In a recent interview with WSJ, Tesla’s CEO stated he cannot advise people to allocate money in the digital currency market.
He likewise touched upon Dogecoin (DOGE), explaining why it is his favorite digital asset.
- Elon Musk (Tesla & SpaceX CEO) has had a rocky and controversial relationship with the industry of digital currency during the previous many years. It ranges from buying Bitcoin (BTC) for himself and Tesla, Inc. to selling some portions as a result of the negative impact of coal-fueled Bitcoin mining.
- Nonetheless, he has likewise been supportive of Dogecoin (DOGE) and has used almost every opportunity to boost the asset’s price and popularity, whether intentional or not.
- His words always have an effect on DOGE, likewise as other memecoins, which used the hype created by him to launch new projects.
- And once asked whether he still likes digital currencies, Musk stated he is not “advising anyone to buy cryptocurrency or bet the farm on Dogecoin.”
- Still, the billionaire also mentioned that Dogecoin (DOGE) is his favorite digital investment because “it has the best humor and it has dogs.” He likewise asserted that the most ironic outcome for worldwide currencies would be if a memecoin created as a joke becomes that worldwide currency.
- It’s notable that Dogecoin (DOGE) didn’t react well to Musk’s latest comments. It had jumped to $0.074 yesterday but dropped back down to $0.07 hours later.