VIDEO: Musk, Dogecoin, and Other Tales from the Crypt
Welcome to my special video presentation on cryptocurrency investing. The article below is a condensed transcript of my remarks.
Well, we got some startling news on Tuesday: Elon Musk, CEO and founder of electric vehicle maker Tesla (NSDQ: TSLA), said his company will accept Dogecoin (DOGE) as payment for merchandise on a test basis.
The cryptocurrency Dogecoin was launched in 2013, as a parody of Bitcoin (BTC). Doge is Japanese slang for “dog.” Dogecoin tokens feature the image of a Shiba Inu dog, an Internet meme.
Dogecoin has no mainstream commercial applications. It’s used for tipping online. Interest in Dogecoin grew through social media. On Tuesday, Dogecoin jumped about 20% on the news from Musk and its value currently hovers at $25 billion, for an “altcoin” that started as a joke. Something is wrong here.
To be sure, cryptocurrency is an investment phenomenon that can’t be ignored. However, I’ll show you the smart way to profit from the crypto craze.
The celebrity CEO…
Wall Street is perpetually preoccupied with the antics of Elon Musk, who is currently worth about $297 billion (that’s not a typo), which makes him the wealthiest person on the planet.
Musk, whose face graces the latest cover of Time magazine as “2021 Person of the Year,” is an outspoken cryptocurrency fan. (He has dubbed himself “The Dogefather.”) His tweets have the power to dramatically move crypto, and the…