Bitcoin News and Finance
Elon Musk: Bitcoin Will Make It — Dogecoin to the Moon Skip to main content

Elon Musk: Bitcoin Will Make It — Dogecoin to the Moon

Elon Musk: Bitcoin Will Make It, Dogecoin to the Moon

Tesla CEO and Twitter chief Elon Musk has made bullish statements about bitcoin and dogecoin despite crypto market sell-offs. He said bitcoin “will make it” and “DOGE to the moon.” Amid crypto winter and the chaos surrounding bankrupt crypto exchange FTX, Musk believes there is a future for bitcoin, ethereum, and dogecoin.

Elon Musk Thinks Bitcoin ‘Will Make It’

Tesla, Spacex, and Twitter chief Elon Musk commented on the future of bitcoin Monday. Responding to a Twitter user asking about where the price of the cryptocurrency will be in another year given that the crypto is currently trading at about $16K, down from about $69K a year ago, Musk wrote: “BTC will make it, but might be a long winter.”

Elon Musk: Bitcoin Will Make It — Dogecoin to the Moon

Musk’s comment may have boosted the price of bitcoin. Immediately after he tweeted, the price of BTC soared sharply from below $16K. At the time of writing, bitcoin is trading at $16,987.

The billionaire, who recently acquired social media giant Twitter, previously revealed that he personally owns bitcoin, as do Tesla and Spacex. Tesla’s latest financial filings with the U.S. Securities and Exchange Commission (SEC) showed that the company is holding about $218 million in digital assets. In July, the electric car company sold 75% of its BTC holdings.

Musk has said on several occasions that bitcoin is suitable as a store of value. Despite Tesla’s BTC sale, the billionaire CEO stressed: “We are certainly open to increasing our bitcoin holdings in [the] future, so this should not be taken as some verdict on bitcoin.”

Musk Says Dogecoin ‘to the Moooon’

The Tesla CEO also recently made a bullish comment about the meme cryptocurrency dogecoin (DOGE), resulting in a price surge. In a Twitter Space discussion Saturday, he exclaimed:

Doge to the moon.

Musk has long been a supporter of the meme crypto; he is sometimes known by the DOGE community as the Dogefather. The billionaire previously revealed that he owns some dogecoins and will keep buying and supporting the meme cryptocurrency. He believes dogecoin “has potential as a currency.”

Tesla currently accepts dogecoin for some merchandise. Musk also said that Spacex will soon do the same. His Boring Company also accepts the meme coin for some rides. His newly acquired social media platform, Twitter, recently filed paperwork to operate a payment business. Dogecoin supporters believe that Musk plans to integrate DOGE payments into Twitter.

Musk on the Future of Crypto

Musk was asked about the future of cryptocurrencies during the Twitter Space event Saturday given the FTX implosion.

“I would reaffirm that, if you have crypto, you should have it in a directly-accessible cold wallet. Not in an exchange. That would be wise,” he advised, elaborating:

I think there probably is a future for bitcoin, ethereum, and doge. I can’t really speak to the others. But if you’ve got one of those three in a cold wallet, and off an exchange, I think my guess is it works out well.

Do you agree with Elon Musk about bitcoin and dogecoin? Let us know in the comments section below.

Labels:

Comments

Post a Comment

Popular posts from this blog

Custodial Lightning Network Service Attack Discovered by LN ‘Newbie’ — Hacker Strikes 6 LN Custodians

On September 18, a Redditor posted to the r/bitcoin forum and explained how he discovered a way to “attack [the] lightning Network’s custodial services.” The Reddit account dubbed “Reckless Satoshi” wanted to figure out if a “discrepancy between real routing fees and service’s transaction fee can be exploited for a profit.” The researcher disclosed that he wanted to see how large the damage could be and said “it is bad.” 6 Lightning Network Custodial Services Attacked, Researcher Discloses Findings to Offenders Prior to Public Disclosure A Redditor called Reckless Satoshi published a disclosure post on r/bitcoin this past Saturday and disclosed how he had found a vulnerability with routing fees and some of the Lightning Network’s custodial services. The research attack was done in good faith and after it was complete he disclosed the bugs to the offending services before publishing his findings. Reckless Satoshi used the Lightning Network (LN) attack on six different services incl
Post a Comment
Read more

Axie Infinity Down 40% Since Last Week’s Price High, Protocol Revenue Outshines Competitors

Last week, the game token leveraged within the Axie Infinity gaming universe skyrocketed to all-time highs, while other crypto markets remained extremely lackluster. During the last seven days, Axie Infinity’s platform token has dropped significantly in value shedding more than 12%. Meanwhile, the game platform’s smooth love potion token has slid over 8% over the last 24 hours. Axie Infinity Down More Than 40% Since All-Time High Not too long ago, the axie infinity (AXS) token was a topical conversation because it reached an all-time high on July 15. At the time, AXS managed to capture $28.93 per unit and since then it has shed 12.8% during the last seven days. The axie infinity (AXS) token is used within the blockchain-based game that involves battles between token-based creatures called “Axies.” AXS is used for the game’s governance system as well as other actions within the game. At the time of writing axie infinity (AXS) is exchanging hands for $16.70 per coin. AXS/USD on Ju
Post a Comment
Read more

Play-to-Earn Game From Polker (PKR) Exchange Listing – Endorsed by Akon

The Play-to-Earn NFT based Polker.Game ‘s native token $PKR has been officially listed on the popular centralized exchange BitMart. Polker.game has been in the spotlight recently as Akon, the American R&B superstar and record producer gave his official endorsement of polker stating that the “game is revolutionary” and that Polker is “hands down.. the best play to earn, NFT game in the space.”. With the BitMart listing and celebrity endorsement from Akon, Polker is perfectly positioned to become a major player in the Play-to-Earn league. Watch Akon’s Video Here What is Play-to-Earn? Although not a new concept, play-to-earn has become a trending term due to the popularity of the NFT game AXIE infinity. In the past, previous play-to-earn games have also achieved success – however, thanks to the huge amount of development in the blockchain space in recent years the gaming experience is now massively improved. Play-to-Earn games are essentially free to play and open to anyone and
Post a Comment
Read more

China to Crack Down on Copyright Infringement Through NFTs

Authorities in China are going after creators of digital collectibles based on other people’s works of art, the use of which was not authorized. The government offensive is part of a campaign to combat online copyright infringement and piracy with the participation of several departments. Regulators in China Move to Strengthen Copyright Supervision of Online Platforms The National Copyright Administration of China (NCAC) has recently launched a campaign against copyright infringement and piracy on the internet, together with the Ministry of Industry and Information Technology, the Ministry of Public Security, and the State Internet Information Office of the People’s Republic. A major objective of the initiative is to improve copyright supervision of online businesses by investigating cases involving the sale and distribution of infringing products on short video, live broadcast and e-commerce platforms, and promptly dealing with infringing content, the agency announced in a press r
Post a Comment
Read more
Blogarama - Blog Directory