Making something sound fun and cool is technically different from telling people to do it.
Where would people get this outlandish idea to invest in cryptocurrency because of Elon Musk?Credit: Paul Yeung/Bloomberg via Getty Images
>Tech
With the entire cryptocurrency market currently tanking and major crypto firms becoming insolvent, one would think Elon Musk might reflect on some of his recent statements with a little contrition.After all, Musk is a big proponent of cryptocurrency, right?
"I have never said that people should invest in crypto," Elon Musk told the crowd(Opens in a new tab) during his virtual appearance at the Qatar Economic Forum after he was asked about the present state of cryptocurrency.
Tweet may have been deleted(opens in a new tab)(Opens in a new tab)
Musk continued. "In the case of Tesla, SpaceX, myself, we all did buy some Bitcoin, but it’s a small percentage of our total cash assets," he said.
This appears to be true, technically. Musk does not seem to have ever uttered the words "people should invest in crypto" or any sort of similar straightforward investment recommendation regarding cryptocurrency.
So, where would people get the idea to invest in cryptocurrency because of Elon Musk then?
Musk has sure had a lot to say about cryptocurrencies over the years. And some of it has been quite promotional, so much so that it would be easy to see how someone would think Musk was offering investment advice. Or at least strongly hinting at such.
Most people with an interest in Musk consume his words on Twitter, where he is one of the platform's top users, closing in on 100 million followers. Here's a compilation of just some of the things Musk has said regarding cryptocurrencies on Twitter:
Tweet may have been deleted(opens in a new tab)(Opens in a new tab)
Let's start with the time Elon Musk announced that his company, Tesla, would start accepting Bitcoin for vehicle purchases. Given that you have to buy Bitcoin to, well, spend it, and given that another way of saying "buy" is "invest in," that seems rather promotional to me.
Musk later reversed course and suspended(Opens in a new tab) vehicle purchases via Bitcoin due to the negative environmental costs that were only later apparently explained to him.
Tweet may have been deleted(opens in a new tab)(Opens in a new tab)
But, Musk also felt the need to reiterate how much he still believed in crypto after his decision to suspend Tesla purchases with Bitcoin.
And, of course, Tesla isn't the only Elon Musk company that promotes cryptocurrency.
Tweet may have been deleted(opens in a new tab)(Opens in a new tab)
Musk previously announced that SpaceX was going to launch a satellite literally named after the meme-inspired cryptocurrency, Dogecoin. The "mission" was also going to be paid for in Dogecoin as well as make history by making Dogecoin the "first crypto in space."
Speaking of Dogecoin, it's obvious the token is Musk's favorite cryptocurrency as he's plugged it more than any other crypto.
Tweet may have been deleted(opens in a new tab)(Opens in a new tab)
Here's Musk simply stating "Dogecoin rulez."
Tweet may have been deleted(opens in a new tab)(Opens in a new tab)
Here's Musk plugging Dogecoin as the "people's cryptocurrency." In a follow-up he also explained(Opens in a new tab) to the "people" that there's "no need to be a gigachad to own" Dogecoin.
Tweet may have been deleted(opens in a new tab)(Opens in a new tab)
Here's Musk soliciting for developers to help build out Dogecoin.
Tweet may have been deleted(opens in a new tab)(Opens in a new tab)
This is Elon Musk saying he would "eat a happy meal on TV if McDonald's accepts Dogecoin." Again, people would need to acquire Dogecoin to use it!
And here's his most recent plug of Dogecoin, tweeted during the big crypto crash which brought the crypto from its all-time high of 70 cents – which occurred when Elon Musk appeared on Saturday Night Live and plugged Dogecoin on network television – down to around five cents.
Tweet may have been deleted(opens in a new tab)(Opens in a new tab)
"I will keep supporting Dogecoin," tweeted Musk.
When he was asked to keep buying by another Twitter user, he replied(Opens in a new tab): "I am."
Tweet may have been deleted(opens in a new tab)(Opens in a new tab)
And then there's Elon Musk's bizarre, not-so-subtle mentions of memecoins like Babydoge(Opens in a new tab) and Shiba Inu(Opens in a new tab), both which pumped as a result of Musk's Twitter shout outs.
Tweet may have been deleted(opens in a new tab)(Opens in a new tab)
Musk also appears(Opens in a new tab) to view(Opens in a new tab) crypto as a direct competitor to fiat currency and not just an investment vehicle.
Tweet may have been deleted(opens in a new tab)(Opens in a new tab)
To be fair, Musk has admitted that there are better things to invest in…even though he once again felt the need to hedge and share that he's still bullish(Opens in a new tab) on cryptocurrency like Bitcoin and Dogecoin
But yes, after looking through Musk's Twitter history, he does appear to be correct. He has never directly told people to invest in cryptocurrency.
So, remember, as Elon Musk would say: "Cryptocurrency is promising, but please invest with caution!"
Tweet may have been deleted(opens in a new tab)(Opens in a new tab)
More inCryptocurrency, Elon Musk
Recommended For You
Elon Musk's latest project: Defending the QAnon Shaman and his role on Jan. 6
"Free Jacob Chansley," said Musk.
By Matt Binder
Elon Musk apologizes to the Twitter designer he publicly mocked
It was just a 'misunderstanding,' according to Musk.
By Matt Binder
Twitter to charge users for SMS two-factor authentication
For $8, experience the joy of typing some numbers after you get a text.
The best PlayStation 5 controllers to pair with your new-gen console
Does it get any better than the DualSense Edge? The answer may shock you.
By Dylan Haas
Biden's Super Bowl tweet eclipsed Musk's. That reportedly sent Twitter into crisis mode.
And Musk deleted his tweet anyway after the Eagles lost.
By Matt Binder
Trending on Mashable
Wordle today: Here's the answer, hints for March 28
Here are some tips and tricks to help you find the answer to "Wordle" #647.
Half of Twitter Blue subscribers have less than 1,000 followers
And Elon Musk now says he wants to force these users all into your feed.
By Matt Binder
Apple's iOS 17 may include some crowd-pleasing features
Several 'most requested features' are coming to iOS 17, according to one report. What they are remains a mystery.
The biggest stories of the day delivered to your inbox.
By signing up to the Mashable newsletter you agree to receive electronic communicationsfrom Mashable that may sometimes include advertisem*nts or sponsored content.
Thanks for signing up. See you at your inbox!
Mashable supports Group Black and its mission to increase greater diversity in media voices and media ownership. Group Black's collective includes Essence, TheShadeRoom and Afro-Punk.
©2005–2023 Mashable, Inc., a Ziff Davis company. All Rights Reserved.
Mashable is a registered trademark of Ziff Davis and may not be used by third parties without express written permission.