Elon Musk Predicts Bitcoin: When Does Winter End?

Elon Musk once again shared his thoughts on Bitcoin (BTC). This time, he responded to a comment about where Bitcoin will be in the coming period. Here are the details…

Elon Musk thinks Bitcoin will “succeed”

The richest man in the world once again shared his thoughts on Bitcoin, the largest cryptocurrency by market value. Musk, the CEO of Tesla and the new owner of Twitter, reiterated his stance that Bitcoin will “achieve”. “Bitcoin will make it, but it could be a long winter,” Musk said.

This is what Elon Musk had to say about the primary cryptocurrency in the context of what’s going on right now. He also replied, “You don’t even need to say it,” to a user’s response to “I guess you meant DOGE”.

This came in response to the question of where BTC will be in another year, given that it was trading at an all-time high of $69k in November 2021. Winter defines a long period of time in the financial world during which market prices depreciate.

BTC, ETH and DOGE have the future

Musk’s latest tweet is no surprise. As we reported on cryptokoin.com, he joined a discussion on Twitter with more than 60,000 listeners to talk about the FTX collapse. In the broadcast he participated in the other day, he used the following expressions:

I think there is probably a future for Bitcoin, Ethereum and DOGE. I can’t really talk about the others. But if you’re keeping one of these three in a cold wallet, it works fine I guess.

Musk expressed his thoughts about the CEO of FTX

Musk told more than 60,000 listeners that he had never heard of Bankman-Fried initially, but when he got a chance to talk to him, something didn’t seem right. Musk’s interaction with Bankman-Fried centered around the Twitter acquisition deal, which the FTX founder expressed interest in. Musk used the following statements:

To be honest, I’ve never heard of him. But then a lot of people told me he had a huge amount of money he wanted to invest in the Twitter deal. I talked to him for about half an hour. I knew my bullshit meter was on the red line. This man was bullshit – that was my impression.

November 11 Musk added that while major industry players praised Bankman-Fried, he remained skeptical of his potential to succeed in the deal. “I said at the time, everybody was talking like [SBF] had a lot of money, including the big investment banks. That was not my impression,” he said.