Bitcoin, Crypto Mining News, News & Updates

Elon Musk; Tesla haven’t Installed a BTC ATM

The CEO of Tesla and SpaceX, Elon Musk, denies that he installed a bitcoin ATM near his Gigafactory in Nevada.

Does Elon Musk Deny It?

Things started last Sunday when Will Reeves has announced on Twitter that a Liberty X Bitcoin ATM has been spotted near Tesla’s Nevada-based operations. The tweet also included a Google Maps image. Liberty X is a manufacturer and the supplier of bitcoin and crypto-based ATMs.

Though Musk was fast to respond with a message of his own, merely stating:

“I don’t think this is accurate.”

In any case, it isn’t stopping the other news outlets and the private sources from contradicting Musk and then claiming that there was indeed a machined that was located at the factory. A source claims that the ATM, while there, is only available to the employees of Tesla, and then the public does not have any access to it. In some cases, it was reported that while Liberty X is responsible for installing the ATM, it is nothing new. It has probably been there for a time, and then the ability to sell the bitcoin was only currently added to the machine.

Liberty X had provided a statement about the feature, stating:

“Once operators activate the feature, consumers can start buying bitcoin with their debit cards from ATMs nationwide.”

The company also stated that approximately 5,000 distinct machines with the feature are stationed in the United States during that time of the writing. It also says that it is looking to install as many as 100,000 machines by the end of 2020.

During the press time, there was no straight answer regarding the occurrence of the machine. Still, it will make sense it was at the factory considering what a subtle advocate of cryptocurrency Elon Musk had been in the past. It cannot be forgotten that it is the same man that was potentially in the running that will serve the new CEO of Dogecoin, which is in the past; Musk had mentioned to as “the best coin.”

Although the executive plans eventually produced no results, the carmaker’s reputation has grown ever since that point to give the crypto investors the idea that he is a fan of the digital assets.

A Varied BTC History

Moreover, Musk had often praised bitcoin in the past, and it is often said that the bitcoin and Tesla stock shared a definite correlation. On every occasion Tesla stock moves up, bitcoin has appeared to be following suit and vice versa.

Then at the same time, Musk had also been at the core of several cryptocurrency-related scams, it includes the one on Twitter in July that has seen his social media account that has overtaken by a hacker who had persuaded the people to send their bitcoins to anonymous addresses so he could potentially cash in on the digital earnings.

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