Musk's claim in the OpenAI lawsuit that "most cryptocurrencies are scams" once again attracted market attention

Musk said in his trial against OpenAI that "some cryptocurrencies are valuable, but most of them are scams." The remarks came during a cross-examination in an Oakland, California court when the case involved OpenAI's early plans to consider raising funds through an ICO.<br /> When Musk responded to relevant questions during the trial, he pointed out that there was a large amount of speculation and fraud in the field of cryptoassets, which attracted market attention. It is worth noting that Musk's attitude towards the crypto market has shown significant fluctuations for a long time: during the bull market in 2021, he pushed Tesla to purchase approximately US$1.5 billion in bitcoin, and publicly mentioned Dogecoin many times, driving related asset prices to rise sharply. However, Tesla will reduce its Bitcoin holdings by 75% in 2022 and will provide approximately US$222 million in impairment on the remaining positions in the first quarter of 2026. As of the latest financial report, it still holds approximately 11,509 bitcoins with a book value of approximately US$786 million.