Elon Musk Discusses Crypto Investing, Dogecoin Support, ‘Unresolved’ Twitter Issues, and Near-Term Recession


Tesla and Spacex CEO Elon Musk has shared his views on a variety of topics, including crypto investing, why he supports the meme cryptocurrency dogecoin, & #x 201C; unsettled matters & #x 201D; in his Twitter takeover bid, and the possibility of a near-term U.S. economic crisis.
Elon Musk on Crypto Investing
Tesla CEO Elon Musk shared his ideas on a wide variety of topics in an interview with Bloomberg News & #x 2019; John Micklethwait at the Qatar Economic Forum Tuesday.
Crypto investing was among the subjects gone over. Musk was asked whether he thinks individuals should still buy cryptocurrency given the market downtown. The Tesla CEO clarified that he has actually never suggested that individuals buy cryptocurrency, mentioning:
I have actually never said that individuals ought to invest in crypto. In the case of Tesla, Spacex, myself, we all did purchase some bitcoin, but it & #x 2019; s a little portion of our total money assets.
The Spacex chief formerly exposed that he likewise owns ether (ETH) and dogecoin (DOGE) while Tesla and Spacex only own bitcoin (BTC).
Musk Responds to People Encouraging Him to Buy and Support Dogecoin
Musk continued to reveal why he supports the meme cryptocurrency dogecoin. First of all, he discussed that Tesla accepts dogecoin for some product and Spacex will do the exact same.
He then reiterated his objective to keep supporting DOGE, stating:
I just understand a great deal of people who are not that rich who, you understand, have encouraged me to purchase and support dogecoin. I & #x 2019; m responding to those individuals.
Recently, a lawsuit was submitted against Musk, Tesla, and Spacex over their promo of dogecoin. The lead complainant was a dogecoin investor who lost cash trading the meme coin. He alleges that Musk and his companies & #x 201C; are engaged in a crypto pyramid plan (aka Ponzi scheme) by way of dogecoin cryptocurrency. & #x 201D;
Twitter Deal Stalled: There Are & #x 2018; Unresolved Matters & #x 2019;
Musk also talked about some issues standing in the method of his $44 billion quote to purchase Twitter Inc. He admitted that there are still a few & #x 201C; unsettled matters & #x 201D; before the deal can be finished.
The Tesla CEO elaborated that besides waiting on a resolution to the issue of how lots of spam bots are on the mega social media platform:
There is the question of will the debt portion of the round come together and then will the shareholders vote in favor.
He emphasized that he would concentrate on & #x 201C; driving the product & #x 201D; at Twitter but does not necessarily prepare to become the CEO of the social media business. & #x 201C; One way or another, one requires to take the actions that attract the majority of people to utilize Twitter, & #x 201D; Musk stated, adding:
Ideally, I & #x 2019;d like to get like 80% of North America and perhaps & #x 2026; half the world or something ultimately on Twitter in one type or another.
Twitter declares that bots comprise less than 5% of total users. Musk argued that is & #x 201C; not the majority of people & #x 2019; s experience & #x 201D; on the service. Near-Term Recession & #x 2018; More Likely Than Not & #x 2019;
The Spacex CEO was asked whether he thinks the U.S. economy will slide into a recession. He responded:
An economic downturn is unavoidable eventually. As to whether there is an economic downturn in the near term, that is most likely than not.
Musk recently shared his view on a recession a few times. In early May, he said the U.S. economy is probably in a recession that could last 12 to 18 months. In the exact same month, he said if we are not already in an economic downturn then we are approaching one. However, he noted that it is & #x 201C; actually a good idea. & #x 201D;
What do you think of Elon Musk & #x 2019; s remarks? Let us know in the comments section listed below.

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