In doing so he stated that he had no confidence in cryptocurrencies. Following his comment Elon Musk teased and tweeted that he was getting old so he put it in the trash like this without knowing the value of bitcoin.
Following this, Elon Musk’s company Tesla Electric Car has tweeted on its Twitter page that it trusts Bitcoin. Following that, Elon Musk said that Bitcoin will be a help to long-term investments and future generations.
It is noteworthy that the value of Bitcoin, which had been declining till then, has risen by 5% following this tweet. He also said that Elon Musk was not scared when the crypto market was down.
Speaking further Elon Musk said that he has not sold any of the picoins he has till date and has been holding them till date.