Twitter CEO Elon Musk has said bitcoin will recover, but it will take time due to the long winter. Tesla owners are very interested in cryptocurrencies and have a lot of influence over DOGE. Moreover, despite the crypto winter and the FTX crash, Musk sees a future for Bitcoin, Ethereum and Dogecoin.
Musk's predictions for the future of cryptocurrencies
Musk talks about the future of bitcoin in response to Twitter users talking about the price of bitcoin, which is currently trading at $690,000 after falling to $160,000 a year ago.
As a result of Musk's comments, the price has risen to $16,980 from $17,000 previously and is now trading at $16,767, up 4.88% at the time of writing. As mentioned, he owns some bitcoins, as do Tesla and SpaceX. And, according to Tesla's most recent SEC filing, the company has $21.8 billion in digital assets and has sold 75 percent of its BTC holdings.
Musk, a DOGE enthusiast, tweeted a response to the bullish DOGE moon landing statement on Saturday.
Musk has long been a proponent of meme cryptocurrencies. The DOGE community called him the Dogefather. The billionaire recently said he owns some Dogecoin and intends to continue acquiring and backing the joke cryptocurrency. He believes Dogecoin has monetary potential. He wants to integrate DOGE Payments into the Twitter platform because his support has caused DOGE's price to rise, trading at $0.08627 at the time of writing, up as much as 6.30%.
Also, he tweeted Saturday
I believe Bitcoin, Ethereum and Dogecoin all have a future. I can't deal with anyone else. However, if you keep one of these three out of cold wallets and exchanges, I believe it will be fine.