**TechFlame News** – Elon Musk stated during his trial against OpenAI that "some cryptocurrencies have value, but most are scams." The remark came during cross-examination at the U.S. District Court in Oakland, California, where the case touched on OpenAI's early-stage consideration of raising funds through an ICO. In response to related questions during the trial, Musk noted that the crypto asset space is rife with speculation and fraud, drawing market attention. Notably, Musk’s stance on the crypto market has shown significant volatility over time: during the 2021 bull run, he pushed Tesla to purchase approximately $1.5 billion worth of Bitcoin and frequently mentioned Dogecoin publicly, driving substantial price surges in related assets. However, Tesla sold off 75% of its Bitcoin holdings in 2022 and recorded an impairment loss of about $222 million on the remaining holdings in the first quarter of 2026. As of its latest financial report, Tesla still holds approximately 11,509 Bitcoins, with a book value of around $786 million.