Elon Musk warns investors not to ‘bet the farm on Dogecoin’

The chief executive of Twitter and Tesla it is not known for being conservative and socially awkward. However, Elon Musk gave financial advice on Tuesday to crypto enthusiasts and Dogecoin fans.

“I’m not advising anyone to buy crypto or bet a farm on Dogecoin,” he said he said speaking at a conference in London held by a Wall Street Journal.

The CEO’s warning to those looking to invest in cryptocurrency is a slight departure from Musk’s colorful and legal-filled record of growing the brand.

Created in late 2013, Dogecoin is the first memecoin, or cryptocurrency that is often a joke and a fictional tool. When Dogecoin first became popular – now it has a market capitalization More than $ 10 billion and each is worth about seven cents – Musk joined the show, even calling himself “Dogefather” during the game. draw on Saturday Night Live.

Dogecoin fans became Musk’s guardians, and when he posted a picture of his dog or tweeted about the cryptocurrency-he. once said they eat Happy Meals like McDonald’s accepted the token as a payment-economy of the cryptocurrency market to climb.

And in April, “Chief Twit” for short changed the sign about a TV show from a bird to an image of a Shiba Inu, the type of dog found in the Doge meme, causing the price of the cryptocurrency to rise.

In fact, Musk’s repeated reiteration and apparent support for memecoin has prompted investors to sign up. class action lawsuit against him, he accuses the CEO of running a scheme to increase the value of Dogecoin.

This did not stop, however, the Dogefather from supporting his beloved Doge.

At the meeting on Tuesday, although he qualified that he was not encouraging the general public to use the symbol, he said that he still liked the money because it “has a great sense of humor” and “has dogs.”

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