Business Magnate and serial investor Elon Musk has finally entered into the world of cryptocurrency after playing hide and seek with cryptos for a while. According to sources Elon Musk’s company “The Boring company” is now accepting cryptocurrencies like Ethereum, Bitcoin, Bitcoin cash, and Litecoin. The boring company was founded 2 years ago with the mission of reducing traffic in major cities by creating underground tunnels which will provide a new way to move from place to place swiftly and without delay. The first such tunnels will be built in Los Angeles in a project that will not only be exciting but also a first.
To promote this venture, Musk decided to put items such as trendy hats and the infamous “Not a flame thrower” on sale. According to popular news publication “The Next Web” “The company now accepts cryptos such as litecoin, bitcoin ethereum, and bitcoin cash along with more traditional forms of payment. Musks flamethrowers are now retailing at 500 dollars each which is less than normal 600 dollars. The full statement from “The Next Web” read; “The flamethrowers are retailing for $500, a lower figure than the pre-sale price of $600. At the time of writing, that means you can get yourself one of the devices for 0.078 Bitcoin. Or 2.48 Ether. That almost sounds reasonable.”
Musk has flirted with cryptos a few times in the past. In February the business magnate admitted that he had zero cryptocurrencies in an attempt to warn his followers to cease from twitter conversations about crypto with “fake Musks”. He also revealed that he had discussed the issue of impersonation with Jack Dorsey several times with little coming out of those conversations. Musk also stated that he had been impressed by several malicious bots on twitter who successfully impersonate celebrities constantly despite many efforts to get rid of them. These malicious bots are dangerous since they use their fake platforms to swindle people out of their cryptocurrencies.
The business magnate who is also the CEO of Tesla recently reached out to Jackson Palmer who is the founder of Dogecoin after being impressed by how simple it was coded, in an effort to find a solution to the constant scammers impersonating him and other celebrities on social media. This coupled with the fact that Elon’s “the boring company” is embracing cryptos is a big positive for the crypto community since it shows that Musk is finally throwing his weight behind cryptocurrencies. Will this see other big celebrities join the cryptocurrency train as well? Only time will tell.
I am a crypto enthusiast based in Nairobi Kenya, who loves investing, research writing, reading, fitness, African food, and soccer.
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