Elon musk is for crypto or just for attention to boost Tesla, SpaceX?

[rdbase]

Surprised that Elon hasn't developed a predictions market themed utility within the X platform yet or even capitalized having his AI predict the outcome on markets using grok 4.

It does seem to be what all the big companies are into now. The latest craze for what people start using AI for.

[ruykeri]

He is not at all interested in doing any good to crypto. He cares about increasing his net worth and he can even harm crypto community if that makes him achieve that target.

That's what businesspeople do; they do whatever they can just to bring that money flowing into their pockets, get those business deals going on and attract as many investors as they can irrespective of the sector, so yes, I also agree that he can do anything to make money, which is why there was a time when he used his influence to toy with the market as he wanted and make profit off it. Now Trump is the one who has taken his place.

Both Elon Musk and Donald Trump play a big role in the global economy. Since Bitcoin is a big part of the global economy, they will always want to have an impact on it. That is why when they see that there are many changes in the crypto market due to their various decisions, they will want to control the cryptocurrency market. But I personally think that this will not last long. Those who are in the Bitcoin community now are quite aware and not everyone panics and sells Bitcoin when they see the market fluctuate in a short time. That is why I doubt how much dominance they will have in the future.

[rdbase]

He is not at all interested in doing any good to crypto. He cares about increasing his net worth and he can even harm crypto community if that makes him achieve that target.

That's what businesspeople do; they do whatever they can just to bring that money flowing into their pockets, get those business deals going on and attract as many investors as they can irrespective of the sector, so yes, I also agree that he can do anything to make money, which is why there was a time when he used his influence to toy with the market as he wanted and make profit off it. Now Trump is the one who has taken his place.

Both Elon Musk and Donald Trump play a big role in the global economy. Since Bitcoin is a big part of the global economy, they will always want to have an impact on it. That is why when they see that there are many changes in the crypto market due to their various decisions, they will want to control the cryptocurrency market. But I personally think that this will not last long. Those who are in the Bitcoin community now are quite aware and not everyone panics and sells Bitcoin when they see the market fluctuate in a short time. That is why I doubt how much dominance they will have in the future.

Trump had lost $1 billion in the past three months having their investments in cryptocurrency as I reported the headline in another thread.
https://asktom.cf/index.php?topic=5503212.msg66090366#msg66090366

So would need to agree with you there when it comes to playing a role in the global economy.

When it comes to news of Elon Musk, the D.O.G.E which he founded when aside him in the Trump administration has been officially closed reported yesterday:


https://x.com/KobeissiLetter/status/1992745475385213051

[rohang]

Elon said in an interview that he bought Twitter, now X, because he found it "important to the future of civilization" to fix the "thumb on the scale" brought by Democrat-controlled Big Tech.

https://x.com/itscarterhughes/status/1996410336178819308



Some changes on X have been good, but i do miss the old twitter 

[rdbase]

Rohang, he did buy Twitter at the time for $44 billion but he knew it was going to pay off for itself within a couple of years with all the people using the platform (who are not bots) not to mention all the influential presence would be priceless when it comes to politics, inwhich he had bad experiences with in the past.
Including the state of California blocking him from building a Tesla factory there.

The first comment of this post on X explains it all correctly of what Elon did actually pay for when he purchased the platform:

https://x.com/not_claudio/status/1995918139373306083

[rohang]

Saw this post about a quote from elon-



Apparently he doesnt 'dump' and only buys or holds...

Idk if i believe that though    

[red4slash]

Some changes on X have been good, but i do miss the old twitter 

Well this is a word that is really appropriate because for now X is really not too free in expression (for me) especially after a lot of new policies made although it cannot be denied there are many newer features and updates but indeed the previous version of twitter is more fun for me

Back to the problem of those influencers and politicians who sometimes just show life as if they can control anything including the current price conditions, it is indeed a little possible but only short-term they can do with some small explosions but in the long run the effect they create will not be too influential.

[rdbase]

There has been a debate brought up a little over a month ago by Peter Schiff on who should moderate a public debate between himself and Changpeng Zhao over the merits of Bitcoin versus tokenized gold.

https://www.benzinga.com/crypto/cryptocurrency/25/10/48399566/elon-musk-joe-rogan-or-tucker-carlson-peter-schiff-invites-suggestions-on-who-should-moderate-his-debate-with-changpeng-zhao

Elon Musk's name was suggested for this over the X platform.

[aysha9853]

I think Musk understands crypto but he also understands attention even better, every time he mentions Doge or Bitcoin the market reacts and the media goes crazy, that benefits his public image and sometimes his companies, i would not take his crypto comments as long term conviction but more as short term noise.

[Hispo]

I think Musk understands crypto but he also understands attention even better, every time he mentions Doge or Bitcoin the market reacts and the media goes crazy, that benefits his public image and sometimes his companies, i would not take his crypto comments as long term conviction but more as short term noise.

I agree with you. Elon knows there are millions of people paying attention to what he says or what he sends on his personal account on Twitter/X, and that attention has powerful implications, he can use that attention to achieve his personal objectives in the long term.
I believe he understand cryptocurrency, but he may not be completely into it, he would rather people to be fond of some centralized wallet or service being offered by him, instead of people being fully responsible for custody of their money.

He may also have personal holdings of Bitcoin or Dogecoin and use his influence to profit off the market in the long term.

[rdbase]

Musk is a businessman first and everything else second, if bitcoin or doge helps tesla sell cars or spacex get more funding he will talk about it, but the moment it becomes a liability he will drop it just like he did with the btc payments back in the day, dont get married to his opinions

But it seems that he does have a digital payments system already put in place on the platform.
According to his response to a post on X several weeks ago:

https://x.com/elonmusk/status/1998873377273155938

[MinoRaiola]

Watching the lately spot about Musk appearing on live tv this weekend for showing what all the hype is about and if he will actually have a mention of his favorite cryptocurrency doge, it seems the media are jumping all over this appearance.

