Elon Musk’s iconic ‘Bitcoin’ post on X (formerly Twitter) has reached its six-year milestone. Since that memorable tweet, Bitcoin has witnessed an astounding 1,000% price increase. While the tech mogul has maintained a relatively quiet stance on Bitcoin lately, he remains a prominent figure in the crypto space, particularly due to his well-known affinity for Dogecoin (DOGE).

The Historic ‘Bitcoin’ Post Turns Six

October 2018 marked a significant moment when Musk’s X account posted the now-famous “Wanna buy some Bitcoin? 😉😉” tweet. This occurred well before his acquisition of the social media platform.

Some skepticism surrounds whether Musk actually made this post, given his historically cautious approach to digital assets. Nevertheless, those who took the post seriously and invested in Bitcoin have seen their investment grow by approximately 1,000%.

Despite the historic tweet, Musk has never explicitly endorsed Bitcoin. In fact, earlier this year, he clarified that he wouldn’t actively promote Bitcoin or any cryptocurrency, limiting his crypto-related comments to casual mentions. However, he did acknowledge cryptocurrencies’ value while expressing a particular fondness for Dogecoin, citing his appreciation for dogs and memes.

It’s worth noting that Musk’s companies maintain significant Bitcoin holdings. Tesla recently moved its $760 million BTC holdings to various undisclosed wallets, while Arkham Intelligence data reveals SpaceX currently holds 8,285 BTC (valued at $558 million) in its public wallet.

Musk’s Influence on Dogecoin’s Performance

The Tesla CEO’s casual support for Dogecoin has significantly impacted the meme coin’s market performance. His periodic references to DOGE contributed substantially to its remarkable price surge during the 2021 bull market.

Musk might again influence Dogecoin’s trajectory, particularly with his proposed Department of Government Efficiency (D.O.G.E) under a potential Trump administration. The similarity between this acronym and Dogecoin’s ticker symbol sparked a notable price rally last week, pushing DOGE to its highest value since late July.

During a Pennsylvania town hall meeting, Musk also addressed XRP, responding to an audience question about XRP Ledger’s potential integration with financial institutions. While carefully noting his statement wasn’t an endorsement, he emphasized that cryptocurrency’s fundamental nature supports individual freedom.

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Disclaimer: Content may contain the author’s personal views and is subject to market conditions. Conduct your own market research before investing in cryptocurrencies. Neither the author nor the publication bears responsibility for personal financial losses.