##What does Elon Musk have to say about BITCOIN
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Who doesn't know the South African-born American entrepreneur and businessman Elon Musk. You'll best recognize him as the co-founder of PayPal, and Tesla Motors, or as the man who created the company SpaceX, so some of us, one day, might reach that elusive goal of colonizing the Red Planet. We all know Elon Musk, but what does the man who became a multimillionaire in his mid-20s have to say about Bitcoin?
Elon Musk, the man who earned his first billion with the sale of PayPal in 2002, moved to Canada at age 17 to avoid mandatory military service in South Africa, to eventually find his way into Stanford University in California to pursue a PhD in energy physics.
However, after just two days he dropped out of Stanford to launch his first company, Zip2 Corporation, which he sold in 1999 for $307 million in cash and $34 million in stock options to a division of Compaq Computer Corporation.
Later that same year, Musk co-founded X.com, an online financial services and payments company, which led to the creation of PayPal as it is known today.
Three short years later, in 2002, PayPal was acquired by eBay for $1.5 billion in stock, making Musk an overnight billionaire.
The tech-savy billionaire went on to found his third company, Space Exploration Technologies Corporation, or SpaceX, in 2002 with the intention of building spacecrafts for commercial space travel, followed by the creation of Tesla Motors in the next year. The rest is, as they say, history.
Bitcoin will be used for illegal transactions
During an interview at Vanity Fair's New Establishment Summit in late 2014, Musk was asked by host Walter Isaacson, if he thought Bitcoin could have the potential to be disruptive to the banking industry.
'I think Bitcoin is probably a good thing', he said, 'I think it’s primarily gonna be a means of doing illegal transactions.'
'But that's not necessarily entirely bad. You know, some things maybe shouldn't be illegal.'
Musk, said that he sees Bitcoin as a necessary bridge between legal and illegal transaction.
'It will be useful for legal and illegal transactions. Otherwise it would have no value as a use for illegal transactions. Because you have to have a legal to illegal bridge', he concluded the topic.
The different social media communities at the time were quit disappointed with the remarks of Musk, who downplayed the legitimacy of Bitcoin, and instead focused on illegal incidents involving the world's most popular digital currency.