Elon Musk refused to promote any cryptocurrencies on the Internet

Tesla and SpaceX CEO Elon Musk said that he has no intention of promoting cryptocurrencies, except in a joking way. He expressed his opinion during the X Takeover podcast. The businessman noted that bitcoin BTC $65,551.74 Bitcoin -0.38% Market capitalization $1.3 trillion VOL. 24 hours $0.56 billion and possibly some other cryptocurrencies have their advantages. Musk also admitted that he favors Dogecoin DOGE $0.02 Department Of Government Efficiency 3.64% Market capitalization $22.44 million VOL. 24 hours $0.22 billion because he likes dogs and memes.

The billionaire clearly emphasized that if someone sees a video of him promoting a digital asset, it is a dipfake. Musk urged to double-check information about his statements about cryptocurrencies or platforms that are quoted on Platform X.

Musk has repeatedly provoked the growth of Dogecoin by his actions on his own social network. For example, in February 2023, the cryptocurrency’s price reacted to a series of tweets by Musk with his dog Floki. In April, the price of DOGE increased by 25% after the social network’s logo was changed to the image of the cryptocurrency mascot, and the return of the old logo led to an 8% drop in DOGE. Later, Musk put the «Ð» symbol in his profile description, which caused the meme cryptocurrency to rise by 9%.

Recently, we reported that the well-known cryptocurrency analyst Kaleo predicts a 706% to 1512% increase in Dogecoin’s value. The probable bullish trend is related to the similar price activity that memecoin demonstrated before the previous significant price jumps.