Bitcoin and cryptocurrencies have surged, driven by fears raised by uncontrolled government spending and former US President Donald Trump’s crypto blitz. Recently, MicroStrategy’s Michael Saylor, a famous billionaire investor, predicted a “collapse” in the market. Meanwhile, Tesla CEO Elon Musk has called XRP and crypto “interesting and potentially valuable.”
XRP and Crypto prices surge after Tesla Elon Musk support
At a campaign rally for former US President Donald Trump in Pittsburgh, when an attendee asked Elon if the cryptocurrency XRP could be integrated into the financial system, Musk said: “I think cryptocurrencies are an interesting and potentially valuable security against centralized control,”
Moreover, he clarified that he is not endorsing XRP or any other specific cryptocurrency, but he stressed: “Crypto by its way helps with individual freedom.”
Moreover, he later said he is “not actively involved in cryptocurrency.” He also dodged a question about whether blockchain, the technology behind Bitcoin and other cryptocurrencies, could be used to reduce or eliminate voter fraud in future elections.
In addition, Musk has decided to head the so-called Department of Government Efficiency suggested by Trump, which he named Doge – a reference to the meme that is also the basis of the Dogecoin cryptocurrency.
Musk caused a stir in Bitcoin prices last week when the electric car company suddenly moved his remaining Bitcoins at $765 million.
On the other hand, the price of Bitcoin has closed at $70,000 per Bitcoin, just behind the all-time high of $73,000 reached earlier this year thanks to BlackRock’s Bitcoin and Crypto Wall Street Revolution.
