The Tesla CEO said crypto users should avoid wallets that do not give them access to their private keys.
Elon Musk has issued short shrift to Freewallet on Twitter after the cryptocurrency wallet provider attempted to use the Tesla CEO’s tweet celebrating dogecoin to promote its services.
- Saying Freewallet’s app “sucks,” Musk stated Wednesday his belief that crypto users should avoid wallets that do not give them access to their private keys.
- Musk followed this up by tweeting an image of Chuck Norris saying the martial artist and actor “can withdraw bitcoins from Mt. Gox”, a take on the popular “Chuck Norris Facts” meme
- Owing to security incidents such as the infamous hack of the Mt. Gox exchange, which relieved nearly 750,000 users of $450 million-worth of bitcoin (BTC, -3.8%), crypto experts recommend storing holdings in secure wallets away from third-party providers.
- The sentiment has given rise to the popular expression, “Not your keys, not your coins.”
- According to other tweets, Musk seems to have tried Freewallet and initially had trouble accessing the app.
- Musk has been fond of tweeting about bitcoin and dogecoin, often seen as friendly trolling of the crypto community. However, Tesla disclosed Monday that it had invested $1.5 billion in bitcoin, news that caused the cryptocurrency to rise to new highs above $48,000.