Dogecoin Approaches 75 Coins, Then Slips As Crypto Pioneer Silbert Seen Bet Against Parody Coin Ahead of Elon Musk’s Guest Host ‘SNL’ Concert

Dogecoin Approaches 75 Coins, Then Slips As Crypto Pioneer Silbert Seen Bet Against Parody Coin Ahead of Elon Musk’s Guest Host ‘SNL’ Concert

Call it the “dogefather” against the crypto godfather.

Barry Silbert, a leading player in the digital asset industry, has said he is betting against the DOGEUSD dogecoin,
and urges investors in one of the hottest trades of 2021 to convert their doge holdings into BTCUSD bitcoin,
+ 0,29%.

Silbert’s missive comes as CEO of Tesla Inc. TSLA,
+ 1,33%
and SpaceX and one of dogecoin’s most vocal champions, Elon Musk, is slated to host NBC’s late-night comedy show “Saturday Night Live.”

Check: As dogecoin price surpasses 60 cents, Elon Musk says ‘please invest with caution’ ahead of ‘Saturday Night Live’ guest host concert

Dogecoin fans are hoping the Tesla CEO can offer a bullish word or two on the doge, which was created in 2013 as a light bitcoin riff, but has now taken on a different meaning amid a close increase. of 14,000% of the value in 2021.

Some see assets as the perfect example of an asset bubble.

Musk, however, declared himself the father of the family on April 28, in front of the “SNL” spot.

Dogecoin’s moves have mostly been linked to Musk’s comments on social media in the past few weeks and months.

Silbert is considered a luminary in the digital asset world, having founded two of the most well-known companies in the crypto arena: Grayscale Investments, which operates the popular Grayscale Bitcoin Trust GBTC,
+ 3,71%
and the Digital Currency Group, which also owns CoinDesk. He was also an early investor in companies such as the Coinbase Global COIN trading platform,
+ 2,70%
and Ripple, a blockchain-focused startup behind the XRP XRPUSD cryptocurrency,
CoinTelegraph ranks Silbert 5th most important people when it comes to decentralized digital assets.

Lis: Dogecoin Price Breaking Moment Looms With Elon Musk Set To Host ‘Saturday Night Live’

Silbert’s tweet effectively creates a face-to-face meeting between billionaire investors.

Musk claims a net worth of $ 166 billion, while the DCG founder’s net is $ 1.6 billion, according to Forbes.

Doge’s devotees have very publicly set a target of $ 1 for the coin in 2021, a figure that may seem overwhelmingly modest at first glance, but not seen through the lens Doge traded for $ 0.005 on the last day of 2020. .

Even more bullish dogecoin holders, visualize their price targets at $ 5 and beyond.

The interest in dogecoin cannot really be overstated. In Google trends over the past week, it has eclipsed searches for COVID and coronavirus, and Elon Musk’s appearance on “Saturday Night Live” is all the rage on Twitter.

So far, the currency itself has seen a spectacular run against most other assets. GC00 gold futures,
+ 0,04%
are down 3% so far this year, the Dow Jones Industrial Average DJIA,
+ 0,66%
and the S&P 500 SPX Index,
+ 0,74%
are up nearly 13% in 2021, while the Nasdaq Composite Index COMP,
+ 0,88%
has gained about over 6% so far this year.

However, even Musk offered a warning note on Friday, suggesting that investors buy with caution.


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