Kimbal Musk: ‘When we invested in Bitcoin, we were very ignorant’

Feb 28, 2022

Kimbal Musk, the brother of Tesla Co-Founder and CEO Elon Musk, says that the electric vehicle manufacturer was originally “very ignorant” of Bitcoin’s environmental concerns when it added BTC to its balance sheet.

Tesla filed an annual report with the U.S. Securities and Exchange Commission (SEC). This report stated that Tesla had invested $1.5 billion in Bitcoin.

Kimbal, who is a Tesla board member, was asked at ETHDenver 2022 (February 17-20, 2022) if Bitcoin’s environmental concerns could push more companies to invest in Ethereum instead of Bitcoin in the future.

When we invested in Bitcoin, we were very ignorant. We had no idea of the environmental impact. We literally didn’t know, right?

So, we really were not informed enough when we made that decision. We don’t necessarily regret it, but we are glad that things are moving in a more environmentally friendly direction.

So, we really were not informed enough when we made that decision. We don’t necessarily regret it, but we are glad that things are moving in a more environmentally friendly direction.