Elon Musk Affirms Strong Support For Dogecoin And Bitcoin Holdings At Tesla And SpaceX
Elon Musk, the CEO of Tesla and chief of SpaceX, confirmed that he still holds a significant amount of dogecoin (DOGE) and revealed that SpaceX continues to possess a substantial amount of bitcoin (BTC).
Musk, known as the Dogefather in the DOGE community, expressed his commitment to supporting the meme cryptocurrency. Tesla and SpaceX currently accept dogecoin for certain transactions, showcasing Musk’s endorsement of the digital asset. While facing a lawsuit alleging involvement in a crypto pyramid scheme, Musk seeks its dismissal, asserting that supporting DOGE through tweets is not unlawful. Additionally, Musk mentioned that SpaceX owns bitcoin, aligning with Tesla’s previous investments in BTC.
Despite selling a portion of Tesla’s bitcoin holdings in 2022, Musk remains open to increasing the company’s bitcoin holdings in the future. While Musk has emphasized limited focus on cryptocurrencies, his social media platform, X, is acquiring money transmitter licenses, with plans to transform it into a robust financial platform, potentially incorporating cryptocurrency functionalities. Musk envisions X as a platform where users can conduct financial transactions without the need for a traditional bank account.
Clever Robot News Desk 18th January 2024
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