Broker Check
Dogecoin

Dogecoin

| May 10, 2021
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The cryptocurrency ‘Dogecoin’ (which started out as a joke by IBM software engineer Billy Markus and Adobe software engineer Jackson Palmer) has passed a market cap of over $75 billion—more valuable than the iconic Ford Motor Company.  (By the way, Jackson Palmer says the correct pronunciation is “dohj coin”).  After this weekend’s appearance on Saturday Night Live by populist Dogecoin promoter and Tesla CEO Elon Musk (during which he joked Dogecoin was a “hustle”), Dogecoin fell from a pre-SNL high of 72c to as low as 43c but had rebounded to 57c as of mid-Sunday evening.  Whatever its merits or demerits, Dogecoin is certainly the most valuable joke in the known universe!  (Chart from chartr.co)

Jeffrey Cerny

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