Although billionaire Elon Musk has shown his love for meme coin Dogecoin over the years, that doesn’t mean he’s asking investors to put their life savings into it.
Musk told wall street journal on it this week CEO Council Summit Not to “bet the farm on the dog.”
“I’m not advising anyone to buy cryptocurrency or bet the farm on Dogecoin,” Musk said.
Musk said Dogecoin is his favorite because it has “the best sense of humor” and “dogs in it.”
positive on dogecoin
After Musk, who bought Twitter last year, adopted the Dogecoin symbol as its logo in April, the meme coin’s value skyrocketed. 30 percent,
Musk has also called Dogecoin “the people’s crypto” in 2021 and said in June 2022 that he would “continue to support Dogecoin.”
was musk sued on by Keith Johnson in the Southern District of New York in June for $258 billion.
Johnson, an electrician from New England, is seeking damages from Musk and his companies on behalf of investors who lost money investing in Dogecoin since April 2019.
In his complaint, Johnson said, “Defendants knew since 2019 that Dogecoin had no value, yet promoted Dogecoin to profit from their business. Musk used his pedestal as the world’s richest man to To operate and manipulate the Dogecoin pyramid scheme for profit, risk and entertainment.” Accusing Kasturi of looting.
separately, oysters Settled Charged with the US Securities and Exchange Commission and paid $20 million and stepped down as Tesla chairman after the regulator tweeted that he could take Tesla private at $420 per share, and that the money would be secured happened.
“The SEC’s complaint alleges that, in truth, Musk knew that the potential transaction was uncertain and subject to a number of contingencies,” the SEC said.
Dogecoin was worth about 7 cents as of Wednesday morning.