Elon Musk Positive About Future Of Crypto Market

Musk Positive About Future Of Crypto Even In Gloomy Condition
  • Musk believes that Bitcoin will survive, but it may be a long winter.
  • Twitter’s CEO predicted that DOGE would reach the Moon.

Twitter CEO Elon Musk has stated that Bitcoin will recover, but it will take time because of the prolonged winter. The Tesla owner is very interested in cryptocurrency and has a lot of influence over the DOGE. In addition, despite the winter around the crypto industry and the collapse of the FTX, Musk believes that Bitcoin, Ethereum, and Dogecoin have a future.

Musk’s Prediction On The Future of Cryptocurrency

Musk spoke on the future of Bitcoin in response to a Twitter user’s conversation about the price of bitcoin, which is currently trading at the $16k level after falling to $69k a year ago.

As a consequence of Musk’s comment, the price has risen to $16,980, having previously been at $17,000 and now trading at $16,767, an increase of 4.88% at the time of writing. As previously said, he owns some bitcoins, as do Tesla and SpaceX. And, according to Tesla’s most recent SEC filings, the firm has $218 million in digital assets and has sold 75% of its BTC holdings. 

As a DOGE enthusiast, Musk replied on Saturday on Twitter with a bullish statement that DOGE to the Moon.

Musk has long been a proponent of the meme cryptocurrency; the DOGE community refers to him as the Dogefather. The billionaire recently stated that he owns some dogecoins and intends to continue acquiring and backing the joke cryptocurrency. He feels dogecoin has monetary potential. And he wants to integrate DOGE payments into the Twitter platform since his support causes DOGE’s price to rise, and at the time of writing it is trading at $0.08627, up to 6.30%.

In addition, he said on Twitter that on Saturday

I believe Bitcoin, Ethereum, and Dogecoin have a future. I can’t address the others. But if you have one of those three in a cold wallet and off an exchange, I believe it will work out fine.

A passionate writer who  is keenly exploring crypto and Blockchain loves to know about new things and exploring what is happening in world.