Elon Musk: ‘Cryptocurrency Is Promising, but Please Invest with Caution’

The CEO of the world renowned companies SpaceX and Tesla, has become a strong advocate in the latest wave of interest for dogecoin, some analyst claim, as he is constantly using his Twitter platform to talk about the cryptocurrency, CNBC informed.

However, right before hosting the SNL show on NBC on May 8, Musk told his Twitter followers that although cryptocurrency might be promising, they should be really cautious if they plan to invest.

The billionaire also posted a link to a video where he is interviewed by TMZ in February, where he voices the same opinion.

In the interview he advised people that it is not wise to invest all life savings in cryptocurrency.

He also threw some speculations that crypto might just be the Earth’s future currency, or maybe there will be even multiple currencies.

Some analysts agree that those that want to invest in crypto should really be careful to invest sums that are prepared to lose.

Musk for TMZ said that he supports dogecoin, a cryptocurrency that was first initiated as a joke to make fun of cryptocurrency, that shows a shiba inu dog. By the end, the joke turns into a real currency.

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