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The person behind Tesla and SpaceX wields tweets like market levers, oscillating between sarcasm, fascination, and warning. In October 2021, he urged to not “wager the farm” on cryptocurrencies. Nevertheless, he admitted to having bought, “out of curiosity”, Bitcoin, Ethereum, and Dogecoin. Such a paradox raises a central query: Is Musk appearing as a mere lucid observer or as a totally engaged actor in an ecosystem that he, regardless of himself, helps to form?
In short
- Elon Musk has lengthy warned towards extreme funding in cryptocurrencies, urging warning.
- In 2021, he said he didn’t maintain Shiba Inu however admitted to proudly owning Bitcoin, Ethereum, and Dogecoin, “out of curiosity.”
- Regardless of his warnings, Musk continues to publicly help sure cryptos, notably Dogecoin, via robust symbolic gestures.
- Musk’s stance raises questions : between expressed warning and strategic affect, his function within the crypto world stays ambiguous but influential.
Elon Musk : Displayed Caution and Warning Message
In October 2021, on the top of hypothesis round Shiba Inu (SHIB), Elon Musk, targeted by a chilling metaphor from the creator of Squid Game, was publicly questioned on the social community X (previously Twitter) a couple of potential funding on this crypto.
He flatly denies: “No”, he states when requested if he holds SHIB. This response intrigues the group, which then seeks to know the precise composition of his crypto portfolio. Musk instantly clarifies: “out of curiosity, I acquired ASCII hash chains referred to as bitcoin, Ethereum & Doge. That’s all”.
On this identical trade, Musk takes the chance to recall a precautionary precept he has hammered for a number of years : “as I’ve stated earlier than, don’t wager the farm on crypto! The true worth lies in creating merchandise and offering providers to your fellow people, not in cash in any kind”.
This message, out of step with the market euphoria at the moment, aimed to remind of the inherent dangers of overly enthusiastic investments in these belongings.
What to recollect from this 2021 assertion :
- He emphasizes that the true worth lies in providers offered to others, not in forex ;
- This assertion got here a couple of days earlier than SHIB’s historic peak, reinforcing the load of his warning.
Musk takes right here an academic stance. Whereas he admits his curiosity about some main cryptos, he clearly discourages any extreme speculative method. His message is primarily aimed toward particular person buyers tempted to observe developments with out actual understanding of the dangers.
An Oblique however Structuring Affect on the Crypto Ecosystem
If Musk is cautious in his remarks, it has not prevented him from taking part in an lively, even structuring, function within the ecosystem. Throughout an look on Joe Rogan’s podcast in early 2024, he hammered the purpose dwelling: “you aren’t going to win with memecoins. Don’t put your financial savings right into a memecoin”.
But, on the identical time, his public gestures present tangible engagement, notably in direction of Dogecoin. He has supported this crypto a number of instances, together with via coded references in tasks he supervised, such because the governmental initiative “DOGE”, an acronym that’s no coincidence.
Musk additionally hinted that his new political motion, the America Celebration, can be favorable to bitcoin. Furthermore, Tesla continues to carry over a billion {dollars} in bitcoin, in line with Arkham Intelligence data.
These info counsel a strategic duality: whereas calling on people to be cautious, Musk stays an actor exposed to cryptos through his companies and public commitments. He isn’t merely a “curious” bystander however a number one influencer in adoption and legitimization of sure cryptos.
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Diplômé de Sciences Po Toulouse et titulaire d’une certification advisor blockchain délivrée par Alyra, j’ai rejoint l’aventure Cointribune en 2019.
Convaincu du potentiel de la blockchain pour transformer de nombreux secteurs de l’économie, j’ai pris l’engagement de sensibiliser et d’informer le grand public sur cet écosystème en constante évolution. Mon objectif est de permettre à chacun de mieux comprendre la blockchain et de saisir les opportunités qu’elle offre. Je m’efforce chaque jour de fournir une analyse goal de l’actualité, de décrypter les tendances du marché, de relayer les dernières improvements technologiques et de mettre en perspective les enjeux économiques et sociétaux de cette révolution en marche.
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