Elon Musk’s Mention of XRP Triggers XRP Army’s Excitement, But Here’s Catch
2024-10-21

Elon Musk, the serial tech entrepreneur and CEO of Tesla, SpaceX and a bunch of other innovative companies, mentioned the Ripple-affiliated XRP cryptocurrency recently, while answering questions from the audience at a Pittsburgh, Pennsylvania, town hall.
Many XRP fans in the comments responded with a great deal of enthusiasm. Some even suspected Musk of being a secret XRP supporter.
"Not endorsement of XRP"
During his recent speech in a town hall in Pittsburgh, X owner Elon Musk was asked if he believes that XRP Ledger will soon be incorporated into financial institutions in the future, considering the level of the opposition from the SEC under its current administration.
Instead of saying anything specific about XRP, Musk shared his take on cryptocurrencies in general. The tech mogul stated that he believes crypto to be an “interesting and probably valuable bulwark against a centralized control.”
Musk rushed to add that this was “definitely not an endorsement or lack of endorsement of XRP.” However, he stressed that he does believe that “crypto by its very nature helps with individual freedom.”
ELON MUSK JUST SAID #XRP OMFG pic.twitter.com/9OgZjuw6xS— Cobb (@AlexCobb_) October 20, 2024
Elon Musk, Dogecoin and crypto in general
Elon Musk is well known for his support of the original meme cryptocurrency, Dogecoin, which was created by Billy Markus and Jackson Palmer based on the Bitcoin code and launched as a parody of BTC in December 2013. Several times, Musk admitted that he was attracted to DOGE because of dogs and memes. He owns a Shiba Inu dog called Floki, which inspired the creation of the FLOKI meme coin in 2021.
Musk believes Dogecoin to be a currency of the people and reckons that it is much better suited to payments than Bitcoin. In July this year, when taking part in a podcast episode, Musk said that he would not promote any cryptocurrency unless jokingly. He warned the community that if they see any videos of him endorsing a cryptocurrency, it would be a deepfake.
Elon re: Crypto pic.twitter.com/lloHDbhSa1— Kim Runner (@kimrunner) October 20, 2024
On the same podcast, Musk said that he does believe that there is merit in Bitcoin, and perhaps some other cryptos.
His companies Tesla and SpaceX still hold Bitcoin, bought in 2021, and they also accept Dogecoin for their merchandise.