I Have Never Said That People Should Invest in Crypto, says Elon Musk

After the bloodbath, the Crypto market has started to recover. However, the billionaire entrepreneur and CEO of Tesla & SpaceX, Elon Musk, talked about Cryptocurrency at Qatar Economic Forum.

Elon Musk denied ever saying that people should invest in cryptocurrency but confirmed having some investment in Bitcoin (BTC).

“I have never said that people should invest in crypto. In the case of Tesla, SpaceX, and myself, we all did buy some Bitcoin, but it’s a small percentage of our total cash assets.”

After trading below $20k on Saturday, the leading Cryptocurrency, Bitcoin, is back above the $20,000 mark and currently trading at $21,200, which is an increase of 4.17% on the day, despite still being at a loss of 6.83% compared to seven days ago, as per CoinMarketCap data.

A few days back, Musk also showed his support for Dogecoin, stating that: “I said I support dogecoin. And I’m doing that.”

The price of Dogecoin soared after Elon Musk affirmed his support for the meme coin on Twitter over the weekend,  saying he was still accumulating the meme coin despite undergoing massive losses. 

DOGE shot up and at press time was trading at $0.06189, which is a 4.65% gain on the day and an 8.62% increase across the previous seven days.

Disclaimer: The author’s thoughts and comments are solely for educational reasons and informative purposes only. They do not represent financial, investment, or other advice.