Elon Musk won't promote crypto
Renowned tech innovator Elon Musk recently made an appearance on the X Takeover podcast, an event orchestrated by the Tesla Owners Silicon Valley group. This discussion was broadcasted on Musk’s own social media channel, X. Segments of the interview have since been circulated by enthusiastic members of the DOGE community on the same network.
During the podcast, Musk provided insight into his current viewpoint on Bitcoin, as well as reflecting on past YouTube videos where he was recorded discussing Bitcoin approximately two years ago.
Musk revealed his thoughts on Bitcoin, the foremost digital currency, acknowledging that he sees value in Bitcoin and possibly in a selection of other digital currencies. He professes a particular affection for Dogecoin, the originally playful cryptocurrency, attributing his fondness to his love for “dogs and memes.”
Nevertheless, Musk clarified that he has no plans to actively endorse any cryptocurrency. At the most, he mentioned, his promotions would be “in a humorous manner.” He further commented that any video suggesting he is advocating for a cryptocurrency likely constitutes a deepfake.
This statement seems to have been interpreted by key Dogecoin supporters as an indirect, humorous endorsement of DOGE. They have been sharing this quote alongside memes, including snippets from the “Lion King” movie.
As deduced from his participation in the podcast, Musk’s support for Dogecoin remains steadfast, despite a recent lull in mentions of the currency on X. Nonetheless, both Tesla and SpaceX’s digital shops persist in acknowledging DOGE for purchases of merchandise, with plans for the DOGE-1 moon mission still on the horizon.
Historically, Musk’s tweets about this meme-based digital coin significantly influenced its market value, propelling it upwards. However, the impact of Musk's endorsements on Dogecoin’s market price has substantially diminished over time. It was recently observed that Musk's X platform ceased featuring emojis for Bitcoin and other cryptocurrencies, which no longer appear alongside crypto-related hashtags.
