Elon Musk, CEO of Tesla and SpaceX, engaged Twitter co-founder Jack Dorsey in a conversation about the importance of self-custody in cryptocurrency, but fumbled the wording of a well-known crypto adage in the process. When reacting to Dorsey’s announcement of Bitkey, a new self-hosted Bitcoin wallet from Block, Musk wrote the phrase as “not your key, not your coin” instead of “not your keys, not your coins.”
The common mantra in crypto circles highlights the need to control one’s own private keys to truly possess digital assets, a principle underscored by breaches like FTX’s misuse of customer funds. Crypto enthusiasts on Twitter quickly picked up on and criticized Musk’s mistake, poking at the exec’s reputation for occasionally inaccurate yet zealous crypto commentary.
Musk has shown similar crypto-related gaffes recently in the fallout from his promotion of a meme coin inspired by his own tweet rant. The episode reflects Musk’s sway and fascination with cryptocurrency, but also the pitfalls of his casual engagement with the space at times. While the self-custody saying error was minor, it suggests the billionaire’s grasp of crypto best practices may not match his enthusiasm.
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