'I Have Never Said That People Should Invest In Crypto': Elon Musk Discusses Cryptocurrency And His Support For DOGE

Musk’s latest comments came a couple of days after he tweeted that he will continue to support and buy Dogecoin.

Musk has been a strong supporter of cryptocurrencies, especially Dogecoin.

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Elon Musk, the billionaire CEO of Tesla and SpaceX, has been a steady supporter of cryptocurrencies, often coming out in support of Dogecoin (DOGE) on Twitter. His continuous support for DOGE even earned him the moniker of “Dogefather” from the crypto community. In a recent interview, Musk discussed crypto investing and said, “I have never said that people should invest in crypto.” Musk has always spoken about his own holdings of crypto coins, or the crypto holdings of his companies. However, he has never really bluntly advised his followers to put their money on any specific crypto.

Speaking with Bloomberg News Editor-in-Chief John Micklethwait at the Qatar Economic Forum on Tuesday, Musk said, “I have never said that people should invest in crypto. In the case of Tesla, SpaceX, myself, we all did buy some Bitcoin, but it’s a small percentage of our total cash assets.”

Musk had earlier revealed that he does own Ether (ETH) and DOGE personally. He went on to mention that Tesla does accept DOGE for some merchandise and SpaceX will start accepting DOGE as well soon.

Musk said, “I just know a lot of people who are not that wealthy who, you know, have encouraged me to buy and support Dogecoin. I’m responding to those people.”

Musk’s latest comments on crypto came a couple of days after he tweeted that he will continue to support and buy Dogecoin.

ALSO SEE: 'Dogefather' Elon Musk Says He Will Keep Supporting And Buying Dogecoin

Musk’s tweets and comments on DOGE have often resulted in a huge surge in DOGE prices, which would often be followed by a steep plunge in the crypto coin’s value soon after. This has often drawn the ire of many users on social media, who blamed Musk for promoting the digital coin only to drive up its prices, adding to the overall volatility of DOGE.

ALSO SEE: Elon Musk Sued By Dogecoin Investor For $258 Billion Over Alleged Pyramid Scheme

On June 16, US-based investor Keith Johnson sued Musk for $258 billion, accusing him of promoting DOGE, helping drive its price up only to let the value tumble soon after. Claiming to have lost money after investing in Dogecoin, Johnson described himself as an "American citizen who was defrauded" by what he called a "Dogecoin Crypto Pyramid Scheme."

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