Dogecoin’s Shibetoshi Nakamoto Backs Elon Musk, Accuses Media of Distorting Tesla CEO’s Image

Billy Markus, co-founder of Dogecoin, has recently defended Elon Musk against what he called a media spin machine."Markus claimed that media outlets misrepresent Musk, portraying him negatively despite his transparency.

This comes as Musk took a public stance supporting Donald Trump's 2024 campaign. He isset to host town halls for Donald Trump soon.

Markus Challenges Media Narratives on Elon Musk

Billy Markus, known online as Shibetoshi Nakamoto," recently voiced his support for Elon Musk in a series of tweets. Markus argued that mainstream media outlets often twist Musk's image, which, in his opinion, results in negative public perceptions.

i wouldn't have minded if twitter shut down, it was somewhat fun and somewhat toxic and overall unimportant

but i would be very upset if shut down

- Shibetoshi Nakamoto (@BillyM2k) October 23, 2024

According to Markus, Musk's transparency is distorted by those with hidden agendas. Markus, a longtime Dogecoin supporter, has maintained that Musk is among the most transparent public figures.

He believes that Musk's openness, rather than being respected, is manipulated to fit media narratives.

Markus says, It makes him an easy target because he gives a lot of content to work with."

In Markus's view, this results in a lazy and banal" portrayal of Musk.

Musk's Growing Involvement in Trump's Campaign

As Musk's political involvement grows, so does the attention surrounding his support of Donald Trump's campaign.Reports confirm that Musk will host two town halls this week to support Trump's 2024 bid.

ANNOUNCEMENT: Two New Town Halls with Elon Musk tomorrow and Saturday at 7pm ET

Sign up & More info here: https://t.co/15Kx9YwzSL pic.twitter.com/dVWvKCklJ4

- America (@america) October 24, 2024

According to speculation, one event will be held via telephone, and another will be held in person in Lancaster, Pennsylvania. At these events, Elon Musk could discusscryptocurrencies, including Dogecoin and XRP.

In a recent rally, Elon Musk referenced XRP and emphasized that cryptocurrency promotes individual freedom.

Musk's increasing alignment with Trump has attracted praise and criticism alike. Supporters like Markus defend him, while others, such as entrepreneur Mark Cuban, raise questions.

Tesla's Bitcoin Holdings Remain Untouched Amidst Scrutiny

Beyond his political engagement, Elon Musk's Tesla has confirmed that its Bitcoin holdings, totaling 11,509 BTC (worth approximately $765 million), have not been sold.

Arkham Intelligence confirmed this: We believe that the Tesla wallet movement were wallet rotations."

The bitcoin has been split between 7 wallets holding 1100 and 2200. All holding wallets received test transactions, and all but one holds a round number of bitcoins," Arkham added.

Tesla's Q3 2024 financial report showed growth, with no changes to its Bitcoin reserves.This announcement highlights Musk's continued commitment to Bitcoin despite fluctuations in its market price.

DOJ Investigates Musk's America PAC over Petition Initiative

As Musk's America PAC ramps up Trump campaign support, scrutiny is growing. Recently, the Department of Justice issued a warning regarding the PAC's initiative, which promises a $1 million daily prize for voter registrations.

The legality of this approach has been questioned, with critics seeing it as a potential violation of campaign finance laws.

Supporters of the initiative argue it motivates more Americans to register to vote. However, some, including Mark Cuban, are skeptical, questioning both the approach and its legality.

Cubans, in particular, have voiced concerns that Musk might overshadow Trump's campaign efforts.

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