• Press Releases
    • Submit a press release
    • Read All
  • Contact us
Advertise
Bitcoinist.com
Buy Neo Pepe
No Result
View All Result
🚀 BUY NEO PEPE PROTOCOL 🚀
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
    • Price
      • Bitcoin Price
      • Ethereum Price
      • Binance Coin Price
      • Litecoin Price
  • Industry
    • Industry News
    • Press Releases
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • How to do Crypto Gambling
      • Crypto Casinos
        • Ethereum Casinos
        • Solana Casinos
        • LiteCoin Casinos
        • DogeCoin Casinos
        • Live Crypto Casinos
        • New Casinos
        • Instant Withdrawal Casinos
        • Cash App Casinos
        • No KYC Casinos
        • VPN Casinos
        • Offshore Casinos
          • Crypto Casinos IT
          • Crypto Casinos ES
            • All Guides
          • Crypto Casinos JP
          • Crypto Casinos SG
          • Crypto Casinos MY
          • Crypto Casinos KR
          • No GAMSTOP Casinos in UK
          • No Cruks Casinos NL
      • Crypto Betting
        • No ID sportsbooks
    • Play Crypto Games
      • Crypto Poker
      • Crypto Slots
      • Crypto Blackjack
      • Crypto Crash Gambling
        • Aviator Sites
      • Plinko
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
  • Events
  • Play Games
Breaking News: Commerce Department To Release Blockchain Statistics, Says Lutnick
🚀 BUY NEO PEPE PROTOCOL 🚀
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
    • Price
      • Bitcoin Price
      • Ethereum Price
      • Binance Coin Price
      • Litecoin Price
  • Industry
    • Industry News
    • Press Releases
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • How to do Crypto Gambling
      • Crypto Casinos
        • Ethereum Casinos
        • Solana Casinos
        • LiteCoin Casinos
        • DogeCoin Casinos
        • Live Crypto Casinos
        • New Casinos
        • Instant Withdrawal Casinos
        • Cash App Casinos
        • No KYC Casinos
        • VPN Casinos
        • Offshore Casinos
          • Crypto Casinos IT
          • Crypto Casinos ES
            • All Guides
          • Crypto Casinos JP
          • Crypto Casinos SG
          • Crypto Casinos MY
          • Crypto Casinos KR
          • No GAMSTOP Casinos in UK
          • No Cruks Casinos NL
      • Crypto Betting
        • No ID sportsbooks
    • Play Crypto Games
      • Crypto Poker
      • Crypto Slots
      • Crypto Blackjack
      • Crypto Crash Gambling
        • Aviator Sites
      • Plinko
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
  • Events
  • Play Games
Bitcoinist.com
No Result
View All Result
Breaking News: Commerce Department To Release Blockchain Statistics, Says Lutnick
Dogecoin

Elon Musk Says He’s Not Actively Involved In Crypto, Then Why Is He So Bullish On Dogecoin?

Scott Matherson
by Scott Matherson
10 months ago
·
Posted in Dogecoin
Trusted Editorial content, reviewed by leading industry experts and seasoned editors. Ad Disclosure

Tesla and SpaceX Chief Executive Officer (CEO), Elon Musk has been known to be significantly bullish on Dogecoin (DOGE), often posting humorous tweets about the popular meme coin. However, recently the SpaceX CEO announced that he is not actively involved in cryptocurrency. This appears to contradict his very public adoration for Dogecoin, the king of meme coins, raising the question of why he continues to favor Dogecoin over other cryptocurrencies. 

Elon Musk Steps Back From Crypto

In a recent video shared by a popular Dogecoin supporter account called ‘CEO’ on X (formerly Twitter), Musk publicly declared that he is not actively involved in cryptocurrencies. This statement could come as a shock to many in the crypto community, considering the SpaceX CEO’s past involvement in cryptocurrencies. 

Related Reading: Bitcoin’s Market Dominance Soars To 3-Year High – Is This The End Of Altcoin Season?

Being known to be the biggest backer of Dogecoin, the top meme coin, Musk’s influence has been constantly revered as a bullish factor that could drive DOGE to new levels. Earlier in April 2019, the Tesla CEO tweeted about Dogecoin, calling it his favorite cryptocurrency. Subsequently, Musk announced in January 2022 that he would begin accepting DOGE payments for merchandise on Tesla. 

The billionaire entrepreneur was also the primary contributor to Dogecoin’s massive fame, and value increase due to his occasional humorous comments about the meme coin. These numerous involvements with the DOGE meme coin certainly contradict Musk’s declaration of stepping back from actively participating in cryptocurrency. 

