📣 Tesla and SpaceX CEO Elon Musk confirmed on his social network X on Friday that his companies will never create cryptocurrencies.
His clarification followed a post by X user Dogedesigner, warning his followers about a cryptocurrency called XAI, which could be mistakenly associated with Musk's artificial intelligence company. Dogedesigner wrote: "Elon Musk and xAI are not associated with any such cryptocurrency. Please be cautious." In response, Musk clarified that none of his companies will ever create cryptocurrencies.
🔗 Tesla and SpaceX CEO Elon Musk confirmed on his social network X on Friday that his companies will never create cryptocurrencies. His clarification followed a post by X user Dogedesigner, warning his followers about a cryptocurrency called XAI, which could be mistakenly associated with Musk's artificial intelligence company. Dogedesigner wrote: "Elon Musk and xAI are not associated with any such cryptocurrency. Please be cautious." In response, Musk clarified that none of his companies will ever create cryptocurrencies.
📈 Earlier, Musk had disclosed that he personally owned Bitcoin (BTC), Ethereum (ETH), and Dogecoin (DOGE). As of the third quarter, his electric vehicle manufacturing company, Tesla, held $184 million in Bitcoin on its balance sheet. The company also held a small amount of Dogecoin (DOGE). The billionaire was a supporter of the meme cryptocurrency, considering it a people's cryptocurrency. In 2021, Musk stated that SpaceX also owned BTC.
🚀 💰Last month, the billionaire unveiled his plan to turn X into a powerful financial platform by the end of next year. "When I talk about payments, I really mean someone's entire financial life... if it's about money. It'll be on our platform. Money, securities, or something else," he explained in detail, adding that "you won't need a bank account."