Tesla Inc. (NASDAQ:TSLA) CEO Elon Musk in a conversation on Clubhouse early Monday said he is a “supporter of Bitcoin.”

The billionaire entrepreneur said many of his friends have tried to convince him to get involved with Bitcoin over the years.

What Happened: Musk said he was fed with a “slice of Bitcoin cake” in 2013. The Tesla CEO said he should have bought Bitcoin at least eight years ago and admitted he was late to the party.

See also: How to Buy Bitcoin (BTC)

“Bitcoin is a good thing,” Musk said. “So, I am a supporter of Bitcoin.”

“Bitcoin is really on the verge of getting broad acceptance” in the world of conventional finance, as per Musk.

Why It Matters: Musk updated his Twitter bio on Friday to say just "#Bitcoin," and the cryptocurrency immediately shot up to above $38,000 level.

Bitcoin has since retreated, trading at $33,502.45 at press time.

The Tesla CEO also has a long history of tweeting about Dogecoin that has often sent the cryptocurrency soaring.

Benzinga writer Shivdeep Dhaliwal contributed to this report.

Photo courtesy: Steve Jurvetson via Flickr