Elon Musk Continues to be Curious About Cryptocurrencies
Elon Musk is one of the among the world's best minds. He's been part of Zip2, X.com, SpaceX, Tesla, SolarCity, Hyperloop, OpenAi, Neuralink and now The Boring Company (with flamethrowers).
Throughout these projects one motif is apparent. His aim is to help the human race deal with an assortment of issues which are currently being experienced or will be a significant issue in the future. This includes dealing with the fossil fuel consumption levels in the vehicle industry by developing an electric car company called Tesla, as well as looking towards space exploration through his SpaceX company.
This is the reason if he was pictured with a book about cryptocurrency in his hand, the online rumor mills went mad.
The Book in Question
This is a short book which provides a basic insight into the world of cryptocurrency, blockchain, bitcoin, decentralization and first coin offerings.
The writer, Dr. Julian Hosp is involved with a number of companies in the blockchain area, with the most prominent of these being a FinTech firm called TenX that specializes in the areas of bitcoin and blockchain. On his site, he makes clear his eyesight as helping at least 1 billion people to understand blockchain by 2025.
A good deal of people in the crypto community are excited after seeing Musk pictured with a book related to the digital currency space. There are numerous theories as to why he has this book in his hands, with some speculating that he was simply handed it by somebody.
Others, however, are a great deal more optimistic and believe that Musk might be considering making some type of headway in this space, perhaps by creating his own digital token that can be used in his Tesla and SpaceX companies.
He is obviously well versed in online payment systems, obtaining the email payment and online financial services firm he co-founded called X.com acquired by PayPal in the year 2000.
He subsequently went on to become the CEO of PayPal before being ousted in October 2000 because of problems with other leaders in the firm. When the company was sold to eBay in 2002, Musk was the largest shareholder, with 11.7% of the company's stocks and he received roughly $165 million through this sale.
With this background in payment services, it would not be a far stretch to imagine Musk integrating some form of blockchain technology or electronic token into how his current businesses operate or even as a separate entity.
He does have somewhat of a little track record in the cryptocurrency area as an investor. He revealed that he has only owned 0.25 bitcoin that a friend gave him years ago. At the time of writing, this was worth roughly $2,330 that isn't exactly a significant investment for a person with Musk's net worth.
However, this doesn't mean that he doesn't believe in blockchain technology or cryptocurrencies as a whole, so it'll be interesting to watch what related moves, if any, he makes in the future.