Tesla CEO Elon Musk shared a post from an X user that made a satirical comparison of the U.S. Dollar to a “scam coin” on Tuesday.
What Happened: The post delineated characteristics typically associated with dubious cryptocurrencies — such as high circulation, central control (one node), significant minting, and inequitable distribution—are generally seen as warning signs of poor design and potential manipulation in cryptocurrencies.
Musk shared a post on X, “These scam coins are getting crazy. One someone just shilled me”
“27 trillion in circulation – unlimited supply cap – only 1 node”
Considering trying out virtual dating RN? We got you. Here are some tips to turn you into a video dating pro — instantly.
“25% of supply minted in last 6 months”
“1% of holders own 30%”
The post revealed, “jk that’s the US dollar,” directing his critique toward the US dollar.
Furthermore, earlier in the year, Musk, who also owns X (previously called Twitter), denied the existence of an internal token for the platform. Following an article from a handle named ‘X News Daily,’ which hinted at the possible creation of a ‘Twitter coin’ aimed at rewarding content creators with convertible ‘diamonds,’ Musk’s response was: “No.”
Are You Taking One of These 9 “Memory Erasing” Prescriptions? [ad]
You may think your memory loss is just a sign of getting older, but one of these 9 drugs could actually be damaging your brain... These 9 prescription drugs have now been linked to Alzheimer's disease diagnoses. If you're over the age of 60, and you're taking even 1 of these 9 drugs, your brain could be at risk. Click here to learn more.
See More: Dogecoin HODLERs Are Beating Shiba Inu With 57% Landing In Profits, IntoTheBlock Data Reveals
Why It Matters: Meanwhile, Tesla has realized a profit from its Bitcoin (CRYPTO: BTC) holdings.
The electric vehicle giant has reportedly harvested upwards of $230 million following the launch of Bitcoin spot ETFs on January 11 of this year. On-chain analysts peering into the digital wallets of Tesla and SpaceX disclosed Bitcoin’s worth surpassing $1 billion.
The climb in Bitcoin’s value, reaching a record peak of $72,000, is partly attributed to the purchasing momentum driven by the introduction of spot Bitcoin ETFs in the United States.
If you can’t decide whether to get the 2-in-1 Windows tablet hybrid, traditional laptop, or desktop, we’re here to help.
Price Action: At the time of writing, BTC was trading at $72,075 up 0.46% over the last 24 hours, according to data from Benzinga Pro.
Read Next: Here’s How Much You Should Invest In Shiba Inu Today For A $1M Payday If SHIB Hits 1 Cent?
Photo by VAKS-Stock Agency on Shutterstock
