Dogecoin (DOGE) proponent and Tesla CEO Elon Musk lately revealed that he isn’t precisely keen on Bitcoin and another cryptos. His feedback would possibly come as a shock, contemplating how Musk has to date been vocal and supportive in regards to the foremost meme coin, Dogecoin.
What Musk Had To Say About Bitcoin And Different Cryptos
Musk talked about throughout an look on the X takeover podcast hosted by Tesla Homeowners Silicon Valley that he received’t be selling crypto, and at most, it may very well be in a “joking manner.” He additional stated, “In the event you see me pumping crypto, it’s not me,” suggesting he has no affinity or assist for cryptocurrencies. Nevertheless, Musk admitted that there’s some “advantage” in Bitcoin and “another cryptos.”
In the meantime, the Tesla CEO additionally addressed his fondness for Dogecoin, stating that he kind of has a “smooth spot” for the foremost meme coin as a result of he likes “canines and memes.” Musk had beforehand revealed that he holds DOGE and has expressed his assist for the meme coin at completely different instances. Earlier in March, he revealed that Tesla will allow Dogecoin funds “in some unspecified time in the future.”
In the meantime, it’s price mentioning that Musk lately caught the crypto group’s consideration when he up to date his X (previously Twitter) profile image to one in every of him with laser eyes. This meme is often thought of a bullish stance on Bitcoin. Many within the crypto group, together with Dennis Porter, speculated that Musk’s transfer meant that the Tesla CEO was now bullish on Bitcoin, particularly contemplating his ties with Donald Trump, who has additionally grow to be bullish on BTC.
Nevertheless, Musk’s current assertion suggests that he’s nonetheless removed from being a agency believer in Bitcoin or every other crypto moreover Dogecoin. Earlier in Might, Musk had additionally refuted rumors that he had mentioned crypto with Trump, though he admitted that he favors “issues that shift energy from [the] authorities to the individuals, which crypto can do.”
Musk’s Relationship With Bitcoin Is “Neither Right here Nor There”
Musk had beforehand acknowledged in 2020 that he’s “neither right here nor there” on Bitcoin, and it nonetheless seems this manner 4 years on. Curiously, in 2021, Tesla started accepting Bitcoin funds for automobile purchases however rapidly made a U-turn three months later. Musk revealed that the automobile firm would not settle for BTC funds as a result of vitality issues.
Musk additionally talked about again then that they’d resume permitting Bitcoin transactions as soon as it’s confirmed that miners there are over 50% of unpolluted vitality getting used for Bitcoin mining operations, though that has but to occur. In the meantime, the Tesla CEO confirmed that they had no plans to dump all their Bitcoin holdings. Information from Bitcoin Treasuries reveals that Tesla nonetheless holds 9,720 BTC ($650 million).
Featured picture created with Dall.E, chart from Tradingview.com