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No one would ever deny that Elon Musk may lose his faith in cryptocurrencies, thus his followers do the same as he ever predicted or suggested. In between the current crypto market downtown, Elon Musk made his optimistic statements over these two cryptocurrencies, Bitcoin and Dogecoin.
Musk’s Bitcoin and Dogecoin Support
The Chief of Tesla, SpaceX, and Twitter made his reply to a Twitter user who is asking about the price of the cryptocurrency will be in another year as the crypto is currently trading at about $16K, down from about $69K a year ago.
In his tweet, he said “bitcoin will make it, but might be a long winter,” and “DOGE to the moon.” Even in the harsh crypto market condition, he believes there is a future for bitcoin, ethereum, and dogecoin.
Moreover, there seems to be a signal that Mr. Musk may announce that Twitter will offer peer-to-peer payments and he could integrate Bitcoin and lightning.
An old interview of Mr. Musk from July 2021, also grabbing the attention as he said “If an exchange breaks, is hacked, or something else, your crypto is gone. You have to own your private keys. You’re the only one that should have your keys. It’s about empowering the people.”
In addition, Forever HODL, also tweeted recently that “I actually agree with Elon Musk. This could be just the start of a long crypto winter but #BTC will always be here.”
On the other hand, the bullish approach of Twitter CEO about the meme cryptocurrency dogecoin (DOGE) resulted in its price surge as after his tweet the coin noted the surge. He also added that he is “working hard on the Doge part.”
It must be noted that he previously revealed that he owns some dogecoins and will continue buying and supporting the meme token as he believes dogecoin “has potential as a currency.”
However, Tesla is accepting dogecoin for some merchandise. And Mr. Musk already said that Spacex will soon do the same. His Boring Company also accepts the doge coin for some rides.
On the other hand, the newly acquired Social Media Platform, Twitter, also filed paperwork to operate a payment business. Hence, many of the Dogecoin supporters think that Mr. Musk is planning to integrate DOGE payments into Twitter.
During the Twitter Space event on November 12, 20222, he kept his thoughts on the future of cryptocurrencies and said that “I would reaffirm that, if you have crypto, you should have it in a directly-accessible cold wallet. Not in an exchange. That would be wise.”
Steve Anderson is an Australian crypto enthusiast. He is a specialist in management and trading for over 5 years. Steve has worked as a crypto trader, he loves learning about decentralisation, understanding the true potential of the blockchain.
