Why was Musk so late to the party? / or Publically support BTC

[jubalix]

Musk was involved with paypal, and has access to a lot of high tech and high tech advisors.

Why then was he so late to support BTC?

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[tinopener]

Musk was involved with paypal, and has access to a lot of high tech and high tech advisors.

Why then was he so late to support BTC?

Well, he said this weekend on a meeting at new media outlet Clubhouse that he wished he bought in 8 years ago.

If that helps 

[Artemis3]

Well he probably was busy playing with rockets and cars, but i guess he finally got it. Next step in proving support, is accepting bitcoin and paying wages in bitcoin. Time will tell how genuine he is.

[DooMAD]

Musk was involved with paypal, and has access to a lot of high tech and high tech advisors.

Why then was he so late to support BTC?

In the grand scheme of things, he's not actually that late.  Bitcoin still isn't exactly mainstream yet.  History will still record that he was "in" before some of the other big-name businessmen.  And still before the vast majority of the general masses.  

[Vaskiy]

Year 2000 was big for Elon Musk. By that time only his online banking company got merged with confinity and started PayPal. In this manner even before the existence of bitcoin he is on the track of innovation relative to banking. Later on his interest has got moved towards aerospace and related development. That seems the reason why Elon Musk isn't early to be the part of Bitcoin. Even now it isn't late, without bitcoin he's the richest, when he starts acquiring Bitcoin to his list what'll be his position

[Cynthiajia0]

For a long time, many of my friends have tried to persuade me to participate in the Bitcoin business. "Musk said that he had eaten a piece of "bitcoin cake" given to him by a friend in 2013. He "obviously... eight years ago should have bought at least some bitcoins-really late."

[charlesmichel1]

Do you remember some months ago Musk said he had a relatively small amount of Bitcoin and not going to invest more? What did make him change his mind and become a Bitcoin supporter?

[davis196]

Musk was involved with paypal, and has access to a lot of high tech and high tech advisors.

Why then was he so late to support BTC?

The fact that Musk was involved with a company like Paypal is kinda disturbing to me.
Actually Musk doesn't need Bitcoin.He has his own Bitcoin-Tesla stocks. The Tesla stocks prices increased 11 times in 3 years.This is a pretty impressive price bubble,that can be compared only to the BTC price bubble.
I guess that he doesn't want to own another financial asset,that is growing rapidly and creates a price bubble.

[Ozero]

Musk was involved with paypal, and has access to a lot of high tech and high tech advisors.

Why then was he so late to support BTC?

For him, the cryptocurrency just doesn't matter much. Elon Musk does not seek to profit from it. He is engaged in real advanced technologies and this, in addition to moral satisfaction, sometimes brings him several billion dollars in profit a day. Even a few million dollars in cryptocurrency profits no longer matter to him. Man cannot cover everything at the same time.

[casperBGD]

Musk was involved with paypal, and has access to a lot of high tech and high tech advisors.

Why then was he so late to support BTC?

Well, he said this weekend on a meeting at new media outlet Clubhouse that he wished he bought in 8 years ago.

If that helps 

it is easy to say today that you are sorry not being here 8 years ago , I think that everyone is sharing the same feeling with him, if not present here 8 years ago
nevertheless, I do think that Elon joining the party is a good thing for community and that he is not going to pump and dump it, like with some altcoins, where he does not involve himself, but just tweeting about it is making a lot of fuss on the market

Bitcoin is here to stay, and Elon recognized that, he does not need 10x on his portfolio, but would not like to go down with USD as well, so embrace BTC is his best option

[Lorence.xD]

Well he probably was busy playing with rockets and cars, but i guess he finally got it. Next step in proving support, is accepting bitcoin and paying wages in bitcoin. Time will tell how genuine he is.

That is one way to put it, and not to mention that he is also busy with Neuralink, Starlink, The Boring Company, Hyperloop and OpenAI, so my guess is that he doesn't have that much free time to consider the wonders of bitcoin at that time. It doesn't really matter though, everyone will eventually support this bitcoin, the ones that are afraid are the people that are going to be hit by the hypetrain that is bitcoin.

