Elon Musk reveals why he doesn't like cryptos except Dogecoin

Elon Musk's SpaceX is believed to have 6,900 Bitcoins worth $810 million but the tech billionaire says he doesn't like crypto currency.

A video has surfaced on Twitter (now X), ironically owned by Musk himself, in which Musk says that he won't promote cyrptos, the execption being the Dogecoin. Hillariously, Musk says he is promoting Dogecoin because he likes dogs and memes!

"I'm not going to be promoting crypto, at most, in a joking way. If you see me pumping crypto, it's not me. I do think there's merit in Bitcoin. I've sort of got a soft spot for Dogecoin because I like dogs and memes," he could be heard saying in the video put out by @cb_doge.



Musk’s remarks come at a time when Dogecoin is showing signs of a potential price breakout. The coin, trading around $0.234, has seen renewed momentum in recent weeks and is projected to surge by as much as 80% in the coming two months.

The optimism stems from a bullish chart pattern called the "double bottom," a technical formation that suggests a possible trend reversal after a sustained downtrend. According to popular crypto analyst Ali Martinez (@ali_charts), if this pattern plays out, Dogecoin could rally toward $0.42 by September.

Musk has played a pivotal role in Dogecoin’s rise from meme to mainstream. Often calling it the “people’s crypto,” he has floated the idea of integrating DOGE into his businesses—including X (formerly Twitter) and even Tesla’s payment system. Although he hasn’t commented on the latest price rally, past evidence shows that even a casual mention from Musk can send the token’s value soaring.

Dogecoin vs Bitcoin: A Meme With Momentum?

Dogecoin, created in 2013 as a satirical take on Bitcoin, has evolved far beyond its joke origins. While Bitcoin remains the gold standard for institutional investment and corporate treasury holdings, Dogecoin is slowly gaining acceptance in the business world.

One notable example is Bit Origin (Nasdaq: BTOG), which has reportedly added DOGE to its corporate treasury—highlighting growing confidence in meme-based assets.

Meanwhile, Bitcoin recently hit an all-time high of $123,091.61, reinforcing bullish sentiment across the crypto market and lifting altcoins like Dogecoin in its wake.