Elon Musk Needs to Shut Up About Dogecoin and Focus on SpaceX and Tesla

Whether you subscribe to Dogecoin being a legitimate currency or not is really beside the point, and what its path as of late shows is that in the hands of the right person, cryptocurrencies can and have been bent to the will of a corporate master. One can only wonder why, at a time when SpaceX's StarShip is constantly butting heads with the FAA and with Tesla's Autopilot system under more intense scrutiny than ever, their founder is spending his time messing around with digital altcoins.

Don't get us wrong. It's not like Tesla and SpaceX aren't legitimate companies with a plethora of positive attributes for their respective industries. The Tesla Model S Plaid is a transformative vehicle in the history of EVs. A vehicle that's as striking to look at as it is supremely powerful on a level we've not seen from anything non-ICE powered before.

And then there's SpaceX's Falcon rocket program. Say what you will about Starship, but at least as far as the smaller Falcon rockets are concerned, they're quickly becoming the gold standard for affordable private-based satellite launch platforms. But all the while, as if to be some kind of cruel joke, Elon Musk is spending his time hyping up Dogecoin in interviews with Bloomberg Magazine's editor-in-chief to boost its cumulative value.

All while the rest of the crypto market proceeds to hemorrhage as much as $2 trillion worth of value as established coins like Etherium and Bitcoin continue to fall in value to levels not seen since the turn of the decade or far longer in some cases.Oh, and that's all without taking into account the gargantuan lawsuit pending against Musk thanks to accusations that SpaceX and Tesla's leading man knowingly turned Dogecoin into an elaborate pyramid scheme.

One that supposedly greatly increased his own financial capital while leaving low-level investors in Dogecoin to feel the wrath of a crypto market even more volatile than even the global stock market as of late. All added up, the damages for the class-action suit equals an eye-watering $258 billion.

That's the national GDP of a small nation kind of numbers. Considering the suit is technically levied against not only Musk himself but SpaceX and Tesla as well, suddenly, it might not seem like such a frivolous lawsuit after all. It must be made clear that Musk has not been proven guilty of running a pyramid scheme or any other white-collar crimes in any shape or form as of late June 2022.

He's still innocent until proven guilty, and we must respect this. But whether he is guilty or not, nonsense of this severe nature is antithetical to the long-term success of an automotive or aerospace company. With all this constant negative press coverage covering scandal after unnecessary scandal, it's almost difficult to remember that Musk indeed does run two companies capable of all the wonderful things mentioned above.

If you ask us, the notion that momentous achievements like the Model S Plaid and SpaceX Starship have to play second fiddle to the incessant ramblings of a billionaire with too much time on his hands is the biggest tragedy of the whole debacle. We know darn well that Musk is capable of greatness. Whether you believe it's all thanks to him or the team of engineers he surrounds himself with is really beside the point.

If Musk's idea was to fancy himself the next Henry Ford, he stands a very good chance of scuttling this aura about himself with his goofball antics. Of course, that's besides all of the less than savory things we could dig up about Henry Ford. But that's a story for another time for sure.

In any case, maybe Elon Musk would be better off going forward trying to stave off the incoming lawsuit and drop the whole crypto-wizard facade to focus on the things that really do matter. You know, like landing on the moon and having comprehensive nationwide supercharging networks. no more of this Dogecoin BS.