During the previous bull run, Elon Musk had a significant impact on the prices of many cryptocurrencies. The controversial CEO of Tesla and Twitter (now known as X), among others, has been largely silent on altcoins and Bitcoin (BTC) since the market crash in 2022.
However, in a recent interview, Musk spoke out again about cryptocurrencies, including Bitcoin and the popular memecoin Dogecoin (DOGE). He emphasized that he sees value in BTC and other cryptocurrencies.
In the interview, titled “X Takeover,” Musk answered questions about cryptocurrencies. According to the Tesla CEO, the crypto market has intrinsic value. “I think Bitcoin has value, and maybe other cryptos have value,” Musk said.
He emphasized the role of BTC and other altcoins as independent assets, free from government oversight.
Dogecoin remains Musk’s favorite
Musk also broke the silence surrounding DOGE, the popular memecoin that surged in value in 2021, thanks in part to its own memes and references. “I have a soft spot for Dogecoin because I love dogs and memes,” the CEO explained in the interview.
Musk remains connected to the crypto world
Despite the controversial billionaire’s reticence about the crypto market, Musk remains closely associated with Bitcoin and meme coins like Dogecoin. Tesla still owns nearly 10,000 BTC coins, currently worth almost $650 million. The crypto community hopes that the CEO will buy more crypto coins in the future and integrate new blockchain features into the social media platform X.
Crypto prices continue to fall
While Elon Musk’s words used to have a big impact on crypto prices, that is now significantly less the case. In the past 24 hours, the price of Bitcoin (BTC) dropped by 3% to a current level of $64,500.
Dogecoin (DOGE) took an even bigger hit, dropping 5% over the same period, leaving the memecoin worth around $0.120. This is significantly lower than the $0.174 the altcoin hit in May.
Source: https://newsbit.nl/elon-musk-praat-weer-over-crypto-zijn-voorkeur-voor-dogecoin-blijft-onveranderd/
