Elon Musk, during a riveting X Takeover appearance, surprised fans by stating he will not actively promote Bitcoin or Dogecoin, though he remains enthusiastic about both.

Tesla Owners Silicon Valley's Elon Musk, a serial tech entrepreneur, was a guest on today's X Takeover show. The event took place on Musk's X social media site. Several active DOGE army members have reposted parts of this video on the same app.

Musk discussed his current thoughts on Bitcoin and the YouTube footage where he was caught discussing Bitcoin two years ago on the show.

Bitcoin's Merit

Musk stated, "there is merit in Bitcoin and maybe some other cryptos." in response to a question about his present opinion on the most popular cryptocurrency in the world. Because he likes "dogs and memes," the internet entrepreneur confessed that he has a soft place for Dogecoin, the original meme cryptocurrency.

Per U.today, Musk has been quite forthright about his intention to not endorse any cryptocurrency. On the other hand, he did say that the most he could do was do it "in a joking way." A video showing him pumping cryptocurrency is a deepfake, he added.

No Crypto Endorsements

A number of prominent Dogecoin army accounts started repeating this quote by Musk alongside memes that included elements from the animated film the "Lion King," suggesting that they may have interpreted this statement as "joking advertising" of DOGE.

Even though he hasn't been writing much about Dogecoin on X as of late, the Tesla CEO's continued enthusiasm for the cryptocurrency is evident in this podcast. Still, Musk has not backed out of his intentions to fly DOGE-1, the lunar mission, and DOGE is still redeemable for products on the SpaceX and Tesla online stores.

Over the last several years, the price of DOGE soared thanks to Musk's increasingly regular tweets on the canine coin. However, as time went on, his influence over the coin's value diminished significantly.

Hashmojis representing Bitcoin and other cryptocurrencies are no longer displayed on Elon Musk's X platform as of last week.