December 5, 2022

Elon Musk Being Bullish About BTC And Doge

Crypto Winter Could Be Longer Than Expected

A Twitter user was seen drawing the attention of Twitter’s Chief, Elon Musk when the users posed him a question regarding Bitcoin’s future price projections.

The user asked what Elon Musk foresees about Bitcoin, particularly in the next year, and whether Bitcoin would regain what it had lost.

The user furthermore reminded Musk that Bitcoin’s current value is just $16K which is $53 less than what it was twelve months ago.

While responding to the user’s tweet, Musk stated that one would need to have faith as Bitcoin will definitely regain what was lost.

However, he suggested that though the crypto winter season is not for an indefinite period yet it will last a little longer than expected.

A Few Words from Musk’s Mouth Do the Trick

For the Bitcoin market, a comment coming from Musk was enough for providing a gentle push to the coin’s value. Immediately, therefore, Bitcoin obtained a couple of hundred dollar value gain and started to trade @ $16,987.

Musk has recently concluded the groundbreaking deal of a lifetime when he acquired complete control over Twitter. Apart from owning SpaceX and Tesla Inc., he now owns the world’s hugest social media platform, Twitter.

A few months ago, Musk revealed that he personally owns several cryptocurrencies and one of them being Bitcoin. He also revealed that even his companies too individually hold the crypto assets.

As was confirmed by US Securities & Exchange Commission, Tesla alone is the owner of multiple cryptocurrencies whose value is equivalent to $218 Million.

Musk – A Genuine Crypto Ambassador

Musk is amongst those few who are regarded as crypto ambassadors who are personally quite fond of Bitcoin. In several instances, Musk has claimed that there is no suitable store of value that is as good as Bitcoin.

Although Tesla had already disposed of 75% of its Bitcoin holding, however, Musk had stated recently that Tesla will bring in more Bitcoins.

He further clarified that neither he nor Tesla or Spacex have ever disregarded Bitcoin.

Doge To The Moon

As regards, Dogecoin, Musk was also being very bullish about the coin. In his tweet message, which he posted on Saturday, Musk commented ‘Doge to the moon’.

Once again, the crypto market saw Dogecoin making an exception when the coin’s value surged significantly because of Musk’s shout-out to Dogecoin.

It is true though that Musk loves Bitcoin, however, Dogecoin also has a very special place in his life. He is not just a promoter or well-wisher of Dogecoin but in fact, his crypto holding includes Dogecoin as well.

Musk is often called as ‘Dogefather’, particularly in the DOGE community. In the past, he made a claim that if cryptocurrencies have the potential of becoming a ‘currency’ then Dogecoin would be the first in doing so.