Elon Musk said during a video interview at the Qatar Economic Forum that he never told people to invest in crypto.
"Ech hunn ni gesot datt d'Leit a Krypto investéiere sollen."
The comment came in response to a question about the current state of the market and whether people should continue investing at this time.
Year-to-date outflows currently top $ 1.315 Billioun, with many altcoins down 90% from all-time highs. Last week, as Bitcoin sunk to an 18-month low, the Fear and Greed Index summed up the general sentiment (of extreme fear) as it hit 6.
Denied telling people to invest in crypto
Following his denial, Musk said he and his companies did buy Bitcoin. But, as a small percentage of total assets, the cash spent was money they could afford to lose.
"Am Fall vun Tesla, SpaceX, mir selwer, hu mir all e bësse Bitcoin kaaft, awer et ass e klenge Prozentsaz vun eise Gesamtkäschten."
He continued by saying he also bought Dogecoin, adding that Tesla accepts DOGE for merch, and “SpaceX will do the same.”
Musk explained his passion for Dogecoin as a favor to “people who are not that wealthy” that have asked him to support the meme token. He named these “not that wealthy” people like Tesla and SpaceX factory workers.
"Ech wëlle perséinlech Dogecoin ënnerstëtzen well ech just vill Leit kennen déi net sou räich sinn, déi mech encouragéiert hunn Dogecoin ze kafen an z'ënnerstëtzen. Also ech reagéieren op déi Leit."
It’s been over a year since Musk appeared on a Samschdes Night Live (SNL), in which he played the part of a financial expert explaining cryptocurrencies. During the skit, he said Dogecoin is a “hustle.”
DOGE plummeted immediately after and is currently down 81% since that appearance.
Musk accused of masterminding Dogecoin Ponzi scheme
A Dogecoin investor Keith Johnson recently filed a Prozess against Musk in a federal court in Manhattan.
The plaintiff is suing Musk for $258 billion on the grounds of running a Dogecoin pyramid scheme. Johnson claims the defendant manipulated the token price, leading to retail losses.
Johnson is seeking $ 86 Milliarden for damages due to the token price decline since the SNL appearance and wants the sum to be tripled.
Source: https://cryptoslate.com/elon-musk-denies-shilling-crypto-reaffirms-support-for-doge/