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Tesla boss Elon Musk on Wednesday said he personally has invested in bitcoin and other cryptocurrencies but he does not manipulate or “dump” the digital currencies.

Musk said he believes in cryptocurrencies as a way to “increase the power of the individual in relation to government,” and that he has invested in ethereum and dogecoin in addition to bitcoin. this he said in an online panel discussion that included Twitter and Square founder Jack Dorsey.

The tesla boss reported that he also losses money when the value of digital currencies drops but he has not been selling notwithstanding the volatility

“I pump but I don’t dump,” he explained to the forum sponsored by the Crypto Council for Innovation.

“I would like to see bitcoin succeed,” he said

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