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Elon Musk says he never told people to invest in crypto. Here&039s what he has said. | Mashable

with the entire cryptocurrency market currently tanking and major cryptocurrency companies going insolvent, one would think that elon musk might reflect on some of his recent statements with a bit of contrition. after all, musk is a big supporter of crypto, right?

“I have never said that people should invest in cryptocurrency,” Elon Musk told the crowd during his virtual appearance at the Qatar Economic Forum after being asked about the current state of cryptocurrency.

Reading: What did elon musk say about bitcoin

continued musk. “In the case of Tesla, SpaceX, myself, we all buy some bitcoin, but it’s a small percentage of our total cash assets,” she said.

This appears to be true, technically. Musk never seems to have uttered the words “people should invest in cryptocurrencies” or any kind of similar direct investment recommendation regarding cryptocurrencies.

so where would people get the idea to invest in cryptocurrencies thanks to elon musk?

musk has had a lot to say about cryptocurrencies over the years. And some of them have been quite promotional, so much so that it would be easy to see how anyone would think Musk is offering investment advice. Or at least strongly hinting at it.

Most of the people interested in Musk consume his words on Twitter, where he is one of the main users of the platform and is approaching 100 million followers. here is a compilation of some of the things musk has said about crypto on twitter:

Let’s start with the moment Elon Musk announced that his company, Tesla, would start accepting bitcoins for vehicle purchases. Since you have to buy bitcoin to, well, spend it, and since another way of saying “buy” is “invest in”, that seems pretty promotional to me.

musk then changed course and discontinued vehicle purchases via bitcoin due to negative environmental costs that were apparently only explained to him later.

See also: Bitcoin requires an immense amount of energy. Heres why thats sparking a crypto backlash | PBS NewsHour

but musk also felt the need to reiterate how much he believed in cryptocurrencies after his decision to discontinue purchases of tesla with bitcoin.

and of course tesla is not the only elon musk company promoting cryptocurrencies.

musk previously announced that spacex was going to launch a satellite literally named after the meme-inspired cryptocurrency dogecoin. the “mission” would also be paid for with dogecoin and would make history by making dogecoin the “first crypto in space”.

Speaking of Dogecoin, it’s obvious that the token is Musk’s favorite cryptocurrency, as he has used it more than any other cryptocurrency.

here is musk simply saying “dogecoin rulez”.

here is musk claiming that dogecoin is the “people’s cryptocurrency”. In a follow-up, he also explained to “people” that “you don’t have to be a gigachad to own” dogecoin.

here is musk asking developers to help build dogecoin.

this is elon musk saying he would “eat a happy meal on tv if mcdonald’s accepts dogecoin”. again, people would need to acquire dogecoin to use it!

See also: What is P2P trading, and how does it work in peer-to-peer crypto exchanges?

and here is his most recent dogecoin announcement, tweeted during the great cryptocurrency crash that took crypto from its all-time high of 70 cents, which occurred when elon musk appeared on saturday night live and clicked dogecoin on tv network. to around five cents.

“I will continue to support dogecoin,” Musk tweeted.

when another twitter user asked him to continue shopping, he replied, “I am.”

and then there are elon musk’s weird and not-so-subtle mentions of memecoins like babydoge and shiba inu, which skyrocketed as a result of musk’s shouting on twitter.

musk also appears to view crypto as a direct competitor to fiat currency and not just an investment vehicle.

To be fair, Musk has admitted that there are better things to invest in…although once again he felt the need to protect himself and share that he remains bullish on cryptocurrencies like bitcoin and dogecoin

but yes, after reviewing musk’s twitter history, he seems to be right. he has never directly told people to invest in cryptocurrencies.

So, remember, as Elon Musk would say: “Cryptocurrencies are promising, but please invest with caution!”

See also: Escape from Tarkov: Is the bitcoin farm worth it in 2022?

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