Elon Musk expressed skepticism about cryptocurrencies during an OpenAI hearing, stating that while some digital assets make sense, most are scams. This comment was made in the context of discussions about OpenAI's 2018 ICO fundraising plan, which aimed to support the organization through an initial coin offering. OpenAI noted that Musk was aware of the potential shift to a for-profit model and had supported the ICO plan.Musk's remarks highlight his mixed stance on cryptocurrencies. Previously, he was a vocal advocate, notably leading Tesla's $1.5 billion Bitcoin investment in 2021. However, Tesla divested 75% of its Bitcoin holdings in mid-2022, reflecting a more cautious approach.