Compound founder Robert Leshner has joked that Tesla CEO Elon Musk is just two weeks away from buying $100 billion worth of Bitcoin and “tanking” the dollar.
This comes after Musk voiced intense criticism of the House-passed tax bill, which is expected to add trillions to the deficit over the next decade.
As reported by U.Today, Blockstream CEO Adam Back recently opined that Bitcoin would be a perfect fit for Musk.
However, Back is not optimistic that Musk will eventually adopt Bitcoin, which would be “the obvious smart money move.”
Even though Tesla and Musk do own Bitcoin, Back insists that the current allocation is too low for his personal net worth.
According to the Bloomberg Billionaire Index, Musk's personal net worth currently stands at $335 billion after declining by $97 billion since the beginning of the year. Meta CEO Mark Zuckerberg comes in a rather distant second place with $241 billion.
In February 2021, Tesla famously made its massive $1.5 billion bet on the leading cryptocurrency by market cap.
In July 2021, Musk confirmed that he personally holds Bitcoin. However, during the same year, he had a falling-out with a lot of members of the cryptocurrency community after criticizing Bitcoin for its excessive energy usage.
Vladislav Sopov
U.Today Editorial Team