Nevertheless Billionaire Elon Muskย (Teslaย &ย SpaceX CEO) has shown his love for memeย cryptocurrency Dogecoinย (DOGE) over the years, that doesnโt mean he is telling investors to put their life savings into it.ย
Musk informed the Wall Street Journal thisย comingย week that at its CEO Council Summit to not โbet the farm on dogecoin.โ
โIโm not advising anyone to buy cryptocurrency or bet the farm on dogecoin,โ Musk said.ย
Musk alsoย mentionedย that Dogecoinย (DOGE) is his favorite because it has โthe best humorโ and โit has dogs.โ
Pawsitive on dogecoinย
Musk, who purchased Twitter aย yearย ago, adopted Dogecoinโs symbol as its logo in April, sending the Memeย Coin coinโs value to skyrocket by over 30 percent.ย
Musk has likewise wasย known Dogecoinย (DOGE) โthe peopleโs cryptoโ back in 2021 and in June 2022 stated he would โkeep supporting Dogecoin.โ
Musk was sued in June for $258 Billion by Keith Johnson in the Southern District of New York.ย
Johnson, a New England-resident electrician, sought damages from Musk and his corporations on behalf of investors who lost money by investing in Dogecoinย (DOGE) since April 2019.ย
โDefendants were aware since 2019 that Dogecoinย (DOGE) had no value isย still promoted Dogecoinย (DOGE) to profit from its trading. Musk used his pedestal as Worldโs Richest man to operate and manipulate the Dogecoinย (DOGE) Pyramid Scheme for profit, exposure, and amusement,โ Johnson stated in his complaint charging Musk of racketeering.ย
Separately, Musk settled charges with the Unitedย States Securities and Exchange Commission and paid $20 Million and stepped down as Teslaโs chairman after the regulatingย authority stated he tweeted that he could take Tesla,ย Inc. private at $420 per share, and that financing had been secured.ย
โThe SECโs complaint alleged that, in truth, Musk knew that theย capacity transaction was uncertain and subject to numerous contingencies,โ the SEC said.ย
Dogecoinย (DOGE) was valued at about 7 cents as of Wednesday morning.ย
