Bitcoin “on the verge” of being more broadly accepted, says Elon Musk

The owner of Tesla Elon Musk said that bitcoin was “on the verge” of being more broadly accepted among the investors of the world.

As per reports, Elon Musk has expressed his support for the cryptocurrency in a chat on social media app Clubhouse that drew thousands of listeners.

 Elon Musk said in his statement that,

 “I am a supporter of bitcoin,”

“I was a little slow on the uptake,” he said, adding he should have bought it eight years ago.

“I think bitcoin is on the verge of getting broad acceptance by conventional finance people.”

The comments that used the “#bitcoin” hashtag on his Twitter profile last week, which pushed the cryptocurrency up to 14%.

Bitcoin last traded up 3.7% at $34,390, having surged over 300% in 2020.

On the chat, Musk discussed memes, Mars, his companies, and vaccines, among other topics. He also interviewed Vladimir Tenev, co-founder of online stock broker app Robinhood, which is under fire for blocking retail investors from purchasing GameStop stock.

Tenev said that the market rumor was untrue that Citadel Securities – the market-making arm of billionaire hedge-fund manager Ken Griffin – had pressured Robinhood into blocking retail investors.

“That’s just false,” Robinhood temporarily halted trading to meet regulatory capital requirements.” He added.

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