Elon Musk : Dogecoin is my favorite crypto, but I wouldn’t advise anyone to buy it!

·24/05/2023
·Laeti Marison (SatoshiBelle)

Tesla CEO Elon Musk has reaffirmed his interest in Dogecoin (DOGE) while advising the public not to invest their entire funds in cryptos.

Indeed, at the CEO Council Summit organized by the Wall Street Journal in London, Elon Musk issued a warning against investing in cryptos. The Tesla CEO made it clear that he does not recommend buying cryptos or betting exclusively on Dogecoin.

“I’m not advising anyone to buy crypto or bet everything on Dogecoin,” he said. However, Elon Musk stressed that DOGE remained his favorite digital currency because of its “incredible humor and dogs”.

As a reminder, Elon Musk has promoted Dogecoin on numerous occasions, going so far last April as to replace the logo of the social network Twitter with the Dogecoin logo. This event sent the DOGE share price soaring, as is often the case with statements made by Tesla’s CEO, who is followed by 141 million people worldwide on Twitter.

Elon Musk just gave his current views on crypto on an interview with WSJ

“Dogecoin is my favorite because it has the best humor and it has dogs” pic.twitter.com/QYDYbf0Yjo
— Sir Doge of the Coin ⚔️ (@dogeofficialceo) May 23, 2023

Surely, due to his large subscriber base, the American billionaire often causes turbulence on the crypto market, particularly when it comes to the Dogecoin price.

His apparent support for this “meme coin” has led some investors to take legal action against him, accusing him of manipulating the crypto’s price. The billionaire’s lawyers asked for the lawsuit to be dropped in early April, calling the allegations “fanciful fiction”.

Tagged

Article written by: Laeti Marison (SatoshiBelle)

Laeti Marison, also known as SatoshiBelle, is a multifaceted professional with a passion for community management, content creation, and digital marketing. With a diverse background in various roles, Laeti has consistently demonstrated her expertise and dedication in the field. Recognizing her potential, Laeti then took on the responsibilities of a Project and Community Manager at Magna Numeris and Cartam from November 2018 to March 2021. In this role, she showcased her ability to successfully lead projects and foster strong relationships within the community. Currently, Laeti serves as an SEO content writer, Digital Marketing Manager, and co-founder at Trendingcrypto.news magazine, starting from February 2022 till now. Through her expertise in digital marketing and her passion for the crypto industry, she has contributed to the success of the magazine, ensuring its content remains relevant, engaging, and informative.