Elon Musk Reveals The Cryptocurrency He’s ‘Mainly’ Supporting After Tesla Dumped Bitcoin Amid Crypto Price Crash (2024)

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Elon Musk Reveals The Cryptocurrency He’s ‘Mainly’ Supporting After Tesla Dumped Bitcoin Amid Crypto Price Crash (2024)

FAQs

Elon Musk Reveals The Cryptocurrency He’s ‘Mainly’ Supporting After Tesla Dumped Bitcoin Amid Crypto Price Crash? ›

"I'm mainly supporting doge, frankly, because I think doge has the memes and dogs and it seems to have a sense of humor and doesn't take himself too seriously," Musk, who last year revealed he personally owns dogecoin, bitcoin and ethereum, said during a recent interview on the Full Send Podcast.

Which crypto does Elon Musk support? ›

Whether you're interested in crypto or not, you've probably heard of Dogecoin. This meme-based cryptocurrency — Elon Musk's favorite — is making headlines again.

What three crypto coins does Elon Musk own? ›

What Cryptocurrency Does Elon Musk Own?
  • Bitcoin.
  • Ethereum.
  • Dogecoin.
Feb 16, 2024

Did Elon Musk cause Bitcoin to drop? ›

No, Elon Musk's SpaceX Isn't the Cause of This Multi-Billion-Dollar Bitcoin Bloodbath.

Did Elon Musk manipulate the crypto market? ›

Insider Trading Lawsuit

Like most cryptocurrencies, Dogecoin had a devastating crash during the 2022 crypto winter. Investors proposing a class action lawsuit accused Musk of engaging in insider trading and manipulating the cryptocurrency Dogecoin, resulting in substantial financial losses amounting to billions.

Is the Elon Musk cryptocurrency real? ›

Turns out, X Token is too good to be true. In August, Musk let it be known twice that he has no plans of developing a cryptocurrency. “To be super clear, none of my companies will ever create a crypto token,” he said yet again in November.

What is Elon Musk's coin called? ›

Elon Musk and Dogecoin

Elon Musk frequently uses his X platform to express his views on Dogecoin, which has led some to claim that his actions amount to market manipulation because the price of Dogecoin frequently experiences price movements shortly after his tweets.

What crypto does Mark Cuban invest in? ›

While he personally believes in crypto and owns some himself, he also calls it a “Hail Mary.” In a January ask-and-answer session on X, Cuban said that his crypto portfolio includes Bitcoin, Ethereum, Polygon and Injective, and that his NBA team the Dallas Mavericks still accepts Dogecoin as payment.

What is the name of Tesla's cryptocurrency? ›

All eligible Tesla products will be clearly priced in Dogecoin. This price will include any applicable taxes. Note: The timer on the payments page will display the amount of time you have to complete your payment.

Is Tesla coin legit? ›

The name TeslaCoin is being used by more than one cryptocurrency token project, as well as a trading platform and an investment scam, to take advantage of Tesla's chief executive officer (CEO) Elon Musk's support for crypto.

What is causing crypto to crash? ›

A bad week for crypto

Hotter-than-expected inflation reported earlier this week caused an increase in interest rates and a drop in tech and growth stocks, which have all traditionally correlated with falling crypto values.

What is causing Bitcoin to drop? ›

The price of Bitcoin fell as market participants shrugged off the spot Bitcoin and Ether ETFs in Hong Kong. BTC dropped by about 5% from its daily high of $64,734. The selling momentum further pushed down the BTC price from yesterday's levels due to high leverage and expectations of a relief rally.

How much has Elon Musk lost on Bitcoin? ›

Tesla made a $140m (£113.5m) loss on its Bitcoin investments in 2022, according to filings. The electric car maker told the US regulator it lost $204m on Bitcoin overall, though it gained back $64m through trading.

What is Elon Musk's net worth today? ›

How does Elon Musk affect Dogecoin? ›

While this post did not have much impact on DOGE at the time, Musk continued posting about the token. He posted a meme about DOGE adoption in July 2020 that was captioned "It's inevitable." After multiple years of posting, the token took off in 2021, reaching an all-time high of nearly $0.74.

Does ELON believe in Dogecoin? ›

CEO Elon Musk has long been a proponent of Dogecoin (DOGE), first posting about the project in 2019, saying, "Dogecoin might be my fav cryptocurrency. It's pretty cool." At the time, the project was still relatively unknown, so it took a handful of other posts and a larger crypto bull market for DOGE to truly take off.

What crypto does Tesla use? ›

Tesla only accepts Dogecoin. Tesla cannot receive or detect any other digital assets.

Which crypto does Mark Cuban own? ›

In a January ask-and-answer session on X, Cuban said that his crypto portfolio includes Bitcoin, Ethereum, Polygon and Injective, and that his NBA team the Dallas Mavericks still accepts Dogecoin as payment.

What is Elon Musk's new AI company? ›

When Elon Musk created his artificial-intelligence startup xAI last year, he said its researchers would work on existential problems like understanding the nature of the universe. Musk is also using xAI to pursue a more worldly goal: joining forces with his social-media company X.

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