Neither
I'd go with Tolkein.
"As a story, I think it is good that there should be a lot of things unexplained (especially if an explanation actually exists)... And even in a mythical Age there must be some enigmas, as there always are. Tom Bombadil is one (intentionally)."
Anything else is reading too much into parsing his words to divine his intent.
If he walks like an enigma, talks like and enigma, and JRR has himself said he is an enigma, then by golly.......