[Musk said that Bitcoin has “some advantages” and he has a “soft spot” for Dogecoin]
Tesla CEO Musk has had mixed feelings about cryptocurrencies. This week, he seemed positive on Bitcoin and reiterated his enthusiasm for Dogecoin.
At an
Musk mentioned his feelings about his image being used to promote crypto scams, saying: "I don't promote cryptocurrencies—mostly in a joking manner. If you see me hyping cryptocurrencies, that's not me." "
Scams using the Tesla CEO's image have swindled unsuspecting victims out of hundreds of thousands of dollars in cryptocurrency, ranging from hacking his Twitter account to using him in fake ads and deepfake videos face.
The proliferation of spam and scam bots was one of the big reasons why Musk decided to acquire Twitter, which he subsequently renamed X. In April this year, he announced a "system cleanup" of bots and trolls on the platform, threatening to use "the full force of the law" against them.
During the X Takeover event, Musk warned Twitter users to be wary of scams, adding that when encountering any cryptocurrency-related promotion: "I would double check to see if it is real."
Musk has had a volatile attitude toward cryptocurrencies. In 2021, he announced that Tesla would briefly accept Bitcoin as payment for car purchases. The company still uses Bitcoin as part of its corporate funding. Musk has also been an enthusiastic supporter of Dogecoin, having suggested that "at some point" the electric car maker should accept Dogecoin as a form of payment.
