Yesterday the famous entrepreneur and CEO of various companies, Elon Musk, wrote on Twitter that he is not interested in bitcoin (BTC).
Bitcoin is *not* my safe word
— Buff Mage (@elonmusk) January 10, 2020
The phrase “Bitcoin is not my safe word” doesn’t leave a lot of interpretations open, and the way it was written seems to suggest that Elon Musk doesn’t see bitcoin as a store of value. “Safe”, referred to the investment, should perhaps be understood in reference to an asset that is safe in the long term.
On several occasions, Musk has never been particularly favourable or interested in bitcoin or any other crypto and it seems that he only owns 0.25 BTC, a figure much lower than many would expect.
In the past, the same Musk posted several joke tweets about some cryptocurrencies endorsing one in favour of the other, like when he said he was the CEO of Dogecoin or when he retweeted a post related to Ethereum and Vitalik Buterin intervened to explain the potential of crypto.
The comments on Musk’s tweet are varied and contrasting: for example, many people joke that he would be “safe” on Mars, while others invite to take a look at Ripple (XRP).
Some even insist that BTC is not bitcoin and that the only real bitcoin is Bitcoin Satoshi Vision (BSV); there are also many other cryptocurrencies being proposed as safe, such as Dogecoin (DOGE), DigiByte (DGB) and others.
Anyways, for Elon, it seems that bitcoin is an excellent alternative to cash, as stated a while ago and so maybe the post “is not my safe word” could be in reference to the fact that he considers BTC as a payment method rather than a store of value.