Elon Musk Endorses Investment in AI Crypto

Elon Musk has expressed his support for investing in cryptocurrency companies within the AI sector.

Azcnews (5)

On Monday, Elon Musk, the CEO of Tesla and SpaceX, acknowledged the recent predictions made by venture capitalists who had previously shown optimism towards cryptocurrency and artificial intelligence. The insight came from a post by a user named Daniel on the X platform (formerly Twitter), sharing a meme that humorously depicted the shifting preferences of venture capitalists. The meme humorously stated, “I support the current thing.”

In response to the meme, Elon Musk affirmed the accuracy of this latest prediction, acknowledging that, in this case, “they’re right.” This acknowledgment aligns with Musk’s previous discussions on investor philosophy during a Spaces conversation with Cathie Wood, the CEO of ARK Investment Management, where he emphasized the value of having more allies in business, considering each investor as an ally.

Elon Musk’s extensive portfolio includes companies such as The Boring Co., Neuralink Corp., X (formerly Twitter), and xAI Corp. Notably, Musk emphasized his successful track record, boasting that he has never incurred losses for any investor in over 100 financing rounds across all his companies throughout the years.

In August 2023, it was reported that Neuralink, a company backed by Musk, secured a substantial $280 million in funding from Peter Thiel’s Founders Fund. This venture capital firm, linked to Musk through various investments, also supports other private companies, including SpaceX and The Boring Company.

Related: Elon Musk Revealed That He Still Holds Dogecoin

While Elon Musk orchestrated a high-profile buyout of Twitter with a consortium of 19 investors, including Andreessen-Horowitz VC fund, Larry Ellison (Oracle founder), Sequoia Capital, and Ron Baron, the investment took a downturn a year later. Investors experienced a significant depreciation in their stakes, amounting to approximately $4.6 billion, highlighting the volatile nature of such endeavors.

4.8/5

(11 votes)
  1. Avatar of
    Anonymous

    Good sense

  2. Avatar of Cleophas Koech
    Cleophas Koech

    Hello friends👋😊

  3. Avatar of Joshua
    Joshua

    This is realllyyy interesting, we’ll be here to see how it all ends.

  4. Avatar of
    Anonymous

    🇰🇪🤑🤑

  5. Avatar of Abdulrasheed Adamu yahaya
    Abdulrasheed Adamu yahaya

    I’m happy and I’m really appreciate

  6. Avatar of Adamu ldris Dula
    Adamu ldris Dula

    Some crepto-currency experts predict that many crepto-mining companies will go-down the drain due to giant strides success by 3:Bitcoin, Etherium, XRP and lately Sidracoin.

Leave a Reply

Your email address will not be published. Required fields are marked *

Latest

Bingx Announces Listing Of Swarm Markets (smt)

Altcoin | Editor Choice

BingX Announces Listing of Swarm Markets (SMT)

BingX exchange announces the listing of Swarm Markets (SMT) - a DeFi platform licensed by the Germany's Federal Financial Supervisory Authority (BaFin).

Azcnews Nigeria Confirm

News | Editor Choice | Policy & Regulations

Central Bank of Nigeria Confirms Not Blocking Crypto Users

The Central Bank of Nigeria (CBN) has officially confirmed reports of their freezing of user accounts on platforms such as Bybit, OKX, Kucoin, and Binance as fraudulent.

Azcnews President Joe Biden Proposes Highest Tax Rate In History

News | Editor Choice | Policy & Regulations

President Joe Biden Proposes Highest Tax Rate in History

US President Joe Biden has just proposed increasing capital gains tax to 44.6%, marking the highest federal capital tax rate ever.

Bitcoin Dip 64500

News | Bitcoin | Editor Choice

Bitcoin Dips to $64,500, Yet Scarcity Remains High

Despite Bitcoin dipping slightly to $64,500 currently, most experts believe that prices will soon enter a bullish cycle.

What Is Gas Fee

Blockchain | Editor Choice | Research

What is Gas Fee? A Guide to Optimizing Gas Fees Effectively

In any blockchain environment, Gas fees play a crucial and nearly irreplaceable role. So, what is Gas fee? How can you optimize Gas fees? Let's find out!