The price of Ethereum rose sharply after Tesla (NASDAQ:TSLA) and SpaceX Chief Executive Officer Elon Musk said he owns the cryptocurrency.
The price of Ethereum jumped 12% to just over $2,000 U.S. per coin following Musk’s confirmation that he owns the second largest cryptocurrency after Bitcoin. Musk made the comments at “The B Word” conference, an event that is being hosted this week by the Crypto Council for Innovation.
Musk said that, at this time, the only publicly-traded stock he owns is Tesla, and that he personally owns some Bitcoin, Dogecoin and Ethereum.
He added that he has been holding Bitcoin long term, and that as Bitcoin mining is increasingly powered by renewable energy, Tesla will likely move to accept the cryptocurrency for transactions once again.
And Musk confirmed that both Tesla and SpaceX own Bitcoin, and no other cryptocurrency at this time.
According to its press material, The B Word conference was established to “demystify,” “de-stigmatize” and “correct the mainstream narrative” around the cryptocurrency Bitcoin and promote its institutional acceptance and use.
