Elon Musk has promised not to promote cryptocurrencies. At best, "as a joke." Meanwhile, it was Musk who famously managed to draw attention to cryptocurrencies that were of interest to him with a single X tweet. How should Musk's current position be assessed? Is this really a move away from meddling in pricing or just another one of his PR ploys?
His controversial statements and actions on social media have often caused sharp price swings, especially for Dogecoin. However, he now seems to be taking a step back, urging investors not to take his words at face value.
This can be seen as an attempt to distance himself from market manipulation and drop his role as a "crypto genius" who can pump up prices with one tweet. That said, investors continue to parse his words and actions, leading to speculation and volatility.
Thus, his statement could be both sincere and a skillful PR move. Musk has always offered freedom for interpretation, leaving room for investors to draw their own conclusions. Perhaps this is what keeps him in the spotlight of the crypto industry.