Elon Musk – the CEO of both Tesla and SpaceX – is denying that he houses a bitcoin ATM near his Gigafactory in Nevada.
Could Elon Musk Just Be in Denial?
Things started out last Sunday when Will Reeves – the CEO of crypto payments firm Fold – announced on Twitter that a Liberty X bitcoin ATM had been spotted near Tesla’s Nevada-based operations. The tweet also contained a Google Maps image. Liberty X is a manufacturer and distributor of bitcoin and crypto-based ATMs.
However, Musk was quick to respond with a message of his own, writing simply:
I don’t think this is accurate.
Either way, this isn’t stopping other news outlets and private sources from contradicting Musk and claiming that there is indeed a machine located at the factory. One source is claiming that the ATM, while there, is only available to employees of Tesla, and that the public does not have access to it. In other cases, it is being reported that while Liberty X is responsible for installing the ATM, it is nothing new. It has purportedly been there for some time, and that the ability to sell bitcoin was only recently added to the machine in question.
Liberty X has since provided a statement about the selling feature, claiming:
Once operators activate the feature, consumers can start buying bitcoin with their debit cards from ATMs nationwide.
The company also said that at the time of writing that approximately 5,000 separate machines with this feature are stationed throughout the United States. It also says that it’s looking to install as many as 100,000 machines after the end of 2020.
At press time, there is no straight answer regarding the presence of the machine. Still, it would make sense if it were at the factory considering what a subtle advocate of cryptocurrency Elon Musk has been in the past. We cannot forget that this is the same man that was potentially in the running to serve as the new CEO of Dogecoin, which in the past, Musk has referred to as “the best coin.”
While these executive plans ultimately produced no results, the carmaker’s reputation has grown since that point to give the idea to crypto investors everywhere that he is a fan of digital assets.
A Mixed BTC History
In addition, Musk has often praised bitcoin in the past, and it is often said that bitcoin and Tesla stock share a solid correlation. Whenever Tesla stock moves up, bitcoin appears to follow suit and vice versa.
At the same time, Musk has also been at the center of several cryptocurrency-related scams, including one on Twitter last July that saw his social media account overtaken by a hacker who persuaded people to send their bitcoins to anonymous addresses so he could potentially cash in on digital earnings.