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Elon Musk says he never told people to invest in crypto. Here is what he said.

With the entire cryptocurrency market currently tank and major crypto firms going insolvent, you’d think Elon Musk might reflect on some of his recent statements with a bit of contrition. After all, Musk is a big fan of cryptocurrency, isn’t he?

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

Musk continued. “In the case of Tesla, SpaceX, myself, we all bought bitcoin, but it’s a small percentage of our total cash,” he said.

That seems to be true, technically. Musk doesn’t seem to have ever uttered the words “people should invest in crypto” or any sort of similar simple investment recommendation regarding cryptocurrency.

So where would people get the idea to invest in cryptocurrency because of Elon Musk then?

Musk has certainly had a lot to say about cryptocurrencies over the years. And some of them have been quite promotional, so much so that it would be easy to see how anyone could think Musk offered investment advice. Or at least strongly alluding to it.

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

Let’s start with 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 in”, this seems rather promotional to me.

Musk then reversed course and suspended vehicle purchases via bitcoin due to negative environmental costs that were apparently not explained to him until later.

But Musk also felt the need to reiterate how much he still believed in crypto after his decision to suspend Tesla purchases with Bitcoin.

And, of course, Tesla isn’t Elon Musk’s only company promoting cryptocurrency.

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

Speaking of Dogecoin, it’s obvious that the token is Musk’s favorite cryptocurrency because he’s got it hooked more than any other crypto.

Here is Musk simply saying “Dogecoin rulez”.

Here’s Musk using Dogecoin as “the people’s cryptocurrency.” In a follow-up, he also Explain to “people” that you “don’t have to be a gigachad to own” Dogecoin.

Here’s Musk soliciting developers to help grow Dogecoin.

It’s Elon Musk who says he would “eat a good meal on TV if McDonald’s accepted Dogecoin”. Again, people should acquire Dogecoin to use it!

And here is his latest take on Dogecoin, tweeted during the big crypto crash that took the crypto from its all-time high of 70 cents – which happened when Elon Musk appeared on Saturday Night Live and plugged Dogecoin into TV in network – up to about five hundred.

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

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

And then there are the weird and not-so-subtle mentions of Elon Musk on memecoins like Babydoge and shiba inusboth pumped following Musk’s shoutouts on Twitter.

musk too appears at see crypto as a direct competitor to fiat currency and not just an investment vehicle.

To be fair, Musk admitted there are better things to invest in…even though he again felt the need to protect himself and share that he is still bullish about cryptocurrencies like Bitcoin and Dogecoin

But yeah, after going through Musk’s Twitter history, he seems to be right. 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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