[irixo10]

Well it's obvious he was busy with other life endeavours and trying to achieve whatever he wants in life but being a man of innovation or a man who likes innovative ideas, he has later come to terms with Bitcoin and what it offers. The funny things is, this is the same Bitcoin that a lot people won't fail to ridicule or say bad things towards it, but here is someone who understands the essence of a good technology supporting it, in my own opinion, it doesn't really matter how long it took but what matters is coming to terms and agreeing with it. I believe gradually, even those who do not see anything good in Bitcoin will also come to agree with it, understand it and support the way they can.

[aesma]

Personally I wonder if he talks about it now to help Tesla indirectly. Basically wooing a certain crowd, that is also likely to be part of "wallstreetbets", putting himself and Tesla in the camp of the good guys. After all plenty in Wall Street think Tesla is overvalued, and it is (or has been in the past, I'm not following that too closely) heavily shorted, then retail investors helped in short squeezing the shorters.

As for being late, it doesn't really matter, he's one of the richest people on the planet, he can sell some Tesla stock and buy thousands of BTC, then he's set for life whatever happens.

[slaman29]

He wasn't late. He just went public late, and in fact, still hasn't really said much about it. He probably has a lot of secret stashes and has wisely avoided revealing himself as a crypto whale.

He definitely has a few billion dogecoin I would say:P

[lifeforcepools]

He did it in time, you can be sure of that.

[Artemis3]

The fact that Musk was involved with a company like Paypal is kinda disturbing to me.
Actually Musk doesn't need Bitcoin.He has his own Bitcoin-Tesla stocks. The Tesla stocks prices increased 11 times in 3 years.This is a pretty impressive price bubble,that can be compared only to the BTC price bubble.
I guess that he doesn't want to own another financial asset,that is growing rapidly and creates a price bubble.

You got it backwards. He and another guy made paypal in a garage, this was an app (program) for palm (pda) devices (precursor to smartphones), ie: "PAY with your PALm" (basically using email and credit card). They were bought, (that's how he made his initial fortune) and from that acquisition comes the company you know today, he didn't stay there.

At this point most people would just sit in their fortune and live of it for the rest of their lives. This guy had another idea, the rest is history. But yeah, he might have seen Bitcoin from the sidelines, but truly, with the whole bunch of things he was doing he probably didn't give it any serious attention. But i guess its never late than never, he might have finally found out, perhaps because of those annoying scammers impersonating him? Who knows...

[ChiBitCTy]

Elon has quite a few things going on in his life, and if you understand bitcoin/cryptocurrencies then you know that there is a lot to learn.  I think I studied bitcoin for at least a year before I ever bought.  Now he's far more intelligent than the average bear, but still.

I also think it's funny some people think he's Satoshi..no way he had the time to do all that. Not a chance in my mind.

[mk4]

Probably just because he was previously skeptical, and something just clicked. It’s most probably just mere coincidence, but his support of BTC came out after the Robinhood-GME fiasco. I wouldn’t be surprised if that ended up being the final straw for Elon to recognize the importance of a free market.

[dothebeats]

He was the co-founder of PayPal, a payments solution technology that goes directly against what bitcoin offers. It will obviously take him some time to churn the reality that bitcoin can co-exist with what we have right now in terms of payments and investments. Also, the dude is practically busy in most of his companies, especially his biggest cash cow right now, Tesla and SpaceX. Given the incredibly high valuation of Tesla stocks, Mr. Musk should make sure that those who bought shares would get their money's worth, and I believe that bitcoin is incredibly volatile at the time (even now) to cover for the money that Tesla is carrying should there be any issues and all.

[bryant.coleman]

Better late than never. How many of the top 10 most wealthy people has openly come in support of Bitcoin or any other cryptocurrency? I think Elon Musk is the only one. A few, such as Warren Buffet on the other hand has shown open hostility towards BTC. It has something to do with the age as well. Those who are in 90 plus age group (such as Buffet) are having difficulty in accepting new technology. But those who are in the younger age bracket such as Musk and Zuckerberg are more open towards new innovations.