{"id":245615,"date":"2021-05-07T19:09:40","date_gmt":"2021-05-07T16:09:40","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/elon-musk-warns-people-to-invest-with-caution-before-snl-debut\/"},"modified":"2021-05-07T19:09:40","modified_gmt":"2021-05-07T16:09:40","slug":"elon-musk-warns-people-to-invest-with-caution-before-snl-debut","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/elon-musk-warns-people-to-invest-with-caution-before-snl-debut\/","title":{"rendered":"#Elon Musk warns people to ‘invest with caution!’ before ‘SNL’ debut"},"content":{"rendered":"

“#Elon Musk warns people to ‘invest with caution!’ before ‘SNL’ debut<\/strong>”<\/p>\n

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Dogecoin-booster Elon Musk warned investors to be wary of cryptocurrencies ahead of his \u201cSaturday Night Live\u201d debut this weekend.<\/p>\n

\u201cCryptocurrency is promising, but please invest with caution!\u201d the Tesla CEO tweeted<\/a> early Friday morning.<\/p>\n

Musk, who has over 53 million Twitter<\/a> followers, tweeted alongside a video<\/a> from February obtained by TMZ in which Musk tells the outlet, \u201cFirst of all, I think people should not invest their life savings in cryptocurrency to be clear. I think that\u2019s unwise.\u201d<\/p>\n

He added that \u201cthere\u2019s a good chance\u201d crypto becomes the main currency on Earth, but no one knows which digital coin will become the most prolific. He added that putting money in it \u201cshould be considered speculation at this point.\u201d<\/p>\n

\"Elon
Elon Musk said he thinks it\u2019s \u201cunwise\u201d for people to \u201cinvest their life savings in cryptocurrency.\u201d<\/figcaption>
Gotham\/GC Images<\/span><\/figcaption><\/figure>\n

The rare investment warning from Musk comes as the price of Dogecoin \u2014 a cryptocurrency represented by a Shiba Inu meme \u2014 has soared to about 60 cents per token, according to CoinDesk data. It\u2019s up a whopping 10,400 percent since Jan. 1, CoinDesk data shows.<\/p>\n

The soaring price of Dogecoin in recent weeks has come as Musk prepares for his \u201cSNL\u201d debut, which he announced in a tweet<\/a> on April 28, \u201cThe Dogefather SNL May 8.\u201d<\/p>\n

\"Elon
Elon Musk and his girlfriend Grimes head to dinner in Manhattan, ahead of the Tesla CEO hosting \u201cSaturday Night Live.\u201d<\/figcaption>
Gotham\/GC Images<\/span><\/figcaption><\/figure>\n

Some analysts have speculated that anticipation of his app<\/a>earance on the show is sending the price of Dogecoin higher.<\/p>\n

\u201cDogecoin is surging because many cryptocurrency traders do not want to miss out on any buzz that stems from Elon Musk\u2019s hosting of Saturday Night Live,\u201d Edward Moya, senior market analyst at Oanda, wrote on Tuesday<\/a>.<\/p>\n

\"\u201cCryptocurrency
Tesla CEO Elon Musk warned people to be cautious when investing in cryptocurrency.<\/figcaption><\/figure>\n

Musk has touted Dogecoin on Twitter for months, prompting other celebs to join in as well. Musk tweeted<\/a> in December, \u201cOne word: Doge.\u201d And he also changed his Twitter bio at the time to read, \u201cFormer CEO of Dogecoin.\u201d The price of the digital coin rose about 20 percent afterward.<\/p>\n

He was at it again in February. He tweeted an image<\/a> of a rocket on its way to the moon followed by another tweet that read simply, \u201cDoge.\u201d He followed it up a couple hours later with another series<\/a> of tweets touting the crypto.<\/p>\n

The price of Dogecoin shot up about 50 percent following those tweets, though Musk has insisted his comments about the digital token are jokes.<\/p>\n

Other celebrities have also begun to tweet about Dogecoin.<\/p>\n

Musk has also put the support of this electric vehicle company Tesla behind cryptocurrencies, though not Dogecoin.<\/p>\n

\"The
The value of Dogecoin has soared as Elon Musk has been tweeting about the cryptocurrency for months.<\/figcaption>
Yuriko Nakao\/Getty Images<\/span><\/figcaption><\/figure>\n

In February, Tesla announced that it had purchased $1.5 billion worth of Bitcoin and would accept the crypto as payment for its cars. The digital token quickly hit an all-time high.<\/p>\n

In April, the company disclosed that its Bitcoin holdings had risen to nearly $2.5 billion even after it made about $100 million from selling some of its Bitcoin.\n <\/p><\/div>\n