Tesla CEO and Twitter chief Elon Musk has made bullish statements about bitcoin and dogecoin despite the crypto market sell-offs. He said bitcoin “will make” and “DOGE to the moon.” Amid the crypto season and the chaos surrounding the bankrupt crypto exchange FTX, Kasturi believes there is a future for bitcoin, ethereum, and dogecoin.
Elon Musk Thinks Bitcoin ‘Will Make It’
Tesla, Spacex, and the head of Twitter Elon Musk commented on the future of bitcoin Monday. Responding to a Twitter user asking about where the price of cryptocurrencies will be in the next year shows that the crypto is currently trading around $16K, down from around $69K a year ago, Musk wrote: “BTC will make it, but it may be a long season.
Musk’s comments may have boosted bitcoin prices. Immediately after he tweeted, the price BTC sored sharply from below $16K. At the time of writing, bitcoin is trading at $16,987.
The billionaire, the new acquired social media giant Twitter, previously revealed that he private property bitcoin, as well Tesla and SpaceX. Tesla’s latest financial filings with the US Securities and Exchange Commission (SEC) show that the company is holding $218 million in digital assets. In July, the electric car company 75% sold from her BTC ownership.
Kasturi has said on several occasions that bitcoin qualifies as a store value. Although Tesla’s BTC Sale, billionaire CEO stressed: “We are definitely open to increasing our bitcoin holdings in [the] future, so this should not be considered as some verdict on bitcoin”.
Musk Says Dogecoin ‘is Moooon’
The Tesla CEO also recently made bullish comments about the dogecoin (DOGE) cryptocurrency meme, resulting in prices spring. In a Twitter Space discussion on Saturday, he said:
Doge to the moon.
Kasturi has long been a supporter of the crypto meme; he is sometimes known by the DOGE community as the Dogefather. The billionaire previously revealed that he owns some dogecoins and will keep buying and supporting cryptocurrency meme. He believes dogecoin “has potential as a currency.”
Tesla now accepts dogecoin for some merchandise. Musk said so too Spacex will soon do the same. his Boring company also receive meme coins for some rides. His newly acquired social media platform, Twitter, recently filed paperwork to operate a payment business. Dogecoin supporters believe that Musk plans to integrate DOGE payments into Twitter.
Musk on Future of Crypto
Kasturi was asked about the future of cryptocurrencies during the Spasi Twitter event on Saturday given the implosion of FTX.
“I will reiterate that, if you have crypto, you must have it in a cold wallet that can be accessed directly. Not on an exchange. That would be wise,” he said, explaining:
I think there may be a future for bitcoin, ethereum, and doge. I can’t tell anyone. But if you have one of those three in a cold wallet, and off the exchange, I think it works fine.
Do you agree with Elon Musk about bitcoin and dogecoin? Let us know in the comments section below.
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