Elon Musk has claimed he wasn’t advising anyone to invest in crypto or go heavily into Dogecoin, warning against "betting the farm on Dogecoin."
Speaking at the Wall Street Journal’s CEO Council Submit, Musk said he likes the token because “it has dogs.”
Musk has had a long relationship with dogecoin, and has offered to work with its developers to make it more suitable for wider adoption. He even followed through with his commitment to temporarily turn the Twitter logo into a dogecoin image after buying the company.
Last week, Binance CEO Changpeng Zhao expressed surprise that dogecoin had not yet faded away and said Musk might have played a role in extending the memecoin’s lifespan.