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Tesla CEO and Twitter chief Elon Musk has made bullish statements about bitcoin and dogecoin despite crypto market sell-offs. He said bitcoin \u201cwill make it\u201d and \u201cDOGE to the moon.\u201d Amid crypto winter and the chaos surrounding bankrupt crypto exchange FTX, Musk believes there is a future for bitcoin, ethereum, and dogecoin.<\/strong><\/p>\n Tesla, Spacex, and Twitter chief Elon Musk commented on the future of bitcoin Monday. Responding to a Twitter user asking about where the price of the cryptocurrency will be in another year given that the crypto is currently trading at about $16K, down from about $69K a year ago, Musk wrote: \u201cBTC<\/a> will make it, but might be a long winter.\u201d<\/p>\n Musk\u2019s comment may have boosted the price of bitcoin. Immediately after he tweeted, the price of BTC<\/a> soared sharply from below $16K. At the time of writing, bitcoin is trading at $16,987.<\/p>\n The billionaire, who recently acquired<\/a> social media giant Twitter, previously revealed that he personally owns<\/a> bitcoin, as do Tesla and Spacex<\/a>. Tesla\u2019s latest financial filings with the U.S. Securities and Exchange Commission (SEC) showed that the company is holding about $218 million<\/a> in digital assets. In July, the electric car company sold 75%<\/a> of its BTC<\/a> holdings.<\/p>\n Musk has said on several occasions that bitcoin is suitable as a store of value<\/a>. Despite Tesla\u2019s BTC<\/a> sale, the billionaire CEO stressed: \u201cWe are certainly open to increasing our bitcoin holdings in [the] future, so this should not be taken as some verdict on bitcoin.\u201d<\/p>\n The Tesla CEO also recently made a bullish comment about the meme cryptocurrency dogecoin (DOGE), resulting in a price surge<\/a>. In a Twitter Space discussion Saturday, he exclaimed:<\/p>\n Doge to the moon.<\/p>\n<\/blockquote>\n Musk has long been a supporter of the meme crypto; he is sometimes known by the DOGE community as the Dogefather. The billionaire previously revealed that he owns some dogecoins and will keep buying and supporting<\/a> the meme cryptocurrency. He believes dogecoin \u201chas potential as a currency<\/a>.\u201d<\/p>\n Tesla currently accepts dogecoin for some merchandise. Musk also said that Spacex<\/a> will soon do the same. His Boring Company<\/a> also accepts the meme coin for some rides. His newly acquired social media platform, Twitter, recently filed paperwork to operate a payment business<\/a>. Dogecoin supporters believe that Musk plans to integrate DOGE payments into Twitter.<\/p>\n Musk was asked about the future of cryptocurrencies during the Twitter Space event Saturday given the FTX implosion.<\/p>\n \u201cI would reaffirm that, if you have crypto, you should have it in a directly-accessible cold wallet. Not in an exchange. That would be wise,\u201d he advised, elaborating:<\/p>\n I think there probably is a future for bitcoin, ethereum, and doge. I can\u2019t really speak to the others. But if you\u2019ve got one of those three in a cold wallet, and off an exchange, I think my guess is it works out well.<\/p>\n<\/blockquote>\nElon Musk Thinks Bitcoin \u2018Will Make It\u2019<\/h2>\n
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<\/p>\nMusk Says Dogecoin \u2018to the Moooon\u2019<\/h2>\n
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Musk on the Future of Crypto<\/h2>\n
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