Mongolia Issues A Cryptocurrency License Under New Payment Law

We are sure we remember our cryptonews post from January, when the legendary entrepreneur and founder of Tesla, Elon Musk, mentioned Bitcoin in a tweet which was at first skeptical but later went viral on crypto Twitter. Yesterday, Elon Musk laughed at tweet about the Bitcoin price which mentions that BTC is “too low” right now.

Bitcoin is *not* my safe word

— Elon Musk (@elonmusk) January 10, 2020

While the January’s post of Elon Musk showed that he thinks that Bitcoin is “his safe word,” now we can see mixed opinions from the entrepreneur. According to some people, Musk likes being ironic when it comes to the world of cryptocurrency.

On May 1st, Elon Musk laughed at tweet in a possible attempt to play with the feelings of Bitcoin enthusiasts, tweeting about it even twice and eliciting a strong response from every corner of the crypto industry for the second time in months.

The tweet originally started when the entrepreneur said that the stock of his electric car company Tesla is “too high” which resulted in the asset collapsing by approximately 10% during the day’s trading session.

Tesla stock price is too high imo

— Elon Musk (@elonmusk) May 1, 2020

Even though many holders of TSLA saw this statement as controversial because of the fact that it is on Twitter, the operator of the @Bitcoin account on the social network (which has more than one million followers) decided to leverage this situation and tweet that the “Bitcoin price is too low imo” in a similar conotation to Musk.

Bitcoin price is too low imo

— Bitcoin (@Bitcoin) May 1, 2020

Later on, Elon Musk laughed at this tweet, sending laughing emojis in a response to it. However, the irony is again there in the latest Bitcoin news, and Musk’s latest comments regarding Bitcoin were obviously made in jest. He is after all known to be somewhat of a fan of cryptocurrency, blockchain (and Dogecoin, too).

🤣🤣

— Elon Musk (@elonmusk) May 1, 2020

Proof for Musk’s affection towards BTC can be seen from an early 2019 episode of ARK Invest’s podcast, when he told the investor Cathie Wood that he thinks Bitcoin’s structure is “quite brilliant” before adding that Ethereum and “maybe some of the other coins” have merit too.

The Tesla CEO Elon Musk also said that Bitcoin and other digital assets have functionality of enabling illegal (but not necessarily immoral) transactions.

“There are transactions that are not within the bounds of the law — there are obviously many laws in different countries — and normally cash is used for these transactions. But in order for illegal transactions to occur, the cash must also be used for legal transactions. You need an illegal-to-legal bridge. That’s where crypto comes in,” Musk stated.