Dogecoin Creator Defends Elon Musk, Criticizes Media Spin

Billy Markus, Dogecoin co-founder has expressed his views on Elon Musk, defending the Tesla CEO against what he believes are manipulated media narratives. Markus, known by his online name “Shibetoshi Nakamoto,” posted a series of tweets, stating that Musk is one of the most transparent public figures. 

More so, Shibetoshi stated that media spin shapes many people’s opinions about Elon Musk. Consequently, Markus argues that those with hidden agendas have distorted the “Elon Musk bad” narrative. These comments come as the Dogecoin fan continues his political involvement to support Donald Trump ahead of the 2024 U.S. presidential election.

Elon Musk Continues Trump Endorsement As Dogecoin Creator Defends Him

In a post on X, Dogecoin co-founder Billy Markus said that media outlets have distorted Elon Musk public perceptions. Markus suggested that Elon is often mischaracterized, with his transparency being used against him by those controlling the media narrative.

Responding to the DOGE co-founder, the Tesla CEO said, “Yeah, I try to be as literal as possible.” However, Billy Markus emphasized his argument replying,

“It makes you an easy target for the spin machine just cuz you give them a lot of content to work with but it feels so lazy and banal of them”

As Musk increases his involvement in Donald Trump’s campaign, the media attention on him will continue to grow. According to reports, Musk will host two town halls this week. America PAC, founded by the SpaceX CEO reported one will be via telephone on October 25, 2024, and another in person in Lancaster, Pennsylvania, on October 26, 2024.

ANNOUNCEMENT: Two New Town Halls with Elon Musk tomorrow and Saturday at 7pm ET

Sign up & More info here: https://t.co/15Kx9YwzSL pic.twitter.com/dVWvKCklJ4

— America (@america) October 24, 2024

During these events, the possibility of Musk discussing cryptocurrencies like Dogecoin and XRP remains high. In a recent rally, Musk mentioned XRP and highlighted that crypto inherently promotes individual freedom. 

Tesla Bitcoin Holdings Remain Intact

In addition to his political involvement, Elon Musk’s company Tesla confirmed that its Bitcoin holdings, amounting to 11,509 BTC worth approximately $765 million, remain intact. After speculations over a series of wallet transfers, Tesla clarified that these were security-related wallet rotations.. The company’s Q3 2024 financial report also highlighted strong growth, with no sales of its Bitcoin reserves.

Meanwhile, the Department of Justice warned Musk’s America PAC over its controversial petition initiative, which promised a $1 million daily prize to incentivize voter registration. This initiative has drawn scrutiny, with critics questioning the legality of such tactics. 

Despite support from Dogecoin co-founder Billy Markus, Elon Musk has faced criticism, with figures like Mark Cuban suggesting he has taken over Donald Trump’s campaign. Cuban also raised concerns over the legality of Musk’s $1 million giveaway in support of Trump’s election bid.

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Ronny Mugendi

Ronny Mugendi is a seasoned crypto journalist with four years of professional experience, having contributed significantly to various media outlets on cryptocurrency trends and technologies. With over 4000 published articles across various media outlets, he aims to inform, educate and introduce more people to the Blockchain and DeFi world. Outside of his journalism career, Ronny enjoys the thrill of bike riding, exploring new trails and landscapes.

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