Elon Musk says bitcoin is 'on the verge of getting broad acceptance' by traditional finance people


Tesla CEO Elon Musk has said that bitcoin is a "good thing" and that it is set to get mainstream attention.

"I think bitcoin is really on the verge of getting broad acceptance by sort of the conventional finance people," said Musk on Sunday night during a Clubhouse chat session. "I don't have a strong opinion on other cryptocurrencies."

Musk went on to say that many of his friends have convinced him to buy bitcoin in the past, but he is "late to the party."

The billionaire CEO added that he should have bought some bitcoin in 2013 when one of his friends introduced the cryptocurrency at the time.

Musk also briefly talked about Dogecoin, the meme-coin he has tweeted about in the past, saying that he "occasionally" makes "jokes about Dogecoin."

"They are really just meant to be jokes, but you know Dogecoin was made as a joke to make fun of cryptocurrencies obviously, but fate loves irony and often as a friend of mine says that the most ironic outcome or I'd say the most entertaining outcome and the most ironic outcome would be that Dogecoin becomes the currency of earth in the future."

Musk's comments come three days after he added bitcoin to his Twitter bio and posted, "In retrospect, it was inevitable," possibly meaning that the bitcoin mention was sure to happen.

Bitcoin surged by about 15% on Friday after Musk's mention and is currently trading up by about 2% at $33,800.

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