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Bitcoin [BTC]: Elon Musk reveals holding only 0.25 BTC; recommends Satoshi Nakamoto for a Nobel Prize




Bitcoin [BTC]: Elon Musk reveals holding only 0.25 BTC; recommends Satoshi Nakamoto for a Nobel Prize
Source: Unsplash

The CEO of Tesla, Elon Musk, has stoked the excitement of the cryptocurrency realm for the second time this week after he informed the world about the number of Bitcoins he held. He also expressed his gratitude to the creator of the digital currency and for early ‘hodlers’ of the same.

Musk’s tweet was in response to a report about the praise he heaped on cryptocurrencies, during a podcast released earlier this week. In the tweet, the Tesla CEO revealed the number of Bitcoins he owns, adding that he held no other cryptocurrency in his portfolio.

He tweeted:

“That said, I still only own 0.25 BTC, which a friend sent me several years ago. Don’t have any crypto holdings.”

Additionally, while replying to the aforementioned tweet, Musk also dismissed the long-standing rumor that he is the real Satoshi Nakamoto. However, he suggested that the person behind the pseudonym deserved a “Nobel Prize.”

His tweet read:

“Whoever owns the early BTC deserves a Nobel prize in delayed gratification.”

Earlier this week, Musk spoke in favor of Bitcoin and Ethereum on ARK Invest’s FYI podcast. He lauded the structure of the top cryptocurrency and acknowledged Ethereum as well. However, he also confirmed that Tesla would not venture into the cryptocurrency industry anytime soon.

The Tesla CEO stated:

“I think that the Bitcoin structure was quite brilliant, its seems like there’s some merit to Ethereum as well, and maybe some of the others. But, I’m not sure if it would be a good use of Tesla resources to get into crypto.”

Previously, the Tesla CEO was in the headlines after he said that paper money will soon fade away and be taken over by cryptocurrencies.

In his words:

“Paper money is going away and crypto is a far better way to transfer value than pieces of paper.”

Despite the early praise for Bitcoin and Ethereum and his bold prediction that fiat will be replaced by virtual currency, Elon Musk has not added more Bitcoin reserves. Musk’s held Bitcoin reserves remain the same since he first admitted to the amount he owned, back in February.

In a 22 February 2018 tweet he said:

“Not sure. I let @jack know, but it’s still going. I literally own zero cryptocurrency, apart from .25 BTC that a friend sent me many years ago.”

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HitBTC responds to allegations of insolvency, refutes claims made by Redditors




HitBTC responds to allegations of insolvency
Source: Unsplash

HitBTC, a Hong Kong-based exchange has been the center of accusations among users on Reddit, Twitter, and other forums. HitBTC users started complaining about issues regarding withdrawal and extensive procedures after one particular user @ProofofReserach put out a thread alleging insolvency of HitBTC.

To put an end to all the accusations, HitBTC has broken its silence with a blog post explaining their side of the story. According to HitBTC, their systems performed well during the winter of 2017-18, however, HitBTC mentioned that due to overwhelming demand for the services, they experienced bottlenecks at an operational level.

Referring to the BitcoinExchangeGuide article, HitBTC responded:

“A widely quoted article, in its entirety, is based on only 2 AML cases. One of them was initiated as part of the investigation into the December, 2018 BTCP security breach, at the request of the coin’s core team. Unfortunately, there is no clear indication of the nature of the second case that can be discerned from the article. The author of the article failed to track the deposit/withdrawal dynamics that did not uncover any irregularities. A simple block explorer or our public System Monitor would suffice for these purposes”

Additionally, referring to the altcoins being added and removed from the platform, the exchange said that they were honored to work with a diverse range of projects, however, since the crypto sphere was still nascent, there were lapses in their judgment in assessing the integration partners. With the above-mentioned prominent cases, HitBTC also addressed other topics.

@ProofofResearch replied to HitBTC’s blog:

“Is there a reason why you’re unable to tell people us where your Bitcoin storage is at? If what I published is as untrue as you claim it is, then providing a wallet address where your Bitcoin funds are stored will go a long way in *proving that*.”

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