Elon Musk Advises Against Betting on Dogecoin

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Last Updated on May 24, 2023 by Bitfinsider

Despite his extreme fondness for dogecoin, Elon Musk stated that he is not advising anyone to invest significantly in cryptocurrency.

Musk, speaking virtually at The Wall Street Journal’s CEO Council Summit in London, stated, “I’m not advising anyone to invest in cryptocurrencies or bet the farm on Dogecoin.”

Musk has a lengthy history with dogecoin, having promoted it on Saturday Night Live, purchased it for his son, and offered to assist its developers in making it more suitable for widespread adoption. After purchasing the company, he fulfilled his promise to temporarily replace the Twitter logo with a dogecoin image.

He also explained in the conference why he was such a devotee. “Dogecoin is my favourite cryptocurrency because it has the best sense of humour and is associated with dogs,” he added.

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Disclaimer: The views and opinions expressed by the author, or any people mentioned in this article, are for informational purposes only, and they do not constitute financial, investment, legal, tax or other advice. Investing in or trading cryptocurrency or stocks comes with a risk of financial loss.