Elon Musk, CEO of Tesla, expressed a positive perspective on Bitcoin and hinted at an interest in other cryptocurrencies during the X Takeover event. Musk acknowledged Bitcoin’s value and indicated that he sees merit in various digital currencies, though he did not specify which ones.
Musk, who has previously shown a playful interest in Dogecoin—a cryptocurrency featuring a Shiba Inu dog—reiterated his fondness for it. “I sort of have a soft spot for Dogecoin because I just like dogs and memes,” he remarked, reflecting his lighthearted approach to the crypto market.
Despite his personal interest, Musk made it clear that he does not actively endorse cryptocurrencies. He addressed the misuse of his image in cryptocurrency scams, stating, “I’m not going to be promoting crypto—at most, in a joking way.” He cautioned against scams, adding, “If you see me pumping crypto, it’s not me.”
Musk’s image has been exploited in various scams, including Twitter hacks and fraudulent advertisements, leading to significant losses for victims. At the event, he urged attendees to verify the authenticity of crypto-related promotions to avoid falling prey to such schemes.
Tesla, under Musk’s direction, continues to hold a substantial amount of Bitcoin. As of the last quarter of 2023, Tesla’s Bitcoin holdings remained stable, valued at approximately $387 million with over 9,720 BTC, according to Bitcoin Treasuries. This indicates Tesla’s sustained commitment to cryptocurrency within its corporate treasury.
Musk’s views on cryptocurrency have evolved over time. In 2021, he briefly announced that Tesla would accept Bitcoin as payment for its vehicles, though this decision was soon retracted. Despite this, Tesla retains its Bitcoin holdings and Musk has suggested that Dogecoin might eventually be accepted as payment by Tesla.
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