On Thursday, Musk tweeted: "Cryptocurrency is promising, but please invest with caution!" with a video clip attached in which he said, "it should be considered speculation at this point."īut he also said, in the video, that cryptocurrency has a "good chance" of becoming what he called "the future currency of the Earth." His cryptic tweets "Doge" and "Dogecoin is the people's crypto" that month kicked off a rally in dogecoin - created as a parody on the more mainstream bitcoin and ethereum.
"Only a fool wouldn't look elsewhere," he said in February. The unconventional CEO has posted numerous comments about cryptocurrencies on Twitter and criticized regular cash for having negative real interest rates. His appearance on the iconic late night show puts Musk back in the spotlight just as Tesla's stock is losing steam following last year's monster rally. Musk is the rare business mogul to have been asked to host the venerable comedy TV show. When a show cast member Michael Che countered, "So, it's a hustle?", Musk replied, "Yeah, it's a hustle," and laughed. It's an unstoppable financial vehicle that’s going to take over the world."
Cryptocurrency enthusiasts had for days been eager to see what he would say, after his tweets this year turned the once-obscure digital currency, which began as a social media joke, into a speculator's dream.Īsked 'what is dogecoin', Musk replied, "It's the future of currency.