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, “unresolved matters” in his Twitter takeover bid, and the likelihood of a near-term U.S. recession.
Elon Musk speaks out about Crypto Investing
Tesla CEO Elon Musk shared his thoughts on a wide range of topics in an interview with Bloomberg News’ John Micklethwait at the Qatar Economic Forum Tuesday.
The discussion also included cryptoinvesting. Musk was asked by a reporter if he believed people should continue to invest in crypto, considering the current state of the cryptocurrency market. Tesla CEO Musk stated that he had never advised people to buy cryptocurrency.
It has never been my intention to say that crypto should be invested in. In the case of Tesla, Spacex, myself, we all did buy some bitcoin, but it’s a small percentage of our total cash assets.
Spacex’s chief revealed previously that he owns both ether (ETH), and dogecoin(DOGE), while Tesla and Spacex own only bitcoin (BTC).
Musk Reacts to People Who Encourage Him To Buy Dogecoin
Musk went on to explain why he believes in the meme cryptocurrency, dogecoin. Musk stated that Tesla will accept dogecoin to purchase some products, and Spacex would do the same.
He reiterated that he would continue to support DOGE.
It’s not difficult for me to know many people that aren’t very wealthy, but they have supported my decision to support and buy dogecoin. I’m responding to those people.
Musk, Spacex and Tesla have been sued for their support of dogecoin. A dogecoin investor lost millions trading the meme coin, and he was the lead plaintiff. He alleges that Musk and his companies “are engaged in a crypto pyramid scheme (aka Ponzi scheme) by way of dogecoin cryptocurrency.”
Twitter Deal Stalled: There Are ‘Unresolved Matters’
Musk discussed the obstacles that stand in his bid for Twitter Inc. to be bought at $44 billion. He admitted that there are still a few “unresolved matters” before the deal can be completed.
Tesla’s CEO said that they were still waiting on a solution to the problem of spam bots being used on its mega-social media platform.
It is unclear if the creditors will be included in the final round. Then, how will shareholders vote?
He emphasized that he would focus on “driving the product” at Twitter but does not necessarily plan to become the CEO of the social media company. “One way or another, one needs to take the steps that entice most people to use Twitter,” Musk said, adding:
Ideally, I’d like to get like 80% of North America and perhaps … half the world or something ultimately on Twitter in one form or another.
Twitter says that bots account for less than 5%. Musk argued that is “not most people’s experience” on the service.
Near-Term Recession ‘More Likely Than Not’
Spacex CEO, was asked if he expects that the U.S. economy would slide into recession. He responded:
At some point, a recession will be inevitable. In the short term, a recession is most likely.
Musk shared his thoughts on a possible recession quite a few times. He stated that the U.S. could be in recession for 12-18 months as early as May. He stated in the same month that we were approaching a recession if we don’t already have one. However, he noted that it is “actually a good thing.”
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