Elon Musk Declares: 'I’m Not Promoting Crypto'

In a recent appearance on the X Takeover podcast, hosted by the Tesla Owners Silicon Valley account on Musk’s X platform, Elon Musk shared his current stance on cryptocurrencies. The podcast included segments reposted by members of the Dogecoin (DOGE) community, sparking renewed interest in Musk's views.

Musk’s Views on Bitcoin and Crypto

When asked about Bitcoin and his previous comments on cryptocurrencies, Musk acknowledged that he sees “merit in Bitcoin and maybe some other cryptos.” He expressed his continued fondness for Dogecoin, noting his affection for “dogs and memes.” However, Musk made it clear that he does not plan to actively promote any cryptocurrency. He stated that while he might joke about crypto, he does not intend to engage in serious promotion.

Musk also addressed the topic of videos where he appears to be endorsing cryptocurrencies, clarifying that such videos are likely deepfakes.

Dogecoin Support and Recent Changes

Musk remains a significant supporter of Dogecoin, despite the lack of recent posts about it on X. Tesla and SpaceX continue to accept DOGE for merchandise purchases, and Musk's plan to launch the DOGE-1 mission to the Moon is still on the horizon. While Musk's tweets about DOGE previously had a noticeable impact on its price, his influence has diminished over time.

Notably, last week, Musk’s X platform removed crypto-related emojis, including those for Bitcoin and other cryptocurrencies. This change aligns with Musk’s stated position of not actively promoting crypto, and it has been noted by some in the crypto community.

In summary, while Musk continues to support Dogecoin and acknowledges the value in cryptocurrencies, he has clarified that he will not be engaging in active promotion and has expressed concerns about the authenticity of crypto-related content involving him.