Tesla CEO, Elon Musk, has warned cryptocurrency investors against investing their life savings in the currency, as according to him, such would be unwise.
Musk who is a major promoter of Dogecoin, noted that although it’s possible that cryptocurrencies will become the future currency of the earth, it still remains at the moment, within the realm of speculation.
The renowned engineer behind Space X, spoke to reporters in the United States as captured in a video shared by TMZ.
“I think people should not invest their live savings in Cryptocurrency.I mean, that’s unwise,” Musk said.
“But if you want to sort of speculate, that’s fine. There is a good chance that crypto is the future currency of the earth, and we are like, which is it going to be? But it should be considered as a speculation at this point, so don’t go too far.”
Cryptocurrency is promising, but please invest with caution! https://t.co/A4kplcP8Vq
— Elon Musk (@elonmusk) May 7, 2021