What happened: Novogratz told CNBC’s Squawk Box program that “there is something pure about what Dogecoin has done. “
“It’s a middle finger for the system. People are not happy with the current financial system. They simply are. The cryptocurrency bull reiterated that it would be “very dangerous” to run out of DOGE.
Novogratz does not “participate on the long side either,” seeing him as just as dangerous. “Because once that enthusiasm dies, if it dies, you could have a long way to the bottom,” he noted.
Year-to-date DOGE has risen 13,746.78%, beating the year-to-date returns of the two largest cryptocurrencies by market cap – Bitcoin (BTC) and Ethereum (ETH).
See also: How to buy Dogecoin (DOGE)
BTC has risen 96.99% since the start of 2021 and ETH has appreciated 374.84%.
At press time, DOGE traded 12.18% higher at $ 0.64 in a 24 hour period. BTC traded 3.82% higher at $ 56,846.82 and ETH traded 4.46% higher at $ 3,467.23.
Why is this important: On Wednesday, Novogratz’s Galaxy Digital Research released a report titled “Dogecoin: The Most Honest Sh * tcoin. “
The report takes into account a variety of metrics and pits DOGE against BTC to conclude that the Shiba Inu-themed cryptocurrency has “remarkably strong fundamentals and powerful forces supporting its rise.”
Galaxy Digital praises the piece for its honesty and calls it an “admirable project”.
DOGE’s latest surge is fueled by the social media buzz and the upcoming appearance of Tesla Inc (NASDAQ: TSLA) Le PDG Elon Musk sur «Saturday Night Live».
What else: Galaxy Digital Holdings, led by Novogratz, announced on Thursday that it will acquire BitGo, a digital asset financial services company, in a cash and stock deal with a total transaction value of nearly $ 1. , $ 2 billion, based on Galaxy Digital’s closing share price on Tuesday.
Read more: Could Elon Musk’s SNL Hosting Pool Dogecoin price with profit reservation?
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