Tech billionaire, and founder of Tesla, Elon Musk, recently expressed admiration for a specific episode of The All-In Podcast, which touched on various subjects, including Ripple’s recent legal triumph against the US Securities and Exchange Commission (SEC). Musk’s tweet, stating “Good podcast,” brought attention to Ripple’s victory and its potential influence on the broader cryptocurrency market.
Good podcast https://t.co/qymEsHk2wo
— Elon Musk (@elonmusk) July 20, 2023
Ripple’s recent win in court has been a prominent topic, capturing the interest of the Ripple community and the entire crypto industry. The favorable outcome led to an impressive surge in the price of XRP, which rose by over 80%. Beyond Ripple’s immediate gains, the ruling instilled hope in the crypto space, suggesting that the SEC’s authority may have limitations in imposing pressure on US crypto companies and their associated tokens.
The episode of The All-In Podcast, released on Twitter on July 17, featured an enthusiastic declaration by the hosts at timestamp 30:31: “BREAKING: Ripple gets big win in SEC case, token rips.”
Despite Musk’s recognition of the podcast and Ripple’s victory, it is important to note that XRP is not his primary focus in the crypto market. While Musk has shown a keen interest in cryptocurrencies, particularly Dogecoin and Bitcoin, he rarely mentions XRP or the Ripple-SEC case in his frequent tweets. His primary focus in the crypto world remains on Dogecoin, the original meme coin, which he often mentions in his tweets, eliciting enthusiastic responses from the DOGE community.
In the crypto market, Tesla, under Musk’s leadership, has been actively involved. In February 2021, the company invested $1.5 billion in Bitcoin, adding it to their balance sheet. However, Musk later suspended Bitcoin payments for Tesla cars due to environmental concerns, which caused some market volatility. Despite selling approximately 75% of their Bitcoin holdings at the end of 2021, Tesla continues to hold $184 million worth of BTC on its balance sheet as of Q2, 2023.
While Ripple and XRP may not be Musk’s primary focus, his recognition of The All-In Podcast’s discussion on the SEC case highlights the ongoing importance of legal developments in the crypto space and their potential impact on the market. As the industry evolves, attention from influential figures like Musk can shed light on critical issues and stimulate further discussions within the crypto community.
