Tech mogul Elon Musk is one of Dogecoin’s biggest fans and frequently tweets about the cryptocurrency, which consistently spikes its price.
The cryptocurrency, which was originally created as a parody, most recent spike within the past week was 95.76%, according to real time data tracked by CoinMarketCap (Note: market capitalization is constantly changing). One Dogecoin is currently worth $0.63, compared to $0.5 just last month.
Now, the Tesla CEO has made his “Saturday Night Live” debut, causing Dogecoin traders to host watch parties for the “market-moving event,” according to a report by Bloomberg. Musk has also branded himself to be “The Dogefather” on Twitter.
Here’s everything you need to know about Musk’s connection to Dogecoin:
How much did Elon Musk invest in Dogecoin?
It’s unclear how much Musk has invested in Dogecoin.
Why does Elon Musk like Dogecoin?
Musk is a fan of the cryptocurrency because “he likes jokes,” and he’s “a fun guy, and he likes memes, and “doge” is the perfect target for it,” according to Spencer Bogart, a general partner at Blockchain Capital, in an interview with Bloomberg.
Where can I buy Dogecoin?
You can purchase Dogecoin from Binance and Kraken. Currently, Coinbase does not support Dogecoin, but you can add it to you cryptocurrency wishlist. Once you sign up for Coinbase, you’ll also receive $5 worth of Bitcoin for free once you verify your ID. If you want to educate yourself on cryptocurrency prior to purchasing, you can always enroll in an online course. The following platforms offer courses: Coursera; LinkedIn Learning and Udemy.
Dogecoin was created in 2013 by Adobe employee Jackson Palmer and software engineer Billy Markus, according to a report by CoinDesk. It’s a play on the popular internet meme of a Japanese Shiba Inu branded as “doge.” Its non-serious vibe caused it to become a hit and attract a huge following.
If you’re interested in investing in other cryptocurrencies such as Bitcoin, Ethereum, Tether and Litecoin, here are some options to get you started.
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Nicolette Accardi can be reached at naccardi@njadvancemedia.com. Follow her on Twitter: @N_Accardi. Find NJ.com on Facebook. Have a tip? Tell us. nj.com/tips
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How much did Elon Musk invest in Dogecoin? Why does Elon Musk like Dogecoin? Where can I buy Dogecoin? - NJ.com
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