ELON MUSK ADVICE CRYPO INVESTORS TO TAKE CAUTION
Elon musk issue cautious warning on crypto investments
Tesla CEO Elon Musk urged people to be wary when investing in cryptocurrencies Friday as his upcoming appearance on Saturday Night Live spurred investors to pile into ‘joke’ cryptocurrency dogecoin this week, leaving it the fourth most valuable cryptocurrency as its value soared to new record highs.
Musk, whose tweets and comments cause seismic shifts in crypto markets, is a long-time proponent of digital currencies and has invested $1.5 billion in bitcoin through Tesla.
Musk stressed that it would be “unwise” for people to invest their life savings in cryptocurrencies.
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