As a seasoned analyst with extensive experience in the tech and cryptocurrency sectors, I must say that Elon Musk’s recent comments about XRP and cryptocurrencies in general have left me intrigued but not entirely convinced. While his support for Dogecoin is well-documented, it seems premature to read too much into his recent statements about XRP.
Recently, Elon Musk, known for his numerous tech ventures as the CEO of Tesla, SpaceX, and various other pioneering companies, brought up the digital currency XRP, which is associated with Ripple, during a question-and-answer session following his speech at a town hall in Pittsburgh.
A substantial number of XRP enthusiasts expressed intense excitement in their comments, leading some to speculate that Musk might secretly be an advocate for XRP.
“Not endorsement of XRP”
In a recent town hall meeting in Pittsburgh, Elon Musk, the head of X Corporation, was questioned about whether he thought the XRP Ledger might be adopted by financial institutions in the near future given the ongoing resistance from the SEC during their current leadership.
Instead of discussing XRP specifically, Elon Musk expressed his thoughts on cryptocurrencies generally, stating that he perceives them as “intriguing and likely useful in providing resistance against a single-source control.
Musk clarified emphatically that his statement did not constitute either an endorsement or non-endorsement of XRP. Yet, he reiterated passionately that the inherent essence of cryptocurrency supports and promotes personal liberty.
ELON MUSK JUST SAID #XRP OMFG
— Cobb (@AlexCobb_) October 20, 2024
Elon Musk, Dogecoin and crypto in general
Elon Musk is famously associated with Dogecoin, a cryptocurrency that originated as a joke based on Bitcoin in late 2013 by Billy Markus and Jackson Palmer. Musk’s interest in DOGE stems from his love for dogs and internet memes. In 2021, the FLOKI meme coin was created, inspired by Musk’s Shiba Inu dog named Floki.
Musk believes Dogecoin to be a currency of the people and reckons that it is much better suited for payments than Bitcoin. In July this year, when taking part in a podcast, Musk said that he was not be going to promote any cryptocurrency unless in a joking way. He warned the community that if they see a video of him endorsing any cryptocurrency that would be a deep-fake.
Elon re: Crypto
— Kim Runner (@kimrunner) October 20, 2024
In the same broadcast, he expressed his conviction that Bitcoin holds value, and possibly some other digital currencies as well.
His companies Tesla and SpaceX still hold Bitcoin bought in 2021 and they also accept Dogecoin for their merchandise.
Read More
- BTC PREDICTION. BTC cryptocurrency
- LUNC PREDICTION. LUNC cryptocurrency
- CTXC PREDICTION. CTXC cryptocurrency
- GLMR PREDICTION. GLMR cryptocurrency
- MNT PREDICTION. MNT cryptocurrency
- PlayStation and Capcom Checked Another Big Item Off Players’ Wish Lists
- SEI PREDICTION. SEI cryptocurrency
- ARB PREDICTION. ARB cryptocurrency
- XDC PREDICTION. XDC cryptocurrency
- EUR INR PREDICTION
2024-10-21 11:15