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Elon Musk Cheers Ripple’s Win Against SEC: A Milestone for the Crypto Industry?

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  • Elon Musk, the CEO of Tesla and Twitter, shows his appreciation for a podcast episode discussing Ripple’s recent legal victory over the SEC.
  • Despite this, Musk does not appear to be a direct advocate of XRP, showing greater interest in cryptocurrencies like Dogecoin and Bitcoin.

As one of the world’s most influential tech entrepreneurs, Elon Musk recently turned his attention to Ripple’s groundbreaking victory over the Securities and Exchange Commission (SEC). His platform of choice to express this was none other than Twitter, where he shared a tweet praising The All-In Podcast for discussing this critical development in the cryptocurrency sphere.

Musk Lauds Podcast’s Analysis on Ripple’s Triumph

The All-In Podcast, covering a variety of topics, caught the attention of the Tesla and Twitter CEO due to its conversation about Ripple’s recent court win. Musk showed his endorsement by retweeting the episode and commenting, “Good podcast.” The verdict, a significant milestone for Ripple, has not only propelled the price of XRP up by over 80% but has also injected a sense of hope into the wider crypto community. The triumph suggests that the SEC may not maintain complete dominance over US cryptocurrency entities and the digital tokens they manage.

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The podcast episode, released on July 17, highlighted the news with the statement,

>> Buy XRP quickly and securely with PayPal, credit card or bank transfer at eToro with low fees and deposit protection. Get started with XRP now. Visit Website <<

“BREAKING: Ripple gets big win in SEC case, token rips.”

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This crucial victory has since been a trending topic, stirring discussion amongst crypto enthusiasts and industry professionals alike.

Musk’s Cryptocurrency Preferences: Beyond Ripple and XRP

Despite Musk’s interest in the Ripple-SEC case, his primary focus in the crypto world seems to lie elsewhere. Known for his fervor for Dogecoin and Bitcoin, Musk has not explicitly mentioned XRP or Ripple in his extensive list of crypto-related tweets. Nonetheless, the XRP community continually attempts to pique Musk’s interest whenever he shares anything related to cryptocurrencies.

Musk’s adoration for Dogecoin, often referred to as the original ‘meme coin,’ is well-known and frequently discussed on his Twitter profile. Even subtle references to “dogs” by Musk send the Dogecoin community into a frenzy, interpreting it as a veiled nod to their favored coin.

Furthermore, Tesla maintains a substantial Bitcoin holding from their initial investment in February 2021, when they added $1.5 billion worth of Bitcoin to their balance sheet. After a brief period of accepting Bitcoin as a payment method for Tesla vehicles, the company ceased this practice due to environmental concerns. Despite having sold approximately 75% of its Bitcoin holding and enduring a loss of around $440 million by the end of 2021, Tesla continues to hold Bitcoin valued at $184 million as of Q2, 2023.

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Jack Williams
Jack Williams
As a Blockchain Analyst, I specialize in analyzing the performance of decentralized systems and optimizing their efficiency. Through data analysis, I provide insights on blockchain technology, smart contracts, and cryptocurrencies to help businesses make informed decisions and improve their operations.
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