Elon Musk denies participating in the creation of a cryptocurrency pyramid scheme

Billionaire Tesla CEO Elon Musk said in a recent interview with Bloomberg that he has never encouraged people to invest in cryptocurrencies. However, he confirmed that he has some savings in bitcoin.

«I have never said that people should invest in cryptocurrencies. In the case of Tesla, SpaceX, and myself, we all bought some bitcoin, but it’s a small percentage of our total cash assets,» Elon Musk explained.

It seems that after Musk was accused of illegally promoting the Dogecoin cryptocurrency, the billionaire is trying to be more careful in his statements. As a reminder, Elon Musk and his companies Tesla and SpaceX were sued for $ 258 billion in connection with the promotion of the Dogecoin cryptocurrency. The plaintiff, Kate Johnson, believes that Musk and his companies have created a fraudulent scheme to artificially increase the value of Dogecoin.

Representatives of the cryptocurrency world are shocked by this case and supported Musk in the lawsuit. Recently, Billy Marcus (co-founder of Dogecoin) spoke out in his defense and said that he considers such cases to be stupidity. Binance CEO Changpeng Zhao has a similar opinion.