Tesla CEO once again confuses crypto community with a Bitcoin tweet

By: Ali Raza
Ali Raza
Ali plays a key role in the cryptocurrency news team. He loves travelling during his spare time and enjoys playing cricket,… read more.
on Jan 11, 2020
Updated: Mar 11, 2020
  • Tesla and SpaceX CEO, Elon Musk, once again addressed Bitcoin in his recent Tweet.
  • While the message he is trying to send is not immediately clear from the tweet itself, the crypto community decided to play along, and appreciate the exposure.
  • Musk addressed cryptocurrencies several times in the past, although he did not reveal if he is involved with them, or if he has plans to ever start a crypto business.

Elon Musk is one of the best-known and most popular billionaires around the world these days. Apart from being known for his company Tesla, which produces electric cars, or his other firms, such as SpaceX and The Boring Company, Musk is also known for following online trends. Naturally, this made him rather popular with the younger generations of internet users.

However, when it comes to the cryptocurrency industry, Musk never clearly specified where he stands on the idea. He did admit to thinking that Bitcoin is ‘brilliant,’ but he never went further than that. He did not admit to owning cryptocurrencies, nor did he reveal plans to start a crypto business or even a coin of his own.

Are you looking for fast-news, hot-tips and market analysis? Sign-up for the Invezz newsletter, today.

But, from time to time, he does publish something related to crypto, and it is usually very confusing for the industry. One such example is yesterday’s tweet that simply reads: “Bitcoin is *not* my safe word.”

Fortunately, the crypto community has gotten used to Musk’s curious Twitter statements by now, so many have decided to play along in the comments. Others, however, pointed out the value of such exposure, as Musk has around 30 million Twitter followers.

Elon and the crypto space

As mentioned, this is not the first time that Musk has addressed the crypto community. Apart from praising Bitcoin by calling it brilliant, he also noted that ‘There is some merit to Ethereum,’ and he even addressed the meme coin, DOGE, once, calling it ‘pretty cool.’

He also agreed with Twitter CEO, Jack Dorsey, admitting that there will likely be one native crypto that will end up dominating the internet. However, he also stated that involving Tesla’s resources into crypto would not be a good idea.

As for Tesla itself, the company has seen quite a surge when it comes to the price of its shares, which went from $356 to $481 during the last 30 days. This made it the highest-valued carmaker of all time, as its market cap surged to $95 billion. The company also managed to sell 367,500 electric cars last year.

Invest in crypto, stocks, ETFs & more in minutes with our preferred broker, eToro
67% of retail CFD accounts lose money