If I understand it correctl, he want his company SpaceX on the stock market in 2026, and he will maybe doing a lot of advertising for his own. I Think with X for sure, and remember DOGE-1, he wanted to launch a rocket into space with SpaceX Falcon 9 rocket. This project will maybe be reactivated, or he will use it in another form to promote SpaceX. So before it goes public, there will be a lot of news in the media i think. DOGE-1 or SpaceX-1, or maybe a separate new coin that will then be created.

[Judith87403]

The appearance of Elon Musk in his mainstream is good in drawing attention to crypto, mostly meme stuff such as Dogecoin, reason being that he has talked really much about it in the past. Yet history reveals that though he mentions it won't assure pump in price and will not drive sell-offs or maybe jokes will concerning the space.
He will most likely remain playful and cautious instead of making any serious market advert. It would be just hype and personality more than fundamentals, if Doge receives a spotlight. For Miley to appear as doge could be wise and funny, yet real effect would entirely rely on what is said concerning the future of crypto and risk,  instead of stunts.

[rohang]

Elon has predicted double digit growth within the next 12-18 months



This even as BTC has went down to 88k , if hes right it should definitely go back up and even reach another ATH in 2026 

[nemesis_incarnate]

The appearance of Elon Musk in his mainstream is good in drawing attention to crypto, mostly meme stuff such as Dogecoin, reason being that he has talked really much about it in the past. Yet history reveals that though he mentions it won't assure pump in price and will not drive sell-offs or maybe jokes will concerning the space.
He will most likely remain playful and cautious instead of making any serious market advert. It would be just hype and personality more than fundamentals, if Doge receives a spotlight. For Miley to appear as doge could be wise and funny, yet real effect would entirely rely on what is said concerning the future of crypto and risk,  instead of stunts.

I don't see the previous stuff we already see with DOGE and Elon popping off again.

If anything, it would only make more hype and harm in the long run.. I don't think Elon wants to be associated with DOGE nowadays.

[marywill9020]

Sure, nostalgia for old Twitter is real, but maybe the real lesson here isn’t about missing the past it’s about how attention shapes markets. Elon isn’t just talking crypto for fun; he’s testing the crowd’s reactions. Instead of blaming the platform, maybe we should analyze why his tweets move people and prices. After all, understanding the mechanism beats lamenting the interface.

[Antona]

He is not at all interested in doing any good to crypto. He cares about increasing his net worth and he can even harm crypto community if that makes him achieve that target.

That's what businesspeople do; they do whatever they can just to bring that money flowing into their pockets, get those business deals going on and attract as many investors as they can irrespective of the sector, so yes, I also agree that he can do anything to make money, which is why there was a time when he used his influence to toy with the market as he wanted and make profit off it. Now Trump is the one who has taken his place.

Both Elon Musk and Donald Trump play a big role in the global economy. Since Bitcoin is a big part of the global economy, they will always want to have an impact on it. That is why when they see that there are many changes in the crypto market due to their various decisions, they will want to control the cryptocurrency market. But I personally think that this will not last long. Those who are in the Bitcoin community now are quite aware and not everyone panics and sells Bitcoin when they see the market fluctuate in a short time. That is why I doubt how much dominance they will have in the future.

True, they move markets with statements, but it's often a temporary spike or dip the real holders have seen this cycle before and don't flinch, as Bitcoin's user base grows the power of any single person's opinion naturally dilutes.

[catnine1]

Elon Musk is a cult figure for some of the smartest people on the planet. So what he's doing with the Dogecoin baffles me.
I mean, they say the Internet doesn't recognize any form of hierarchy, but I think Musk has delusions of god-like grandeur.

Elon Musk is an excellent manager. He was always among the first to promote ideas and technologies and achieved success, having thought out all the logistics of the process in advance. That is why  Musk's opinion is trust, even it was joking. His one tweet raised the price of Doge, . It's no secret that the mass media and social networks are capable of manipulating public opinion. Many people recklessly trust the opinion of the  reputable successful individuals  and of the majority.

lol, true. the mans a hype machine. one tweet and the market goes bonkers.

but gotta remember, his goals aint always our goals. hes a billionaire playing 4D chess with memes. trustin' any one person, even musk, with ur portfolio is risky af. do ur own research, stack sats, and dont get rekt by a joke tweet

[Rustam Meraj]

The appearance of Elon Musk in his mainstream is good in drawing attention to crypto, mostly meme stuff such as Dogecoin, reason being that he has talked really much about it in the past. Yet history reveals that though he mentions it won't assure pump in price and will not drive sell-offs or maybe jokes will concerning the space.
He will most likely remain playful and cautious instead of making any serious market advert. It would be just hype and personality more than fundamentals, if Doge receives a spotlight. For Miley to appear as doge could be wise and funny, yet real effect would entirely rely on what is said concerning the future of crypto and risk,  instead of stunts.

Yes although Elon Musk is very good at making people notice coins such as Dogecoin, he is no longer able to make price rise with his words due to people becoming more careful. Meme coins tend to depend on hype and personality unlike Bitcoin that grows due to its technology, so when famous talk stops price tends to fall due to lack of actual use of coin at the moment.
In long term, comments of Elon have not had such big impact on market because investors are now more interested in actual news on how coin will be used to make payments and not only to hear jokes. He will probably continue with same style of playfulness so as to not get in trouble with government legally, but as you mentioned, future of crypto is long term based on actual technology and safety and not on just tricks. Although these are exciting, they do not help with creation of strong financial system that lasts.