Tesla founder Elon Musk is making headlines for some of the strangest reasons lately. First, for the fact he named his first child something most people can’t even pronounce. In fact, it’s hard to spell out that child’s name using traditional keyboard characters. Instead, we have to copy and paste it from another article. Here’s the name: X Æ A-12. Go ahead and say that three times fast.
Thanks to famed Harry Potter author J.K. Rowling however, Musk is in the news for another reason. He made the effort to try to explain Bitcoin to Rowling, and he did it all on Twitter for the world to see. The Twitter community couldn’t help but make the exchange go viral. Let’s break it down further.
Rowling’s Simple Request Regarding Bitcoin
It all started with one simple request from Rowling on May 15, 2020. Given the billionaire author has more than 14.6 million followers, it didn’t take much for some of those people to start sending her links to articles and facts about Bitcoin and digital currency.
I don’t understand bitcoin. Please explain it to me.
— J.K. Rowling (@jk_rowling) May 15, 2020
It wasn’t just people who are positive about Bitcoin either. Many sceptics chimed in with their points of view. Nevertheless, the CEO of SpaceX and founder of Tesla Elon Musk decided to provide his perspective:
“Pretty much, although massive currency issuance by government central banks is making Bitcoin Internet money look solid by comparison,” he Tweeted.
But before Bitcoin purists could get too excited about one of the world’s richest science geeks calling Bitcoin as solid as regular money, the reality is although Musk is one of the world’s wealthiest, he readily admits that he only owns 0.25 Bitcoin, which is hardly a blip in a portfolio that features two multi-billion dollar publicly traded companies. Really. One would think a science and technology revolutionary would put a few more dollars into the world’s most iconic representation of decentralized payment systems.
Harry Potter Fans Shouldn’t Get To Excited Either
Although it might be kind of cool for Harry Potter fans to see one of their favorite authors inquire about Bitcoin, she has since followed up she has no interest in joining the Bitcoin community, but rather wants to increase the value of her Ethereum holdings. Is she telling the truth? Or was it just a joke? Fans of Rowling will probably never know. She didn’t share wallet address or show off any of her holdings. Perhaps she likes to play coy and not let anybody know that she has billions of dollars invested in various projects. Then again as wealthy as Rowling is, her billions pale in comparison to the wealth amassed by Mr. Musk.
If the common folk Bitcoin investor can only judge billionaires by how much they actually own as a reflection of whether or not they care about crypto adoption, the fact Mr. Musk owns exactly one quarter of a Bitcoin is likely a bit disheartening, and odds are Ms Rowling probably doesn’t own much more than that, if anything at all. Still the question remains…
Should The Rest of Us Still Gamble on Bitcoin?
Whether or not the rest of us should gamble on Bitcoin is always the million-dollar question. Especially because most of us are not billionaires. The answer? Of course! Gambling on and with Bitcoin is perfectly warranted. If not sites like BTG would not exist after all.
But as always, whether gambling on the price of Bitcoin itself or gambling with crypto at the gaming tables. Do so responsibly. Bitcoin’s future potential is endless, but not holding onto any in the bankroll means missing out on the revolution.