- He warned investors against investing in this asset
- And while the token ‘holds a special place’ in a billionaire’s heart, it remains highly volatile.
Yesterday, May 23, took place meeting board of directors of the WSJ. Among those present was Elon Musk, who unexpectedly warned investors about the risks of investing in Dogecoin.
According to him, traders definitely should not “rely” on this meme-coin. And while Dogecoin certainly remains its favorite, investing in this asset comes with high risks.
Previously, the billionaire repeatedly “pumped” the rate of some assets, including Dogecoin and, for example, the Milady NFT collection. In fact, this was the reason for the absurd lawsuit against the head of Tesla in the amount of $ 258 billion.
Speaking of which, Musk’s lawyers are petitioning for it to be overturned. Lawyers insist that “joking tweets” cannot be regarded as investment advice.
It is possible that Musk’s statement at the WSJ board meeting is a direct consequence of this lawsuit. Prior to that, he repeatedly allowed himself to “play the course” of tokens, for example, when Twitter changed its logo.
Why does Musk love Dogecoin so much, even though the asset is high-risk? “Humor and dog character” – that’s how the billionaire answered. Some members of the DOGE community are still waiting for Musk to add this meme-coin to Twitter.
Despite this, he still enjoys considerable influence in the community. The “Father of DOGE” has become a true icon for memecoin fans. But now, obviously, his “nimbus” will fade somewhat.