Elon Musk has once again voiced confidence in major cryptocurrencies at a time when the market was still reeling from steep losses and the collapse of FTX. In comments that quickly circulated across crypto communities, the Tesla, SpaceX, and Twitter chief said “BTC will make it” while warning that the market could still face “a long winter.” His remarks came in response to a social media user who asked where bitcoin might be a year later, given that the asset had fallen from roughly $69,000 a year earlier to around $16,000. Musk’s answer did not promise a rapid rebound, but it did signal that he still sees long-term viability in bitcoin despite deep drawdowns and widespread fear in the market.
According to the source material, Musk’s statement appeared to have an immediate market impact. Soon after his post, bitcoin jumped sharply from below the $16,000 level. At the time referenced in the article, BTC was trading at $16,987. While short-term price reactions to public figures are not uncommon in crypto, Musk’s influence remains especially notable because of his large audience and long history of making market-moving comments.
Musk’s Bitcoin Position Remains Intact
Musk has previously disclosed that he personally owns bitcoin, and that both Tesla and SpaceX also hold the asset. The article notes that Tesla’s latest filings with the U.S. Securities and Exchange Commission showed the company still holding about $218 million in digital assets. That disclosure matters because it reinforces that Tesla continues to maintain exposure to crypto even after reducing its position.
In July 2022, Tesla sold about 75% of its bitcoin holdings, a move that triggered debate over whether the company was backing away from the asset class. Musk, however, pushed back on that interpretation. He stressed that the sale should not be viewed as a judgment against bitcoin itself and said Tesla remained open to increasing its bitcoin exposure in the future. That distinction has shaped how many market participants interpret Tesla’s crypto strategy: tactical balance-sheet management rather than a rejection of bitcoin’s long-term role.
Musk has also argued on multiple occasions that bitcoin is suitable as a store of value. His latest comments are consistent with that broader view. Even in a period marked by lower prices, shrinking liquidity, and shaken confidence after major industry failures, he continues to frame bitcoin as an asset with staying power rather than a passing experiment.
Another Bullish Signal for Dogecoin
Musk did not stop with bitcoin. He also delivered another headline-grabbing endorsement of dogecoin, saying during a Twitter Space discussion: “Doge to the moon.” As with many of his earlier comments on DOGE, the market reportedly responded with a price increase. Though brief, the remark reinforced Musk’s ongoing role as one of dogecoin’s most visible public supporters.
For years, Musk has been closely associated with the meme cryptocurrency, earning the nickname “Dogefather” from parts of the DOGE community. He has previously said that he owns dogecoin and intends to keep buying and supporting it. He has also argued that dogecoin has “potential as a currency,” a point that separates his DOGE thesis from the way many investors discuss bitcoin. Where bitcoin is often framed as a store of value, dogecoin in Musk’s view appears more connected to payments and everyday transactional use.
That argument is partly supported by real-world acceptance across his business network. Tesla already accepts dogecoin for some merchandise. Musk also said that SpaceX would soon do the same. In addition, his Boring Company has accepted the meme coin for certain rides. These examples, while limited in scope, have helped sustain the narrative that DOGE could evolve beyond internet culture and speculative trading into a functional payment token for select services and products.
Twitter Payments Speculation Adds to the Narrative
The article also highlights growing speculation around Twitter’s potential role in digital payments. After Musk acquired the platform, Twitter reportedly filed paperwork to operate a payment business. That move sparked renewed expectations among dogecoin supporters, many of whom believe Musk could eventually integrate DOGE payments into the social media platform.
There is no confirmed implementation mentioned in the source material, but the possibility alone has been enough to keep the connection between Musk, Twitter, and dogecoin at the center of market conversation. For traders and supporters alike, the idea of DOGE being embedded in a major consumer-facing platform would represent a significant step in utility and visibility. Still, at this stage, it remains speculation rather than a formally announced product rollout.
FTX Fallout and Musk’s Warning on Custody
Musk’s comments came against the backdrop of the FTX collapse, one of the most consequential failures in crypto industry history. Asked about the future of digital assets after the exchange’s implosion, Musk offered a view that was cautiously optimistic but practical in tone. He said he believes there is probably a future for bitcoin, ethereum, and dogecoin, while declining to speak broadly about the rest of the market.
More importantly, he offered a clear recommendation on custody: if people own crypto, they should keep it in a directly accessible cold wallet, not on an exchange. In the context of FTX, that advice echoes one of the oldest principles in crypto: self-custody reduces counterparty risk. When centralized exchanges fail, users who do not control their own keys can lose access to their assets. Musk’s statement therefore went beyond market sentiment and touched on one of the most critical operational lessons from recent industry turmoil.
His view was straightforward: if someone holds bitcoin, ethereum, or dogecoin in cold storage and off exchanges, he believes it may work out well over time. That framing reflects both confidence in selected major crypto assets and skepticism toward centralized custodians following high-profile collapses.
A Familiar Musk Message in a Changed Market
What makes these remarks noteworthy is not just their bullish tone, but the timing. Crypto sentiment at the time was dominated by fear, insolvency concerns, and distrust of major platforms. In that environment, Musk chose not to abandon crypto altogether. Instead, he narrowed his focus to a handful of assets he considers more durable and paired optimism with a warning about how investors should hold them.
That combination is consistent with his broader public stance over the years. He has often been willing to criticize parts of the crypto ecosystem while continuing to support specific assets. Bitcoin remains, in his framing, a surviving long-term network even if market pain persists. Dogecoin remains, in his view, a candidate for practical payments. Ethereum, while less central to his public messaging than BTC or DOGE, was also included among the assets he said likely have a future.
For the market, Musk’s latest comments served as both a sentiment boost and a reminder. The boost came from his continued support for bitcoin and dogecoin during one of the industry’s darkest periods. The reminder came from his emphasis on self-custody: confidence in crypto’s future does not remove the need for caution about where and how assets are stored.
In short, Musk’s message was not that the pain was over. It was that survival remains possible for leading crypto assets, even after severe market stress. For bitcoin, he sees endurance through a long winter. For dogecoin, he continues to champion the possibility of broader adoption. And for investors shaken by exchange failures, his advice was simple: keep control of your coins.