Tesla CEO Elon Musk has an on-again-off-again relationship with cryptocurrency.
This week, he appears favorably inclined in the direction of Bitcoin, asserting that he sees “some benefit” in it and unspecified different cryptocurrencies, and reiterating his enthusiasm for the dog-themed meme coin Dogecoin.
Talking at an X Takeover occasion, Musk mentioned that, “I do suppose there’s some benefit in Bitcoin and possibly a few of the different crypto,” including, “I kind of have a smooth spot for Dogecoin, as a result of I identical to canine and memes.”
In a dialogue that targeted on the usage of his picture to advertise crypto scams, Musk mentioned that, “I am not going to be selling crypto—at most, in a joking means.” He added that, “In the event you see me pumping crypto, it isn’t me.”
Scams utilizing the Tesla CEO’s picture have raked in hundreds of thousands of {dollars} in crypto from unsuspecting victims, evolving in sophistication from hacks of his Twitter account to the use of his face in pretend adverts, and deepfake videos.
The proliferation of spam and rip-off bots was a key consider Musk’s decision to buy Twitter, which he subsequently rebranded as X. In April, he announced a “system purge” of bots and trolls on the platform, threatening to convey “the complete pressure of the legislation to bear upon them.”
Talking at X Takeover, Musk warned Twitter customers to be “cautious” of scams, including that upon encountering any crypto-related promotions: “I’d double test whether or not that’s actual.”
Musk has gone forwards and backwards over cryptocurrency. In 2021, he announced a short-lived initiative for Tesla to just accept Bitcoin as cost for its automobiles. The corporate continues to hold Bitcoin as a part of its company treasury.
The Tesla CEO has additionally been an enthusiastic advocate of Dogecoin, suggesting that “in some unspecified time in the future” the EV producer ought to settle for it as cost.
Edited by Stacy Elliott.
