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Elon Musk, CEO of Tesla and Chief of Twitter made bullish statements about Bitcoin and Dogecoin despite the crypto market selloff. He said Bitcoin “will succeed” and “DOGE to the moon.” Amid the turmoil surrounding cryptocurrency winter and bankrupt FTX, Musk believes Bitcoin, Ethereum and Dogecoin have a future.
Elon Musk thinks Bitcoin will be ‘successful’
Tesla, SpaceX and Twitter chief Elon Musk comments on Bitcoin’s future on Monday did. In response to his Twitter user asking what the price of the cryptocurrency will be in another year, given that it currently trades at around $16,000, down from around $69,000 a year ago. , Musk wrote:BTCin time, but it may be a long winter.
Musk’s comments may have pushed the price of Bitcoin higher. Shortly after he tweeted,BTC price surged from his below $16,000. At the time of his writing, Bitcoin is trading at $16,987.
The billionaire who recently acquired Twitter, the social media giant, has revealed that he personally owns Bitcoin, along with Tesla and Spacex. Tesla’s latest financial filings with the U.S. Securities and Exchange Commission (SEC) show that the company has approximately $218 million in digital assets. In July, the electric car company sold 75% of itsBTCholdings.
Musk has stated several times that Bitcoin is a good store of value. Despite Tesla’s BTC sale, his billionaire CEO stressed:
Musk says he will bring Dogecoin ‘to the moon’
Tesla CEO recently announced his dogecoin for meme cryptocurrency I made a bullish comment about (DOGE). lead to rising prices. In his Twitter Space discussion on Saturday, he exclaimed:
Doge to the Moon.
Musk has long been a proponent of memetic encryption. He is sometimes known in the DOGE community as his Dogefather. The billionaire previously owned several Dogecoins and has revealed that he will continue to buy and support the Meme cryptocurrency.He believes Dogecoin has “potential as a currency.” I’m here.
Tesla now accepts Dogecoin for some products. Musk also said Spacex will soon do the same. His boring company also accepts meme coins on some rides.His newly acquired social media platform, his Twitter, recently filed paperwork to run a payments business. . Dogecoin supporters believe Musk plans to integrate Doge payments into Twitter.
Musk on the Future of Cryptocurrencies
Musk was asked about the future of cryptocurrencies in light of the FTX implosion at a Twitter Space event on Saturday.
“If you have virtual currency, I would like to remind you that it must be stored in a cold wallet with direct access. It is not an exchange.
Bitcoin, Ethereum , I think Doge probably has a future.I can’t really speak to others.But if one of these three is in a cold wallet and away from exchanges, I think it will work.
Image Credits: Shutterstock, Pixabay, Wiki Commons
