Elon Musk Finally Enters the Crypto World

Elon Musk: “Cryptocurrency is My Safe Word”

The famous engineer and investor Elon Musk does not stop tweeting about crypto, expressing his enthusiasm over the potential of these technologies to provide a better future for the society.

One of the last tweets proves that his mindset remains optimistic, and in a joke to the famous CT Account @CryptoCobain the influencer commented that cryptocurrency is his “safe word.”

Elon Musk’s comments arise as a response to a joke that cryptocobain played on him due to the recent wave of lawsuits that Craig Wright initiated against several people who accused him of being a fraud for not being able to prove his claims to be Satoshi Nakamoto.

Another of the funny tweets in which Elon Musk shared with the enthusiasts around crypto was one published at the beginning of the month, in which he confessed himself as a Dogecoin fan.

This tweet, in turn, is a response to a joke by the official Dogecoin account in which he was “named” CEO of the popular cryptocurrency. Elon Musk took almost half of the total votes with an important advantage over Vitalik Buterin and Charlie Lee.

This tweet generated an escalation in Dogecoin’s prices, which reached historical yearly highs.

However, beyond jokes, Elon Musk has demonstrated a deep understanding not only of the crypto markets but also of the workings of blockchain technologies, and when he needed to be serious, he has also defended the potential of these technologies to bring a better future to humanity.

One such example was an interview with ARK’s podcast Invest on Feb 19, 2019, On that occasion, Tesla’s CEO explained that cryptos have many advantages over the traditional fiat system, being able to replace them in the future.

“It bypasses currency controls. … Paper money is going away. And crypto is a far better way to transfer values than a piece of paper, that’s for sure.”

In the same interview, Elon Musk explained that Bitcoin’s structure “is quite brilliant.”