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Elon Musk voices his criticism of the dollar with a report of a “crypto scam”

Elon Musk voices his criticism of the dollar with a report of a “crypto scam”

Elon Musk recently posted one News on X, formerly Twitter, where he lashes out. The tweet contains a number of worrying data that points to a possible “Crypto Fraud’.

Elon Musk denounces “crypto scams”.

First of all, it looks like a large-scale crypto scam is being described:

“In fact, there are 27 trillion of them in circulation, there is no limit to the supply, there is only one node, 25% of the total supply was minted in the last 6 months and 1% of the owners own 30% of the supply.”

It almost sounds like a runaway currency or crypto. In fact, to the surprise of Twitter users, it turns out that it is all US dollar data.

Although Musk himself doesn’t mention it often, there is a lot of speculation about the possible underlying message. To a certain extent, the multi-billionaire shows envy of the American dollar.

Positive about crypto

Unlike the dollar, Elon Musk has always been a big supporter of cryptocurrencies. For example, he and his companies Tesla and SpaceX have invested a lot of money in cryptocurrencies and he has always been very positive about Dogecoin (DOGE).

Elon Musk sees crypto as the future and wants it to be used in normal life. That’s why he once had Bitcoin as a means of payment at Tesla accepted. He later withdrew from it out of concern about climate damage. This led to one Megacrash of the entire crypto market and Bitcoin in particular.

Based on previous tweets about crypto and Dogecoin, Elon Musk is also in 2022 accused due to market manipulation. Dogecoin fluctuated a lot at the time due to Musk’s tweets.

In addition, X is busy adjusting the payment methods on the website. More information on this will be available in mid-2024. It could be that he uses crypto, including his beloved Dogecoin, as a valid means of payment turns on X.

Musk’s criticism of the dollar

Musk is critical of current US monetary policy and is worried about the US dollar. For example, he fears that the US dollar will lose its status as a world reserve currency, due, among other things, to the war in Ukraine and high inflation.

For example, Russia has already switched to the Chinese yuan as a reserve currency, and others could potentially follow suit. For Musk it is clear: the future lies in cryptocurrencies and not in fiat money tweeted it already in 2021.

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