Money Moves July 28, 2021 at 08:30 am

Busta Rhymes tells how Elon Musk, Jack Dorsey and others inspired him to hold Bitcoin

Abu Mubarik July 28, 2021 at 08:30 am

July 28, 2021 at 08:30 am | Money Moves

Busta Rhymes. Photo: Twitter/Busta Rhymes

Trevor George Smith Jr., aka Busta Rhymes, has joined the growing list of celebrities holding bitcoin in the United States and across the globe. In a Twitter post, the rapper and music producer announced that he is now a bitcoin holder.

According to him, he was inspired by Twitter founder Jack Dorsey, Elon Musk, and Cathie Wood after watching them at a B-word conference talk about Bitcoin. “After watching the #bitcoin conference live with @jack, @elonmusk, and @CathieDWood, I’m sold on bitcoin,” Busta Rhymes wrote on Twitter.

The B-Conference had Dorsey, Musk, and Wood as panelists to discuss “Bitcoin As A Tool For Economic Empowerment.” For many viewers, including Busta Rhymes, the three CEOs’ endorsement of bitcoin motivated them to become bitcoin holders.

The rapper was convinced by Musk’s statement explaining why governments are worse than corporations.

“Government is just a corporation in the limit. Sometimes some people are like against corporations but [in favor of] government. It’s like: Guys, the government is just a corporation in the limit. It’s the biggest corporation of all, and it’s got a monopoly on violence. So, if you don’t like corporations, you should really hate government,” the Tesla CEO said.

Musk, who is the founder of Tesla and SpaceX, has been a vocal supporter of bitcoin, the leading cryptocurrency platform in the world. According to Coinsdesk, Musk’s electronic vehicle holds $1.3 billion in bitcoin in the second quarter of this year.

Wood is also one of the influential female bitcoin holders. She is the founder, CEO, and CIO of ARK Invest and holds bitcoin to the tune of $500,000.

Dorsey, on the other hand, concentrated on tech insights at the conference. He has in the past described bitcoin as the future of Twitter, a firm he leads as the CEO. He recently invested $23 million in a bitcoin endowment called Btrust.

Busta Rhymes first tweeted about cryptocurrency asking his 3.8 million followers on Twitter what they think about cryptocurrency. “Anyone here into #crypto? How ya’ll feeling about ?” he quizzed.

He even engaged in a conversation with Mike Tyson, who is also reportedly considering buying cryptocurrency. The two legends exchanged messages.

Busta Rhymes is not the only American rapper to invest in cryptocurrencies. Over the years, hip hop artists like 50 Cent, Snoop Dog, Naz among others have all ventured into the cryptocurrency space. 50 Cent claims to be the first rapper to accept BTC payments for album sales.

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