Elon Musk OK With Being Paid in Bitcoin

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In Brief
  • Tesla’s Elon Musk, now the world’s richest man, has tweeted that he wouldn’t turn down being paid in Bitcoin.

  • The eclectic CEO is known for his support of the cryptocurrency, often tweeting about it.

  • The comment comes as Bitcoin, and Musk’s wealth, have rallied to new highs in 2020.

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Responding to a tweet by writer Ben Mezrich in which he said he’ll never turn down being paid in Bitcoin again, Elon Musk tweeted: “Me neither”.

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The comment immediately drew reaction from the cryptocurrency community. Changpeng Zhao, founder and CEO of cryptocurrency exchange Binance (colloquially known as ‘CZ’) tweeted “attaboy” to Elon Musk in response.

To the halls of Twitter

Campaigns were swiftly set up by the community to get Elon Musk paid in Bitcoin and test the CEO’s commitment. The comments come as Bitcoin’s price soar to record new highs.

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Mezrich is a well-known tech writer and author, known for works such as the movie ‘The Social Network’ and his latest bitcoin-themed book, Bitcoin Billionaires. In the book, Mezrich chronicles the top cryptocurrency’s journey, “from the Silk Road to the halls of the Securities and Exchange Commission”.

‘Dogecoin CEO’

Musk has also been keeping tabs on this journey. He often comments on a number of cryptocurrencies on Twitter, and engages in debates with the community about the industry’s future. 

Musk also tends to make light-hearted endorsements. The most recent benefactor of his attention was the meme cryptocurrency Dogecoin. It received a mention as the CEO wished the public a Merry Christmas. To that end, Musk has been appointed, by the community, as its honorary CEO

The CEO also fueled speculation online last year that his electric car company, Tesla, could add Bitcoin to its balance sheet. Moreover, recently Musk proposed that a future economy on Mars could be based on a cryptocurrency, a potential Marscoin. 

The Future of Elon and Bitcoin

Like Bitcoin’s price, Musk’s wealth skyrocketed in 2020 on the back of Tesla’s historic performance. As a result, the CEO is now the richest man in the world, worth over $194.8 billion, unseating former number one, Amazon’s Jeff Bezos. 

Responding to the ‘event’, the CEO tweeted: “how strange”, the characteristic shrug of the shoulders he is becoming known for. This theme was also found in the CEO’s and Mezrich’s brief exchange after his “Me neither” tweet after Mezrich offered Musk an opportunity to write a book. 

Musk responded: “I am primarily trying to advance two causes: sustainable energy & extending life/consciousness beyond Earth. There is also the existential threat of AI, which we should aspire to mitigate. This doesn’t leave time to write books”. 

If this is any indication, Musk is not necessarily interested in the speculative nature of cryptocurrencies. But, with the potential of Marscoin and his honorary position as Dogecoin CEO, expect there to be more opinions. 

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Emmanuel entered the cryptocurrency space in 2013 as a cryptocurrency broker. He is a crypto-enthusiast, entrepreneur, and investor, who has built and led several projects and communities in the space. He is CEO and co-founder of Provence Intelligence, a boutique crypto-consultancy firm that aims to bridge the gap between the cryptocurrency and DLT space and the traditional world. Interests include DeFi, non-blockchain DLTs, and the synthetic derivatives space.

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