Here’s What Elon Musk Says About Ripple’s Win Over SEC, Shared in a Tweet
Elon Musk, the wealthy entrepreneur and CEO of Tesla and SpaceX, praised a podcast that discussed Ripple’s recent legal win against the Securities and Exchange Commission (SEC). Musk shared a tweet about the podcast on his personal page, stating “Good podcast.” This endorsement from Musk highlights the significance of Ripple’s victory and its impact on the cryptocurrency market. The XRP price surged by over 80% following the news, and it gave hope to the crypto community that the SEC’s power over crypto companies and tokens may be limited.
Despite his interest in cryptocurrencies, particularly Dogecoin and Bitcoin, Musk has not shown any specific interest in XRP or the Ripple-SEC case. His main focus in the crypto space is on Dogecoin, often mentioning it in his tweets and causing a frenzy among the Dogecoin community. Tesla also owns a significant amount of Bitcoin, which it purchased in February 2021. However, Musk later halted Bitcoin payments for Tesla cars due to environmental concerns.
Tesla sold a large portion of its Bitcoin holdings last year, incurring a loss of around $440 million. Since then, the company has held onto the remaining Bitcoin, currently valued at $184 million. This information highlights Tesla’s continued involvement in the cryptocurrency market.
While Musk’s praise for the podcast does not necessarily indicate his support for Ripple or XRP, it brings attention to the legal battle between Ripple and the SEC. Ripple’s win has significant implications for the crypto industry and could potentially limit the SEC’s authority over cryptocurrencies. Despite not being a fan of XRP, Musk’s endorsement of the podcast still adds credibility and visibility to the topic.