Is Elon Musk Having Disagreements With Cryptocurrencies?

The cryptocurrency market may have made a significant recovery recently, but signs are emerging that billionaire tech entrepreneur Elon Musk's interest in digital assets is waning. The Tesla founder seems to have moved away from the cryptocurrency space recently.

Elon Musk stated to Ark Invest CEO Cathie Wood at a recent event that he did not focus much on his thoughts about digital currencies. This statement came after Wood asked Elon Musk about the potential impact of Bitcoin on the financial system and sparked various reactions in the crypto community.

Elon Musk Was an Advocate of Cryptocurrencies

#ElonMusk has been a strong advocate of digital currencies in the past. However, this year he seems to prefer to remain silent. In early November, he announced that his companies would not issue cryptocurrency tokens. This announcement comes after Musk launched various meme tokens after promoting his artificial intelligence initiative called #XAI.

In 2021, Elon Musk announced that he owned Bitcoin, Ethereum and Dogecoin and ended his relationship with meme tokens such as Shiba Inu. However, while Elon Musk refrained from giving details about the tokens, the crypto community is still speculating that he could be an investor with a large crypto asset.

Tesla's Bitcoin assets are clearly visible. According to the company's latest quarterly report, Tesla holds 9,720 BTC worth more than $424 million at current market prices and has not put up or increased these assets. According to Bitcointreasury.net, Tesla's Bitcoin holdings rank third among publicly traded companies; MicroStrategy and Marathon Digital Holdings maintain the top two positions with 174,530 and 13,396 Bitcoins, respectively.
$BTC