Though Billionaire Elon Musk has shown his love for meme coin Dogecoin over the years, that doesn’t mean he is telling investors to put their life savings into it.
Musk told the Wall Street Journal this week that at its CEO Council Summit to not “bet the farm on dogecoin.”"I'm not advising anyone to buy crypto or bet the farm on dogecoin," Musk said.
Musk added that dogecoin is his favorite because it has "the best humor" and "it has dogs."Musk, who bought Twitter last year, adopted Dogecoin’s symbol as its logo in April, sending the meme coin’s value to skyrocket by over 30 percent.
Musk has also called Dogecoin “the people’s crypto” back in 2021 and in June 2022 said he would “keep supporting Dogecoin.”Musk was sued in June for $258 billion by Keith Johnson in the Southern District of New York.Read more on cryptonews.com