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Elon Musk dogecoin tweets worry bitcoin bulls Carter and Novogratz

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Tesla CEO Elon Musk and other celebrities have posted multiple tweets backing dogecoin lately — and some in the cryptocurrency world aren’t impressed.

Nic Carter, a venture capitalist known for his bullish stance on bitcoin, thinks Musk’s enthusiasm for the meme-inspired digital token is “disconcerting” as it’s mainly used as a “vehicle for speculation.”

“Unfortunately a lot of retail punters are going to lose money on dogecoin in the long term because there’s really not much there in terms of interesting technology,” Carter, co-founder of Castle Island Ventures and data firm Coin Metrics, told CNBC’s “Street Signs Europe” on Wednesday.

“The only thing it can really do is be zombified and…



Source cnbc.com

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