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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, “unresolved matters” in his Twitter takeover bid, and the likelihood of a near-term U.S. recession.

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.

Crypto investing was among the topics discussed. Musk was asked whether he thinks people should still invest in cryptocurrency given the market downtown. The Tesla CEO clarified that he has never recommended that people buy cryptocurrency, stating:

I have never said that people should invest in crypto. In the case of Tesla, Spacex, myself, we all did buy some bitcoin, but it’s a small percentage of our total cash assets.

I just know a lot of people who are not that wealthy who, you know, have encouraged me to buy and support dogecoin. I’m responding to those people.

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 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 claims that bots make up less than 5% of total users. Musk argued that is “not most people’s experience” on the service.

The Spacex CEO was asked whether he thinks the U.S. economy will slide into a recession. He replied:

A recession is inevitable at some point. As to whether there is a recession in the near term, that is more likely than not.

What do you think about Elon Musk’s comments? Let us know in the comments section below.


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