Elon Musk Makes It Crystal Clear: No Cryptocurrency Tokens from His Companies

Elon Musk, the enigmatic tech billionaire at the helm of companies like Tesla, SpaceX, Neuralink, and The Boring Company, has unequivocally confirmed that none of his business ventures will ever venture into the world of cryptocurrency tokens. This statement, Musk says, marks the final word on the matter, dispelling any lingering doubts about the future of cryptocurrencies under his corporate umbrella.

Musk made this declaration in response to a tweet by a user named DogeDesigner, who works as a UX/UI & Graphic Designer at Dogecoin. The tweet served as a warning to the public, clarifying that neither Musk nor his newly launched venture, xAI, are in any way associated with the meme coin Xai Corp (XAI).

“To be super clear, none of my companies will ever create a crypto token,” Musk tweeted, putting an end to any ambiguity surrounding his stance on cryptocurrencies.

The timing of Musk’s statement coincides with the much-anticipated launch of xAI, a company dedicated to researching artificial intelligence. The company is set to release its first AI model today, November 4, causing a stir in the tech world.

This isn’t the first time Musk has had to deny rumors about his companies delving into the cryptocurrency world. The initial denial came earlier this year, when Musk categorically stated that his social media platform, X (formerly known as Twitter), would not launch a native crypto token. At that time, he also dismissed speculations about an “X coin,” asserting, “We never will.”

Despite these previous clarifications, rumors continued to swirl, prompting Musk to revisit the issue and reinforce his stance. His latest declaration is perhaps the most definitive, aimed at eliminating any further conjecture about his businesses venturing into the crypto market.

However, the crypto community might find a glimmer of hope in Musk’s previous interest in Dogecoin. Prior to acquiring a 9.2% stake in Twitter shares last year, Musk frequently expressed his enthusiasm for integrating Dogecoin as a payment method on the platform. Musk is known for his fondness for the original meme coin and shares a friendship with its co-founder, Billy Markus, playfully known as “Shibetoshi Nakamoto,” on X.

While Musk’s latest statement rules out the possibility of his companies creating their own cryptocurrencies, it leaves the door open for potential collaborations or integrations with existing cryptocurrencies, like Dogecoin. Whether Musk will follow through on this idea remains to be seen, but for now, one thing is certain: his companies will not be venturing into the world of cryptocurrency tokens anytime soon.

Read more:

Join us on Telegram

Follow us on Twitter

Follow us on Facebook

Follow us on Reddit

You might also like