Elon Musk Talks Crypto, Dogecoin, Twitter and a Looming Recession
Tesla and SpaceX CEO Elon Musk shared his views on a wide range of topics at the Qatar Economic Forum on Tuesday.
Speaking with Bloomberg News’ John Micklethwait, Musk commented on cryptocurrencies, Dogecoin in particular, his pending Twitter purchase and a looming recession.
When asked whether he thinks people should still put their money in cryptocurrencies, the Tesla CEO claimed he never advised people to buy crypto. He said:
“I have never said that people should invest in crypto. In the case of Tesla, SpacexX, myself, we all did buy some Bitcoin, but it’s a small percentage of our total cash assets.”
Musk previously revealed that he also owns Ethereum (ETH) and Dogecoin (DOGE) while Tesla and SpaceX only own Bitcoin (BTC).
Reiterating Tesla and SpaceX’ support for meme cryptocurrency Dogecoin, the billionaire CEO explained the rationale behind his personal endorsement:
“I just know a lot of people who are not that wealthy who, you know, have encouraged me to buy and support dogecoin. I’m responding to those people.”
Musk, Tesla, and SpaceX were recently sued over their promotion of Dogecoin for allegedly being “engaged in a crypto pyramid scheme (Ponzi scheme) by way of dogecoin cryptocurrency.”
Discussing his $44 billion Twitter take-over bid, Musk explained that there are still a few “unresolved matters” before the deal can be finalized. These include clarification on the number of active spam bots, but also financial technicalities such as whether the debt portion of the round will come together as well as a shareholder voting which needs to be in favor.
On his future plans with Twitter, the Tesla CEO said he has no intentions of becoming the social media platform’s CEO and that he will focus on “driving the product,” adding that:
“One way or another, one needs to take the steps that entice most people to use Twitter.
Ideally, I’d like to get like 80% of North America and perhaps … half the world or something ultimately on Twitter in one form or another.”
Commenting on the U.S. economy and a looming recession, Musk said:
“A recession is inevitable at some point. As to whether there is a recession in the near term, that is more likely than not.”
The post Elon Musk Talks Crypto, Dogecoin, Twitter and a Looming Recession appeared first on iGaming.org.
Source: igaming
