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Elon Musk Changes Tune on Bitcoin, Says It's His "Safe Word"

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Sun, 12/20/2020 - 09:10
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Alex Dovbnya
Tesla CEO Elon Musk has made an about-face on Bitcoin, tweeting that the cryptocurrency is now his safe word
Elon Musk Changes Tune on Bitcoin, Says It's His "Safe Word"
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Tesla CEO Elon Musk is back to teasing the cryptocurrency community on Twitter. 

This time, the centibillionaire has revealed that Bitcoin is, in fact, his safe word to more than 40.8 million followers.    

Bitcoin
Image by @elonmusk

Musk’s cryptic BDSM references spark debates   

Musk’s cryptocurrency takes are nothing short of bizarre, and it’s challenging to decipher what exactly he means with his latest tweet.

However, it’s safe to assume that he has made a complete U-turn on the leading cryptocurrency since he explicitly stated that it was *not* his safe word back in January.

Back then, many assumed that his tweet was either some sort of a kinky BSDM play or a sign of his waning interest in the cryptocurrency. In April 2019, Musk tweeted that cryptocurrencies, in general, were his “safe word.”

Now that the tables have turned, Musk might now perceive Bitcoin as a safer play than altcoins. This would be in line with all institutional investors that are propping up the latest crypto rally.   

Bitcoin is the only major cryptocurrency that has managed to print a new all-time high since the early 2018 crypto bubble popped. 

In his follow-up tweets, Musk said that he was "just kidding" while comparing Bitcoin to fiat money.         

Related
Elon Musk Replies to Bitcoin Tweet Posted by "Game of Thrones" Actress

Musk is close to becoming the richest person on the planet 

Musk is now in a much different place than he was in early 2020. Following Tesla’s monstrous run, Bloomberg estimates that he is currently worth $167 billion, adding $140 billion in just a year. He’s currently "only" $20 billion away from overtaking Amazon CEO Jeff Bezos and becoming the richest person on the planet. 

Bloomberg
Image by bloomberg.com

Throughout the year, Telsa has drawn many comparisons to Bitcoin because of its unstoppable rally.

In spite of seeing cryptocurrencies as a replacement for cash, Musk himself admittingly owns only 0.25 BTC. As estimated by Blockstream CSO Samson Mow, his modest crypto stash is now worth close to $6,000.

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About the author

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets, can be contacted at alex.dovbnya@u.today.