The possible reason behind the SpaceX CEO’s reluctance to engage in cryptocurrency may be due to previous challenges faced, as he was sued for allegedly promoting DOGE. In June 2023, Musk was accused of insider trading by investors, leading to a $258 billion lawsuit. Fast forward to August 2024, the SpaceX CEO had won the dismissal of the lawsuit and while this was a major victory, the hassles from the lawsuit may have spurred on his recent step back from crypto. 

Despite not being actively involved in cryptocurrency like he says, Musk’s companies still utilize it as payment and hold a considerable amount of Bitcoin. Tesla has adopted Dogecoin payment and currently owns 9,720 BTC, worth $667.7 million, while SpaceX holds 8,285 BTC, valued at $572.05 million. 

Musk’s Support For Dogecoin Still Bullish

While Musk has taken a step back from actively engaging in cryptocurrencies, the Tesla CEO appears to be notably bullish on DOGE. In the earlier X video, Musk expressed his affection for Dogecoin, citing its playful dog-themed humour as part of his reason for his continued enthusiasm. 

Related Reading: Key Reasons Why Buying Shiba Inu Could Be Your Best Bet This Cycle

He explained that he frequently made jokes about Dogecoin because he felt that the meme coin had the best sense of humor, with its fun dog-themed memes. Moreover, the Tesla CEO also played a key role in Dogecoin’s over 10% surge last week after he mentioned his new proposal, “The Department Of Government Efficiency (D.O.G.E).”

Dogecoin price chart from Tradingview.com
DOGE price still holding $0.14 | Source: DOGEUSDT on Tradingview.com
Featured image created with Dall.E, chart from Tradingview.com
Editorial Process for bitcoinist is centered on delivering thoroughly researched, accurate, and unbiased content. We uphold strict sourcing standards, and each page undergoes diligent review by our team of top technology experts and seasoned editors. This process ensures the integrity, relevance, and value of our content for our readers.
ShareTweetShareShare

Sign Up for Our Newsletter!

For updates and exclusive offers enter your email.

I consent to my submitted data being collected and stored.
Scott Matherson

Scott Matherson

Follow

Scott Matherson is a leading crypto writer at Bitcoinist, who possesses a sharp analytical mind and a deep understanding of the digital currency landscape. Scott has earned a reputation for delivering thought-provoking and well-researched articles that resonate with both newcomers and seasoned crypto enthusiasts. Outside of his writing, Scott is passionate about promoting crypto literacy and often works to educate the public on the potential of blockchain.

Full Profile

Related Posts

Dogecoin PEPE

PEPE Beats Out Shiba Inu In Major Meme Coin Metric, Is Dogecoin Next?

3 hours ago
Shiba Inu Dogecoin

Can Dogecoin And Shiba Inu Prices Recover? What To Expect In September

1 day ago
Dogecoin

Elon Musk’s Lawyer Listed As Chairman Of $200-M Dogecoin Treasury — Details

2 days ago
Dogecoin news

Dogecoin Network Gears Up Against Upcoming Attack: Here’s How

4 days ago
Dogecoin

Dogecoin Price Is Ready To Launch 100%+ With This Swing Move

5 days ago
Dogecoin

Is Dogecoin On Discount? Whales Go To Market With 32.9 Million DOGE Withdrawal From Binance

5 days ago

Premium Sponsors

Press Releases

  • The Ethereum DeFi’s Return Sets the Normal for Cloud...

    7 hours ago
  • Earn $8,888 per day – OurCryptoMiner helps you turn...

    7 hours ago
  • OPTO Miner

    XRP’s post-holiday rebound is weak, and OPTO Miner...

    11 hours ago
  • XRP retreats under pressure, while DOT Miners generates...

    16 hours ago
  • Rich Miner Launches New Cloud Mining Strategy: Secure 1,000...

    17 hours ago

Bitcoin news portal providing breaking news, guides, price analysis about decentralized digital money & blockchain technology.

Buy Neo Pepe

Bitcoin

  • News
  • Price
  • Businesses
  • Acceptance
  • Technology
  • Investment
  • Regulation
  • Reviews

Altcoins

  • News
  • Price
  • Ethereum
  • Ripple
  • Litecoin
  • EOS

Categories

  • Blockchain
  • Security
  • FinTech
  • Technology
  • Trending
  • Breaking News
  • Press Releases
  • How to

About Us

  • Advertise
  • Contact us
  • Editorial Policy
  • Privacy Policy
© 2025 Bitcoinist.com. All Rights Reserved.
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
    • Price
      • Bitcoin Price
      • Ethereum Price
      • Binance Coin Price
      • Litecoin Price
  • Industry
    • Industry News
    • Press Releases
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • How to do Crypto Gambling
      • Crypto Casinos
      • Crypto Betting
    • Play Crypto Games
      • Crypto Poker
      • Crypto Slots
      • Crypto Blackjack
      • Crypto Crash Gambling
      • Plinko
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
  • Events
  • Play Games
Advertise

© 2025 Bitcoinist. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.