The historic sell-off a few days ago created a nice dip for investors to take advantage of. Bitcoin is hovering around $32000 at the time of this article being written. The volatile nature of cryptocurrencies makes it hard to predict what will happen next, but right now, Elon Musk along with Twitter CEO Jack Dorsey is being fairly active on the media platforms. Jack Dorsey confirmed to investors that Bitcoin will be a “big part” of the company’s future. The Twitter stock price jumped up on Friday after the news.
On the other hand, Elon Musk, the man who started it all, stated in an interview that he plans to hold bitcoin long-term. During the B-word conference, he mentioned that Bitcoin is his largest cryptocurrency holding, above ether and dogecoin. Though experts warn that cryptocurrency is a risky, speculative investment, if you own or are going to buy bitcoin, other experts agree that Musk’s long-term holding strategy may be the best practice.
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