Elon Musk reignited the cryptocurrency energy debate on X, endorsing Bitcoin and Dogecoin as energy-based assets that resist monetary debasement. Despite his influential social media presence, both cryptocurrencies failed to rally amid broader market weakness. The muted response highlights how markets are becoming more discerning about Musk’s crypto commentary, with Bitcoin trading near $111,000 and Dogecoin at $0.196 as broader crypto risk sentiment overwhelmed any potential “Musk effect.”
about Musk Backs Bitcoin & Dogecoin Energy Thesis, Markets Unmoved