Elon Musk Says Crypto is Promising but Needs Caution

by in Cryptocurrency News

Elon Musk crypto investing

Tesla CEO Elon Musk who is a big supporter of Dogecoin shared his thoughts about crypto investing during the TV program TMZ.

Related: Elon Musk Calls Himself Dogefather, The Coin Surges

Musk says crypto is promising, however, he advises investing with caution. The billionaire once again mentioned Dogecoin, saying it can be the future of currency and in general, crypto may be the future money of the Earth. Musk says people shouldn't invest their life savings in crypto, but the specter may be profitable.

On May 8, Musk will be the guest of the American show "Saturday Night Live". The entrepreneur shared the news on Twitter calling himself "Dogefather".

DOGE reached a new all-time high on May 4, surging over $0.6. Currently, the coin trades at above $0.62 with a market higher than $80.7 B. Presently, Dogecoin is the 4th largest cryptocurrency. DOGE's market dominance index surpassed 3%.

Crypto exchanges eToro and Gemini added the coin to their platforms.