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Author: Admin | 2025-04-28
Elon Musk had a complicated relationship with cryptocurrencies, and they had undergone many wide turns along its road, just like the cryptocurrency market itself. Let’s go through the whole story, from its very beginning.Elon Musk, a South African-born USA-based engineer and businessman, held the title of CEO in numerous companies, including SpaceX, Tesla, OpenAI, and more. Every company is known for cutting edge technologies in different areas, from spacecraft to EV construction.But earlier, in 1998, Elon stood at the foundation of PayPal, which was among the world’s first online payment systems, but definitely ended up the most popular one. By 2020, it had surpassed the mark of 300 million regular users worldwide and changed the way money was transferred online forever.So all of this legacy Elon (not much willingly at first) inevitably led to the adoption of cryptocurrencies. Blockchain technology, which lies at the core of a crypto, brought online payments ahead of PayPal as well as of its contenders and completely eliminated the urge of having centralized third-party “middleman” CPUs.Did Elon Musk create Bitcoin?In late 2014, Elon Musk was giving an interview and got a question about Bitcoin. In response, he described Bitcoin as fascinating, even though it is mainly used for transactions on the dark web. He added that cryptocurrencies eventually will be used for all kinds of financial transactions in the future and that he does not have any of Bitcoin in his possession.Elon Musk’s opinion was fully justified back then, as the value of Bitcoin has fallen from its current peak of around $1100 in 2014, a trend that lasted for three years until the cryptocurrency experienced an incredible boom in late 2017.As BTC broke through the $8000 mark and reached a new high of nearly $20000, an article titled “Elon Musk Probably Invented Bitcoin” went
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