't dump. I would like to see bitcoin succeed," he said, but also questioned that scaling issues.

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