Elon Musk flags crypto scams, says 'if I had a Dogecoin for every crypto scam'

Elon Musk has offered to buy the microblogging site Twitter and has been discussing various ways he plans to improve the platform.

At a TED conference held in Vancouver on Thursday, Musk informed the audience that if his bid to acquire Twitter was accepted, he would consider modifying the platform's approach to controversial and problematic content, including tweets by crypto scam bots.

“A top priority I would have is eliminating the spam and scam bots and the bot armies that are on Twitter” Musk told TED Curator Chris Anderson.

Musk explained that scam bots are extremely rampant on the microblogging site, and he used an interesting analogy to drive his point home.

“They (scam bots) make the product much worse. If I had a Dogecoin for every crypto scam I saw, we’d have 100 billion Dogecoin," Musk said.

Musk’s mention of the meme coin caused a brief rally in the price of the token. As shown in the graph, Dogecoin briefly zoomed after Musk’s remarks.

Interestingly, Dogecoin is one of the few top tokens that is in the green today amid the bloodbath the crypto markets are witnessing.

Dogecoin also showed a brief uptrend last week when Elon suggested integrating Dogecoin as a payment option on Twitter Blue.

The token is trading at $0.1437 as of 10:30 am IST as per data from CoinMarketCap.

It is noteworthy to mention that as of April 4, Elon was Twitter’s largest shareholder but was overtaken now by the Vanguard Group on Thursday.

The asset management firm increased its holdings to over 10 per cent, making them the majority shareholder in the microblogging site.

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