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Elon Musk Says Cryptocurrency Is ‘Promising’, Warns to ‘Invest With Caution’ Ahead of SNL Appearance

The founder of Tesla and SpaceX, Elon Musk, is a vocal advocate of cryptocurrency, being especially supportive of ‘dogecoin’ – a crypto based on a shiba inu dog meme that was created ironically.

Elon Musk on Friday took to Twitter to comment on cryptocurrency again, sharing a YouTube video with his remarks on crypto and adding that although it is “promising”, one should “invest with caution”.

“People should not invest their life savings in cryptocurrency, to be clear,” Musk is heard saying in the TMZ video. “That’s unwise.”

He clarified that if one wants to “speculate” and “have fun”, they can take a chance “that crypto is the future currency of Earth.”

“Then it’s like, which one is it going to be? Maybe there will be multiple. But, it’s all speculation at this point”, Musk said.