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Dogecoin Fan Elon Musk Urges Followers to Invest in Crypto with Caution

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Tesla CEO Elon Musk has just taken to Twitter to post a TMZ video of him claiming that Dogecoin could be “the future of currency.”

Source: u.today

The billionaire writes that cryptocurrency is “promising,” but urges his followers to “invest with caution.”

Dogecoin, the joke coin that enjoys excessive attention from Musk, skyrocketed to a new all-time high of $0.69 earlier this week, turning TikTokers into overnight millionaires. The meme cryptocurrency is currently trading at $0.58 after a modest correction.

Musk, the self-proclaimed “Dogefather,” is widely expected to give Dogecoin another boost during his much-anticipated “Saturday Night Live” hosting debut that is going to take place on May 8.

While it’s unclear whether the entrepreneur has exposure to the Shiba Inu-inspired coin, he previously confirmed that had personal Bitcoin holdings. Tesla also made a $1.5 billion bet on the chief crypto in February before taking some chips off the table to prove the asset’s liquidity.

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