Elon

Elon Musk

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A recent tweet by <a href="https://u.today/elon-musk-related-crypto-alert-issued-what-its-about" rel="noopener noreferrer nofollow">Elon Musk</a> has garnered significant attention from the Bitcoin (BTC), XRP and Dogecoin (DOGE) communities. In&nbsp;his characteristic style, Tesla and SpaceX CEO Elon Musk made a tweet on X&nbsp;prompting&nbsp;speculation and interpretation among his followers.
The tweet,&nbsp;which&nbsp;offered a perspective on the workings of the Federal Reserve, has sparked a reaction from the crypto community. In&nbsp;a compelling tweet, <a href="https://twitter.com/elonmusk/status/1789394404446282213" rel="noopener noreferrer nofollow">Musk</a> drew an analogy between the United States Federal Reserve and the popular board game Monopoly.
Musk compared the Federal Reserve's ability to create money to the Monopoly game's rule that allows the bank&nbsp;to never go&nbsp;bankrupt, implying that, like the game, the Fed can always print more money. This&nbsp;metaphor emphasizes concerns about the Fed's quantitative easing (QE) program and its impact on inflation and currency value.
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 How the Federal Reserve works <a href="https://t.co/3rRhbBfcJe" rel="noopener noreferrer nofollow">pic.twitter.com/3rRhbBfcJe</a>— Elon Musk (@elonmusk) <a href="https://twitter.com/elonmusk/status/1789394404446282213?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">May 11, 2024</a>
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In the aftermath of Musk's X post, cryptocurrency communities&nbsp;like&nbsp;<a href="https://u.today/bitcoin-dogecoin-and-xrp-now-accepted-as-payment-by-luxury-tour-operator-scott-dunn" rel="noopener noreferrer nofollow">Bitcoin, XRP and Dogecoin</a> responded in&nbsp;a variety of&nbsp;ways, offering their perspectives.
In response to Musk's post, financial analyst Michaël van de Poppe advocates Bitcoin, silver and gold, predicting that QE might&nbsp;be reintroduced.
Some&nbsp;members of the Bitcoin community&nbsp;interpreted Musk's post on how the Federal Reserve works as a recognition of the need for sound monetary policies and the potential benefits of a deflationary digital asset like Bitcoin.&nbsp;"Bitcoin fixes this," they said. This&nbsp;belief stems from the idea that Bitcoin is sound money due to its supply cap and predictable issuance schedule.
Some Dogecoin community members replied, including co-founder Billy Markus, also known as "Shibetoshi&nbsp;Nakamoto" on X. Prominent Dogecoin community member "Sir Doge of the coin" also noted, "Dogecoin fixes this."
XRP influencer "XRP crypto wolf" said, "Save yourself with XRP and crypto."

BTC, XRP, DOGE Communities Abuzz Over Elon Musk's X Message

U_Today

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