Crypto Currency News

Elon Musk advises to his followers: “Please invest with caution”

The Tesla CEO wrote a short message on social media within hours of appearing on Saturday night live.

Tesla and SpaceX CEO Elon Musk seem to want to curb the crypto euphoria, of which he himself has been a part and a major driver. In the last hours, the tycoon refloated an interview with TMZ in February, and accompanied it with a message for his followers: “The crypto currency is promising, but please invests with caution.”

Despite his pro-crypto stance and well-known investments in Bitcoin (BTC) or Dogecoin (DOGE), Musk has always known that crypto currencies are risk assets. In that interview shared again, the businessman had stated that it was “unwise ” to invest all the savings in the crypto market.

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Musk’s message on Twitter shows a gesture of responsibility on his part, understanding the influence of his words, but also suggests a separation of responsibilities in the event of a strong fall. With BTC well-off in terms of retail and institutional adoption, the asset still facing criticism for having “bubble” characteristics is DOGE.

The crypto currency meme accumulates an extraordinary growth of 14,000% so far this year. With the appearance of the Wall Street Bets phenomenon, in January, the asset began to gain popularity and prices, which Musk later pushed to unthinkable limits with multiple gestures on social networks.

Tonight, the richest man in the world will be hosting on Saturday Night Live (SNL) , and the ecosystem is hoping that his short opening monologue will once again skyrocket the price of the crypto currency. Many speculators will be on the alert, but so will DOGE holdlers, whom Musk relies on to push the asset toward the $ 1 target.

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“Fate loves irony. What would be the most ironic result? That the coin that was invented as a joke becomes in fact the real currency,” Musk slipped two months ago, in the interview that he recently shared again.

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