Crypto-Twitter Explodes as Elon Musk Endorses Bitcoin Yet Again

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Bitcoin (BTC) Remains Unmoved After Elon Musk’s ‘Bitcoin Is *Not* My Safe Word’ Tweet
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Yesterday, popular British author J.K Rowling took to Twitter to express her difficulties with understanding the logic behind the world’s most talked-about Cryptocurrency, Bitcoin. The cryptocurrency community was generous enough to enlighten the award-winning writer on the structure of Bitcoin.

As reported earlier by ZyCrypto, some top Cryptocurrency personalities including Vitalik Buterin were quick to help break down the rather  “complicated” concepts of Bitcoin. The conversation soon got a lot more interesting when billionaire engineer Elon Musk chimed in, and as expected, the Twitter Cryptocurrency community was thrilled.

Elon Musk vouches for Bitcoin

It all started when a popular tech consultant Dean Johnson, tagged Musk to one of Rowling’s tweets where she expressed her distrust in Bitcoin, although this was a blatant joke as it was made in response to a comment referencing some fictional characters from her books to Bitcoin.

Musk chimed in regardless, with a tweet that reaffirmed that his stances were in favour of Cryptocurrencies. The CEO of Tesla once again emphasized Bitcoin’s value by explaining to the Harry Potter writer that in comparison to Fiat currencies, which he noted to be controlled by centralized organizations, Bitcoin is better structured, and thus more reliable. Musk also revealed that he holds only 0.25 BTC, which is nearly $2,350 worth of Bitcoins at present.

Musk might still not be going “all in” yet

Despite speaking in favor of Cryptocurrencies relentlessly, Musk personally assumed a neutral position when quizzed about his stances on digital technology earlier this year.

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Back in January, Musk appeared on the Third Row Tesla Podcast, where he explained that while cryptocurrency is rapidly gaining ground in the world of finance, digital currencies still functions as a bridge that aids the validation of illegal transactions. Still, Musk believes that cryptocurrencies could perfectly substitute Fiat currencies in the future.

Is J.K. Rowling taking the deep dive into Cryptocurrencies anytime soon?

It would seem that the talented novel writer may have been “tipsy” when she made those series of tweets about Bitcoin, as some of her other tweets revealed that yesterday was one of her “alcohol weekends.”

“I don’t want to programme money. I can barely work my TV,” she jests, as she shared a screenshot from a user who pointed out the differences in the structure of Bitcoin and Ethereum, stating that the former is simply cash, while the latter is “programmable money”. 

Even though Rowling made clear that it was all banter, her tweets emphasize the complexities frequently encountered by newbies just discovering the cryptocurrency space. Despite Cryptocurrencies like Bitcoin being in existence for more than a decade, newcomers often dismiss the revolutionary technology due to the complex prerequisite concepts required to either invest or trade-in Cryptocurrencies. 


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The views expressed in the article are wholly those of the author and do not represent those of, nor should they be attributed to, ZyCrypto. This article is not meant to give financial advice. Please carry out your own research before investing in any of the various cryptocurrencies available.