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Bitcoin, Ethereum, Dogecoin? Crypto Twitter Debates Tesla Adoption of BTC – With an Appeal to Elon Musk

May 04, 2019

Crypto enthusiasts on Twitter are appealing to tech entrepreneur and Tesla CEO Elon Musk to adopt cryptocurrencies.

Crypto bull and Morgan Creek Digital CEO Anthony Pompliano, who has popularized the slogan “Long Bitcoin, Short the Bankers,” is asking Musk to integrate a digital wallet with Tesla so that the electric car can support Bitcoin (BTC) payments. Such a wallet could allow crypto users on the go to make payments for parking and at tolls using BTC and other digital assets.

Elon how about supporting Bitcoin payments through a digital wallet in a Tesla?

— Pomp ? (@APompliano) May 3, 2019

https://twitter.com/VinceDePalma/status/1124306704957571073

Crypto supporters differ on which coin is truly up to speed for a Tesla. One user suggests that the XRP Ledger would be more suitable than Bitcoin, due to its speed, with several users pointing out that Bitcoin is too slow and consumes too much electricity.

I honestly think that Bitcoin is a bit too slow for a Tesla. But it could be connected with the XRPLedger which supports Bitcoin too. #XRP

— M.L. (@XRP_VET_BLKCN) May 3, 2019

To circumvent volatility risk and facilitate instantaneous Bitcoin payments, another user suggests utilizing the Lightning Network.

This isn’t the first time Pompliano has made an appeal to the tech entrepreneur. In February, he tweeted Musk after he revealed his modest Bitcoin holdings.

Elon – send me a Lightning Network invoice or a Bitcoin wallet address.

I’ll send you more Bitcoin so you can see how much things have improved recently.

We have to get you using the future global reserve currency of the world.

— Pomp ? (@APompliano) February 21, 2019

Although Musk has put an occasional spotlight on Bitcoin, Ethereum and Dogecoin, calling the latter his potential favorite and tweeting the word “Ethereum” four days ago, he has so far steered clear of cryptocurrency integration for Tesla. The PayPal co-founder has, however, stated that crypto “is a far better way to transfer value than pieces of paper” and predicts that “paper money is going away.”  As for Tesla, Musk has said,

“I think the Bitcoin structure is quite brilliant, and it seems like there’s some merit to Ethereum as well. But I’m not sure it would be a good use of Tesla resources to get involved in crypto.”

Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.