• Sat. Jun 22nd, 2024

Elon Musk is now Advising Caution for Cryptocurrency

Christian Klausen

ByChristian Klausen

May 9, 2021
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Cryptocurrency is a concept that has transcended into something that is much more viable and tangible than its early days. Today people don’t dream about decentralization as they have it by every inch of its throat in terms of blockchain systems, infrastructure for various cryptocurrencies, and even the NFTs that are rolling out in today’s world at a blazing speed. Elon Musk, the CEO of both Tesla and SpaceX, has always been an admirer of cryptocurrency, what it holds for the people in terms of being accurate, and just but more importantly, the very financial revolution that it has marched down to our steps.

Crypto might be the Future, but at Present, the Volatility is not Right for Everybody

His tweets about Bitcoin, Ethereum, and even Dogecoin are flattering and an influence for other people to consider even in the minutest capacity to think about crypto and if they have the necessary capital, then maybe even investing into it. But at present, the teachings of Elon Musk are a little off-throwing and confusing as he is advising people not to invest in crypto, not to everyone per se but to a special class and maybe for their own benefit.

It is an open secret that the crypto market is full of volatility, and it doesn’t matter what the present numbers are; tomorrow is definitely going to be different for these digital commodities. The volatility factor is so high in here that a cryptocurrency soaring high a day ago might be taking a hard fall into the ground the very next day. Amid all these volatilities and haphazard manner, Musk has advised people to be cautious of what they trade-in and how much they are willing to trade, and those who only have their life savings to wager should stay away from cryptocurrency. 

He is not removing the possibility out of the table that crypto might be the future’s ultimate currency, but at present, it is not even slightly near to making it mainstream. Musk has been rolling out tweets after tweets regarding his affection and support for Dogecoin, but he advised others to be cautious with crypto investment; what a solid move to make and a genuinely cautious one too.      

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Christian Klausen

Christian Klausen

Christian Klausen is a talented news writer renowned for his compelling storytelling and comprehensive research. With a sharp eye for detail, his articles offer readers a thought-provoking and well-informed perspective on a wide range of current topics.

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