Elon Musk says he never told people to invest in cryptocurrencies. Here’s what he said.

With the entire cryptocurrency market today tanking and large cryptocurrency companies become 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 cryptocurrency, right?

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

Musk continued. “In the case of Tesla, SpaceX, we all buy some Bitcoin, but it’s a small percentage of our total cash assets,” he said.

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

So where would people get the idea of ​​investing in cryptocurrency because of Elon Musk?

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

Most people interested in Musk consume his words on Twitter, where he is one of the top users of the platform, reaching 100 million followers. Here is a compilation of just some of the things Musk said about cryptocurrencies on Twitter:

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

Later, Musk reversed course and suspended vehicle purchases via Bitcoin due to the negative environmental costs that were only apparently explained to him later.

But Musk also felt the need to reiterate how much he still believed in cryptocurrencies after his decision to suspend Tesla’s purchases of Bitcoin.

And, of course, Tesla isn’t the only Elon Musk company promoting cryptocurrencies.

Musk previously announced that SpaceX would launch a satellite literally named after the meme-inspired cryptocurrency, Dogecoin. The “mission” would also be paid for in Dogecoin, as well as making history by making Dogecoin the “first cryptocurrency in space”.

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

Here is Musk simply stating “Dogecoin rulez”.

Here’s Musk putting Dogecoin as the “people’s cryptocurrency”. In a follow-up, he also explained for the “people” who “no need to be a gigachad to own” Dogecoin.

Here’s Musk asking developers to help build Dogecoin.

This is Elon Musk saying he “would eat a happy meal on TV if McDonald’s accepted Dogecoin”. Again, people would need to acquire Dogecoin to use it!

And here is his latest Dogecoin plug, tweeted during the great cryptocurrency crash that brought the cryptocurrency from its all-time high of 70 cents – which occurred when Elon Musk appeared on Saturday Night Live and connected Dogecoin to network television – to about five cents.

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

When asked to continue shopping by another Twitter user, he he responded: “I am.”

And then there are Elon Musk’s bizarre and not-so-subtle mentions of memecoins like babydoge and Shiba Inuboth that bombed as a result of Musk’s Twitter screams.

musk too looks for Vision cryptocurrency as a direct competitor to fiat currency and not only an investment vehicle.

To be fair, Musk admitted that there are better things to invest in… optimistic in cryptocurrencies like Bitcoin and Dogecoin

But yes, after reviewing Musk’s Twitter history, he appears to be correct. He never directly told people to invest in cryptocurrency.

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

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