New Delhi | Jagran Business Desk: Tesla chief executive officer (CEO) and SpaceX founder Elon Musk, who is the world's wealthiest man at present, on Sunday revealed that he invests in three cryptocurrencies -- Bitcoin, Ethereum, and Dogecoin. However, the Tesla CEO did not reveal how much he invests in cryptocurrencies.

"Out of curiosity, I acquired some ASCII hash strings called 'Bitcoin, Ethereum and Doge'. That's it," he said in a Tweet. "As I've said before, don't bet the farm on crypto! True value is building products and providing services to your fellow human beings, not money in any form".

In another Tweet, the 50-year-old SpaceX founder also termed Dogecoin as "people's crypto". Musk said that several people, who are not financial experts, at Tesla and SpaceX own Doge which is why he has decided to support it.

"Lots of people I talked to on the production lines at Tesla or building rockets at SpaceX own Doge. They aren’t financial experts or Silicon Valley technologists. That’s why I decided to support Doge – it felt like the people’s crypto," Musk was quoted as saying by Live Mint.

Musk on several occasions has commented on cryptocurrencies. On Sunday, he also helped Shiba Inu vault up the ranks of the largest cryptocurrencies by tweeting a photo of his puppy. However, he has clarified he does not hold Shiba Inu.

On Monday, Shiba Inu was down by 15 per cent from its all-time high. On the other hand, Dogecoin was up by nearly 24 per cent, according to pricing from CoinGecko.com.

Posted By: Aalok Sensharma