Elon Musk urges caution in cryptocurrency investing

Elon Musk warned of the risks of investing in digital assets and urged investors to approach the matter with caution.

Cryptocurrency is promising, but please invest with caution! https://t.co/A4kplcP8Vq

— Elon Musk (@elonmusk) May 7, 2021

\”Cryptocurrencies are promising, but please invest with caution,\” warned the founder of Tesla.

Attached to the message was a video from February 2021 in which he described investing savings in digital assets as imprudent. The billionaire noted that those who wish to trade cryptocurrencies can ‘have fun’, and the success of Dogecoin depends on the ‘will of the people’.

Earlier it emerged that Musk would host Saturday Night Live on May 8.

In February 2021, Musk opublished a series of tweets about Dogecoin, after which the cryptocurrency rose in price by nearly 50%.

Tesla invested $1.5 billion in Bitcoin. Musk described these investments as ‘quite risky’ and hinted that it was not his decision.

In April, the electric-vehicle maker sold a portion of assets in Bitcoin for $272 million.

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