Austin, Texas, Saturday, August 5: Tesla CEO Elon Musk today denied plans to launch a cryptocurrency, dispelling rumors that his company X (formerly Twitter) had already done so.
In a Tweet on August 5, Musk, in response to another post, said, “And we never will.”
Following a cautionary message from a user known as Doge Designer on Twitter (Now X), a sense of alertness spread among the platform’s community.
The message urged users to exercise caution when encountering reports suggesting that X might have introduced a new form of digital assets.
Musk’s recent statement has garnered attention at a time when he holds substantial influence within the digital currency sphere. He has publicly shown interest in the meme-based cryptocurrency Dogecoin, and his association with this digital asset has played an influential role in maintaining its relevance within the cryptocurrency landscape.
It is also well known in the crypto sphere Musk has expressed reservations about cryptocurrency investments. He has clarified that he does not provide financial advice and said he refrains from endorsing or encouraging individuals to invest in digital currencies.
Given Twitter’s recent rebranding, which seems to be oriented towards facilitating financial transactions, there has been growing speculation regarding the potential utility of tokens like Dogecoin within this evolving ecosystem.
Musk’s recent statement dismissing the notion of X launching a cryptocurrency has re-ignited speculation that the company may explore opportunities with Dogecoin, which reports say, could potentially lead to an increase in its value.
