Benzinga | Jul 23, 2021 05:22PM EDT

Busta Rhymes Is 'Officially Holding Bitcoin' Thanks To Elon Musk, Jack Dorsey And Cathie Wood

What Happened: American rapper Busta Rhymes told his Twitter followers that he was now sold on Bitcoin (CRYPTO: BTC).

After watching the #Bitcoin conference live with @jack @elonmusk @CathieDWood i'm sold on Bitcoin.

officially holding Bitcoin.

Looking into eth next.

-- Busta Rhymes (@BustaRhymes) July 22, 2021

The rapper said that he was now officially holding Bitcoin and was looking into Ethereum (CRYPTO: ETH) next, after being inspired by a discussion between Elon Musk, Cathie Wood, and Jack Dorsey at the B Word conference.

"When you have brilliant minds coming together through an unfiltered source. I like that. Speaks directly to me. They all are using it and more importantly holding it," he added.

Busta Rhymes was especially convinced by a statement from Elon Musk explaining why governments are no worse than corporations.

MY BIGGEST TAKEAWAY WAS THIS.....

The way @elonmusk phrased this statement has got me seriously thinking... especially what's been happening around the world recently.

Government and it's monopoly on Violence... damnnn pic.twitter.com/RsX0oSIeLJ

-- Busta Rhymes (@BustaRhymes) July 22, 2021

"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," said the Tesla Inc (NASDAQ:TSLA) CEO.

Musk was explaining the context in which he believes Bitcoin can have an empowering effect for individuals and increase the power of individuals relative to government.

He also revealed that Bitcoin made up the majority of his crypto holdings, followed by Ethereum and Dogecoin (CRYPTO: DOGE).

Price Action: At press time, Bitcoin was trading at $32,469, gaining 0.92% over the past 24-hours.

Ethereum was up 1.23%, trading at a price of $2,044, while Dogecoin was down by 1.34%, trading at $0.1879.

Photo: Mikamote via Wikipedia

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