Elon Musk has one piece of advice for those who own Dogecoin cryptocurrency, a meme coin that drew inspiration from a Shiba Inu meme.
Tesla chief executive Elon Musk hasn’t shied away from showing faith in Dogecoin. Now, the 50-year-old business magnate has some crucial advice for Dogecoin owners.
Elon Musk Has An Advice For Dogecoin Owners
Responding to the founding partner at West Coast Holdings, Bill Lee, The Boring Company founder admitted that users should not consider the holdings as “their own,” till the wallet keys are in their possession, per News18 report.
In his one-word response to a tweet from Lee, Musk wrote, “Exactly.” Lee had said, “not your keys, not your crypto.” Lee, who is also an investor in Musk’s companies, was responding to a tweet from a Twitter user who goes by the name @MyDogeCTO.
“The core focus of the @MyDogeOfficial vision is to break the dependence on CEXs like binance and robinhood and let #shibes take custody of their own coins!”
Elon Musk’s One-Word Response
In his response to the aforesaid tweet from @MyDogeCTO, Lee replied saying, “not your keys, not your crypto.” However, Musk did not elaborate on his response.
— Elon Musk (@elonmusk) November 24, 2021
It is no secret that Musk supports those who hold their own assets. He is not a supporter of people who allow exchange Binance and Robinhood to handle it. Moreover, hackers are more likely to target big exchanges.
To recall, Robinhood announced earlier this month that its servers were breached by an unauthorized third party. Musk has previously advised Dogecoin owners to hold their coins. He expects its value to shoot up “to the moon.”