Elon Musk drops a one-word message for all cryptocurrency investors

Tesla and SpaceX CEO Elon Musk is a vocal supporter of the cryptocurrency Dogecoin. The richest person in the world has endorsed cryptocurrency, directly or indirectly, several times in recent months.

Now, Musk has spoken again regarding Dogecoin. He has a message for all cryptocurrency investors.

The message came in response to a tweet from Bill Lee, a founding partner of West Coast Holdings, who is also an investor in some of Elon Musk's companies.

Lee himself was responding to a tweet talking about an encryption gateway called MyDogeWallet, which was talking about his vision to "break dependency on CEX as binance and robinhood and let #shibes take custody of their own coins" .

In response to this tweet, which was talking about reducing dependence on cryptocurrency trading platforms, Lee wrote, "not your keys, not your crypto."

Responding to Lee's tweet, Musk wrote his mind in one word: "Exactly."

Exactly - Elon Musk (@elonmusk) November 24, 2021

The expression "neither your keys, nor your cryptocurrencies" is actually a popular expression in the world of cryptocurrencies called "neither your keys, nor your coins", where serious investors prefer to keep the private keys associated with their assets or funds because they do not have a private key. it means that an investor is entrusting a third party to keep their assets safe.

Elon Musk has previously voiced his views on the way cryptocurrency exchanges manage assets owned by retail investors. Musk appears to be endorsing the idea of ​​breaking retail investors' reliance on exchanges to buy and hold their cryptocurrencies.