The B Word: What did Elon Musk say during the conference?
TECH billionaires Elon Musk and Jack Dorsey shared some words of wisdom at the B Word Conference.
But what is it what did they say about cryptocurrency? Below is everything you need to know.
What did Elon Musk say?
The event featured Tesla CEO Elon Musk - who has trolled Jeff Bezos by lending his support to a new range of rocket-themed dildos.
He was joined by Twitter CEO Jack Dorsey and ARK Invest CEO Cathie Wood among other names.
The price of Ethereum rocketed after Musk revealed that he personally invested in the cryptocurrency.
Speaking at the B Word conference, he said: "I've been thinking about money for quite a while.
"Bitcoin does some things well, and it's evolving.
"Usability for the average person is not great but it has a lot of potential.
"On balance I support bitcoin and cryptocurrency in general."
Musk also confirmed that he personally owns a large amount of Bitcoin.
If the price of Bitcoin goes down, I lose money
He continued: "The only thing I own of any significance beyond Tesla and SpaceX stock is Bitcoin, and then some Ethereum and Dogecoin.
"If the price of Bitcoin goes down, I lose money.
"I might pump but I don't dump... I would like to see Bitcoin succeed."
During the conference, Musk sported a t-shirt that featured the Bitcoin logo.
In June, Musk agreed to join the line-up after a Twitter exchange with Jack Dorsey.
"Let's you and I have a conversation at the event. you can share all your curiosities" Dorsey tweeted to Musk on June 25.
"For the Bitcurious? Very well then, let’s do it," Musk replied.
The two billionaires stand a pole apart on their views of Bitcoin.
Dorsey has always been unapologetic about his enthusiasm despite the impact on the environment, Musk has expressed his concerns.
In February, Musk announced that Tesla would start accepting Bitcoin for purchases however it was revoked in May.
“Cryptocurrency is a good idea on many levels and we believe it has a promising future, but this cannot come at great cost to the environment,” Musk wrote.
READ MORE SUN STORIES
It was organised by the Crypto Council for Innovation which describes itself as a "global alliance of crypto industry leaders with a mission to demonstrate the transformational promise of crypto and communicate its benefits to policymakers, regulators, and people around the globe.”
Most read in News
