Elon Musk emphatically states he will never launch a cryptocurrency through his companies, dispelling rumors and leaving room for Dogecoin integration on Twitter’s X platform.
Key Takeaways
- Elon Musk emphatically denies any intention to create cryptocurrencies.
- He previously debunked rumors of his social media platform launching an “X coin.”
- Musk’s statement raises hopes of Dogecoin integration on the X platform.
- Musk remains a fan of Dogecoin and its co-founder, Billy Markus.
Big No For Crypto
Tech mogul Elon Musk has reiterated his stance on never planning to create or launch any cryptocurrency through his companies, including Tesla, X, SpaceX, Neuralink, and The Boring Company. This announcement comes as Musk’s newly established xAI company prepares to release its first AI model today, on November 4.
.@elonmusk: none of my companies will ever create a #crypto token. #AI #ChatGPT #Dogecoin $DOGE https://t.co/3qS3WDeMFR
— U.Today (@Utoday_en) November 4, 2023
Musk made this “super clear” statement in response to a tweet from DogeDesigner, a UX/UI & Graphic Designer at Dogecoin, warning that Elon Musk and xAI are not affiliated with the meme coin Xai Corp (XAI). This clarification coincided with a remarkable 150% surge in the value of XAI, following the news of xAI’s impending launch after months of preparation.
X Coin ?
This isn’t the first time Musk has addressed crypto-related rumors. In early August, he publicly denied any plans for his social media platform X (formerly known as Twitter) to launch a native cryptocurrency token, squashing speculation about an “X coin.” On August 5, Musk tweeted, “We never will” launch an X coin, reinforcing his position.
Despite his refusals to launch cryptocurrencies, Musk’s affinity for Dogecoin remains evident. Even before acquiring 9.2% of Twitter shares last year, Musk had suggested the idea of integrating DOGE for payments on the platform through podcasts and tweets. Musk’s friendship with Dogecoin’s co-founder, Billy Markus (known as “Shibetoshi Nakamoto” on Twitter), fuels speculation that Dogecoin integration on the X platform may still be a possibility.
To Conclude
Elon Musk’s firm stance against launching cryptocurrencies via his companies may disappoint some crypto enthusiasts. However, his continued interest in Dogecoin and his hints at potential integration on the X platform keep the crypto community hopeful for future developments in the space.
Musk’s influence on the crypto market remains significant, and any decision he makes regarding cryptocurrency could have a substantial impact. As we await further updates, it’s clear that Musk’s fascination with digital assets, especially Dogecoin, will continue to be a topic of interest in the blockchain and crypto space.
