Elon Musk, who helped fan the flames of the huge 2021 bitcoin and crypto bull run, has said he wouldn't advise 'anyone to buy crypto.'
... [+]"I'm not advising anyone to buy crypto or bet the farm on dogecoin," Musk’s CEO Council Summit in London."Maybe you should, but let me advise you that would be perhaps unwise."
However, Musk added that dogecoin, a bitcoin-like cryptocurrency that was originally created as a"joke," is still his favorite cryptocurrency because it has"the best humor" and"it has dogs." In April, Musk followed through with a promise he made before buying Twitter, changing its logo to that of dogecoin's shiba inu dog breed, giving the dogecoin price a short-lived 20% bump.
Dogecoin has crashed back even harder than bitcoin and ethereum since hitting its all-time high price, currently down around 90% compared to bitcoin's and ethereum's 60% price declines. The dogecoin price peaked the day before Musk's appearance on U.S. comedy show Saturday Night Live in 2021 as dogecoin mania reached fever pitch.
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