Elon Musk, the tech entrepreneur and CEO of Tesla, SpaceX, and several other innovative companies, recently mentioned the Ripple-affiliated cryptocurrency XRP while answering questions from the audience at a town hall in Pittsburgh, Pennsylvania. Many XRP fans responded enthusiastically in the comments section. Some even suspected Musk of being a secret XRP supporter.
"XRP Not Confirmed"
During a recent speech at a town hall in Pittsburgh, X owner Elon Musk was asked whether he believes the XRP Ledger will soon be adopted by financial institutions in the future, considering the level of opposition from the SEC under the current administration.
Instead of saying anything specific about XRP, Musk shared his views on cryptocurrencies in general. The tech mogul stated that he believes cryptocurrencies are an âinteresting and potentially valuable bulwark against centralized control.â
Musk hastened to add that this is âcertainly not an endorsement or disapproval of XRP.â However, he stressed that he believes âthe nature of cryptocurrency is to support individual liberty.â
Elon Musk, Dogecoin and Cryptocurrencies in General
Elon Musk is famous for his support of the original meme cryptocurrency, Dogecoin, which was created by Billy Markus and Jackson Palmer based on the Bitcoin code and launched as a parody of BTC in December 2013. Musk has admitted on several occasions that he was drawn to DOGE because of dogs and memes. He owns a Shiba Inu named Floki, who was the inspiration for the creation of the meme coin FLOKI in 2021.
Musk believes that Dogecoin is a people's currency and thinks it is much better suited for payment purposes than Bitcoin. In July of this year, Musk said on a podcast that he would not promote any cryptocurrency unless it was a joke. He warned the community that if they saw any videos of him promoting a cryptocurrency, it would be a deepfake.
On the same podcast, Musk said he believes Bitcoin and perhaps some other cryptocurrencies have value. His companies Tesla and SpaceX still hold Bitcoin, which they bought in 2021, and they also accept Dogecoin for their merchandise.
