Bitcoin

Elon

Dogecoin

Elon Musk

<ul>
 <li>Musk supports Dogecoin humorously but values Bitcoin’s merits.</li>
 <li>Warnings about deepfake endorsements emphasize cautious crypto promotion.</li>
</ul>
Elon Musk recently appeared on the X Takeover podcast hosted by Tesla Owners Silicon Valley, where he discussed his views on Bitcoin and other cryptocurrencies. Musk expressed that he sees some merit in Bitcoin and other cryptos but clarified that he does not intend to actively <a href="https://www.crypto-news-flash.com/dogecoin-ascends-to-meme-blue-chip-status-as-elon-musk-teases-the-everything-app-with-doge-integration-imminent/" rel="noopener noreferrer nofollow">promote</a> any of them.
Despite his strong support for Dogecoin due to his appreciation for dogs and memes, as some CNF <a href="https://www.crypto-news-flash.com/elon-musks-latest-dogecoin-meme-prepares-price-for-possible-surge-can-doge-hit-0-20/" rel="noopener noreferrer nofollow">coverages</a> reported before, he emphasized that any promotion he might do would be in a joking manner. Musk also warned against videos showing him endorsing crypto, stating that such videos are likely deepfakes.
Additionally, Collin Brown perfectly phrased Musk’s sentiment in his tweet, stating that Musk sees merit in Bitcoin and possibly other cryptos and has a soft spot for Dogecoin because he likes “dogs and memes,” but he doesn’t intend to promote any crypto seriously—only in a joking way.
<blockquote class="twitter-tweet" data-width="550" data-dnt="true">
 Elon Musk said on the podcast that there’s merit in <a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#Bitcoin</a> and possibly some other cryptos. He has a soft spot for the original meme cryptocurrency, <a href="https://twitter.com/hashtag/Dogecoin?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#Dogecoin</a>, because he likes “dogs and memes” <img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f415.png" alt="🐕" class="wp-smiley" style="height: 1em; max-height: 1em;"><img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f602.png" alt="😂" class="wp-smiley" style="height: 1em; max-height: 1em;">. However, he doesn’t intend to promote any crypto seriously—at most, he might… <a href="https://t.co/JDtMDlzCF2" rel="noopener noreferrer nofollow">pic.twitter.com/JDtMDlzCF2</a>
 — Collin Brown (@CollinBrownXRP) <a href="https://twitter.com/CollinBrownXRP/status/1817997534016520397?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">July 29, 2024</a>
</blockquote>
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Furthermore, some other leading Dogecoin army accounts interpreted Musk’s comments as humorous support for DOGE, sharing his quotes and memes from the “Lion King” animated movie that they circulated in their tweets.
According to a tweet by Tesla Owners Silicon Valley, they expressed their heartfelt gratitude to Musk for joining the podcast, highlighting his passion for innovation and genuine care for his community at Tesla and SpaceX. Sir Doge of the Coin also tweeted Musk’s statement:
<blockquote>
 I’m not going to be promoting crypto—at most, in a joking way. If you see me pumping crypto, it’s not me. I do think there’s merit in Bitcoin and maybe some other cryptos, and I’ve sort of got a soft spot for Dogecoin because I like dogs and memes.
</blockquote>
Despite frequently tweeting about Dogecoin on X, Musk remains a <a href="https://www.crypto-news-flash.com/elon-musks-x-post-sends-meme-coin-soaring-with-94-surge-is-this-the-next-dogecoin-project/" rel="noopener noreferrer nofollow">supporter</a>, with Tesla and SpaceX accepting DOGE for merchandise and planning the DOGE-1 moon mission. For example, a recent tweet from the account Tesla Owners Silicon Valley expressed sincere gratitude for Musk joining them at @theXtakeover and acknowledging Bitcoin’s merits, which meant a great deal to their community.
<blockquote class="twitter-tweet" data-width="550" data-dnt="true">
 .<a href="https://twitter.com/elonmusk?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">@elonmusk</a> ,
 I wanted to take a moment to express my heartfelt gratitude for joining us at the <a href="https://twitter.com/theXtakeover?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">@theXtakeover</a> ! It truly meant a lot to our community that you took the time out of your busy schedule to attend this event. You not only demonstrate a passion for your innovative… <a href="https://t.co/fIxuP211pL" rel="noopener noreferrer nofollow">pic.twitter.com/fIxuP211pL</a>
 — Tesla Owners Silicon Valley (@teslaownersSV) <a href="https://twitter.com/teslaownersSV/status/1817708380372586807?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">July 28, 2024</a>
</blockquote>
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Previously, Musk’s tweets had a significant impact on Dogecoin’s price. For example, one of our previous <a href="https://www.crypto-news-flash.com/dogecoin-investors-watch-out-twitter-and-elon-musk-stop-crypto-wallet-development-doge-drops-sharply/" rel="noopener noreferrer nofollow">coverages</a> on Dogecoin investors noted that Twitter and Elon Musk stop crypto wallet development – DOGE drops sharply. According to today’s CoinMarketCap data, Dogecoin (DOGE) is trading at the price of $0.1285 with a decrease of 1.07% in the past day and 6.90% in the past week. See DOGE price chart below.

<div class="cryptoboxes" id="mcw-630826" data-realtime="on">
 <div class="mcw-chart mcw-chart-light" data-font="inherit" data-coin="dogecoin" data-symbol="DOGE" data-currency="USD" data-rate="1.000268" data-type="chart" data-view="day" data-theme="light" data-smooth="true" data-areacolor="" data-bgcolor=""></div>
</div>

Elon Musk Reveals Soft Spot for Dogecoin, Acknowledges Bitcoin’s Merits

Crypto News Flash

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