Elon Musk: BitCoin On the Verge of Widespread Acceptance

Elon Musk has said bitcoin is on the verge of achieving wide acceptance among investors and conventional finance people.

Tesla’s famous CEO has been on a roll in the last few weeks with his commentary on various companies, services and technology. His tweet about messaging app Signal helped drive unprecedented growth in the wake of WhatApp’s privacy mishap. A tweet about GameStop helped drive further investment in the stock. Musk recently added #bitcoin to his Twitter profile, leading to a 14% jump in bitcoin’s price, and has now predicted the cryptocurrency is on the verge of widespread acceptance.

“I am a supporter of bitcoin,” Musk said in his first discussion on Clubhouse, the invitation-only social media app, according to Business Insider.

“I think bitcoin is on the verge of getting broad acceptance by conventional finance people,” he added, while also admitting he should have invested in the currency eight years ago.

“I was a little slow on the uptake … I do think at this point that bitcoin is a good thing.”

Musk’s comments are the latest indication of the inroads bitcoin has been making, with even an NFL player’s salary being paid in part with the cryptocurrency.