Musk: "Cryptocurrency is Promising but Investments Should Be Made Cautiously"

[Image source=Yonhap News]

[Asia Economy Reporter Buaeri] Elon Musk, CEO of Tesla, who stirred a frenzy in the market by posting support for virtual currency, stated on the 7th, "Invest cautiously."

On that day, Musk tweeted, "Virtual currency is promising. But I hope you invest with caution," attaching a video of one of his interviews.

In the video posted by U.S. entertainment media TMZ, Musk said, "Virtual currency has a good chance of becoming the currency of the future," but also added, "For now, it is speculation. You should not invest essential funds in virtual currency. That is not wise."

Earlier, after Musk tweeted support for the cryptocurrency 'Dogecoin' (DOGE) last month, the price of this asset surged more than 20% in one day.

He also announced at the end of March that Tesla cars could be purchased with Bitcoin.