Buying Dogecoin “Crossed My Mind”

AnalysisBuying Dogecoin "Crossed My Mind"



Alex Dovbnya

Digital Currency Group CEO Barry Silbert seems to have warmed up to the leading meme coin

Digital Currency Group CEO Barry Silbert recently tweeted that buying Dogecoin, the meme cryptocurrency, had crossed his mind. 

Some Bitcoin maximalists implored Silbert, one of the most influential people in the cryptocurrency industry, to stay away from the joke cryptocurrency. 

Dogecoin co-founder Billy Markus said that he likes dogs and memes in response to a tweet posted by Silbert. 

As reported by U.Today, Silbert tweeted that he had shorted Dogecoin on the cusp of Elon Musk’s “Saturday Night Live” hosting debut that took place on May 9. He bought an undisclosed number of 3x leveraged short tokens on the FTX exchange, promising to donate all profits to “financial education and Bitcoin-related causes.” 

Silbert’s tweet marked the top of Dogecoin’s massive rally that turned many heads in 2021. Shortly after reaching a market cap of $90 billion, the Bitcoin parody crashed back down to earth. Some members of the community even started blaming the crypto billionaire for puncturing the bubble.

The DCG boss claimed that Dogecoin was overvalued, claiming that Dogecoin didn’t have any utility.

Earlier today, the price of Dogecoin soared more than 15% on the reports that Musk was inching closer to acquiring Twitter. The social media giant is expected to announce its record-breaking deal with the centibillionaire on Monday. Prior to that, Musk bought a 9% stake in the social media platform.

The Tesla CEO recently indicated that Dogecoin would be accepted for Twitter Blue premium subscriptions.

On Sunday, Musk also suggested that using the meme cryptocurrency for tipping creators would be a “nice” way of boosting its utility.       



Learn more

Latest news

XRP Lost 50% of What It Gained in Last 12 Days, Here’s Main Reason Why

Arman Shirinyan XRP is losing most of its gains, and upward reversal remains unlikely scenario Contents Half of what has been...

Cardano (ADA) to Start Trading on Japan’s Bitbank Exchange

Alex Dovbnya Yet another Japanese exchange is on track to add support for the Cardano (ADA) cryptocurrency Tokyo-based cryptocurrency...

GSBN Adopts Blockchain to Share Shipping Data with Financial Insitutiotns

Within 20 minutes, Global Shipping Business Network (GSBN) is able to undertake a pilot transaction of unifying the...

First Mover Asia: Bitcoin Holds Strong Over $19K; Why Is the Dollar Dominating?

The largest cryptocurrency by market capitalization has weathered severe macroeconomic uncertainty in recent weeks to maintain its current...

SHIB Burn Rate Surges 103% as Mysterious Wallets Destroy Enormous Sum in Shiba Inu

Yuri Molchan Shiba Inu community has disposed of another large amount of SHIB, pushing burn rate high Shibburn tracking service...

Must read

XRP Lost 50% of What It Gained in Last 12 Days, Here’s Main Reason Why

Arman Shirinyan XRP is losing most of its gains,...

Cardano (ADA) to Start Trading on Japan’s Bitbank Exchange

Alex Dovbnya Yet another Japanese exchange is on track...

You might also likeRELATED
Recommended to you