- Elon Musk firmly asserts that X (previously known as Twitter) will never venture into launching its crypto token.
- Musk’s response comes amid concerns raised about bogus tokens and memecoins posing as officially sanctioned X crypto projects.
Blockchain industry veteran Elon Musk, the proprietor of X (formerly known as Twitter), recently dispelled rumors about X’s potential entry into the crypto space. Responding to a user’s caution against counterfeit tokens or memecoins claiming to be officially endorsed X crypto projects, Musk declared definitively that X “will never” launch its own cryptocurrency.
Musk’s Stance on Crypto Misconceptions
The conversation unfolded on X’s platform when user @cb_doge sounded an alarm against falling for counterfeit tokens or memecoins pretending to be sanctioned by X, or misleading news articles about them. Musk intervened in the discussion, stating unequivocally:
“And we never will.”
This statement put to rest a wave of speculation that had been surrounding X’s potential launch of a crypto token, given Musk’s well-known affinity for cryptocurrencies, particularly Dogecoin.
Despite Musk’s statement, it is undeniable that numerous low-cap tokens have emerged with names associating themselves with X, Twitter, or Musk himself. Examples include X/TWITTER, ELON BUYS TWITTER (EBT), CryptoTwitter (CT), TWITTERDOGE (TDOGE), among others. These tokens, regardless of Musk’s disapproval, continue to exist, capitalizing on Musk’s influence and the widespread fascination with cryptocurrencies.
Musk’s association with Dogecoin, the preeminent memecoin, is well-documented. The tech mogul once altered the then-Twitter’s logo to feature the Dogecoin emblem, an act that sparked a 27% surge in the coin’s price at the time. However, his recent assertion makes it clear that his personal inclination towards cryptocurrencies does not extend to launching a crypto token for his platform X, distinguishing between his personal interests and the strategic plans for the platform.
