Elon Musk, a cryptocurrency supporter, became SNL’s Dogecoin

Guest starring … pic.twitter.com/buM3bTOWbX

— Elon Musk (@elonmusk) May 7, 2021

 With the price of Dogecoin rising, investors are looking forward to Musk’s cameo on this weekend’s “Saturday Night Live” comedy sketch television show after tweets from the billionaire this year turned the digital currency a dark time on speculators. A dream come true. 

musk

The Tesla CEO will host the expo on Saturday (9 a.m. EST Sunday) at 11:30 p.m. EST (Sunday GMT). This moment brought Musk, also known as a cryptocurrency fanatic, back into the spotlight, just as Tesla shares lost momentum after last year’s monstrous rally.

Musk is a rare business mogul who hosts this old comedy TV show. The unconventional CEO posted a lot of comments about cryptocurrencies on Twitter and criticized conventional cash for negative real interest rates. He said in February: “Only fools will not look elsewhere.” His mysterious tweets that month “Doge” and “Dogecoin is the people’s cryptocurrency” kicked off the Dogecoin rally. This is a more conventional Bitcoin joke. 

Musk wears a black headscarf. This week he joked with music guest Miley Cyrus in the show’s promo video: “I’m a wild card, I didn’t say what I should do.” “Same as here,” Cyrus said. “The rules? No thanks,” Musk tweeted Thursday: “Cryptocurrencies are promising, but invest carefully!” He attached a video clip and said: “At this point, it should be considered a guess. So, you know, don’t go too far into cryptocurrency speculation. But he also said in the video that cryptocurrency has a ‘good chance’ to become what he calls ‘the future currency of the earth. After tweeting, Dogecoin went up,” a person yelled at Musk in the video. 

On the encrypted data tracker CoinGecko.com, Dogecoin jumped more than 800% last month and has become the fourth-largest digital currency with a market value of US $ 81 billion (approximately 59.3 trillion rupees). . ). It was up almost 14% last day to $ 0.62 (roughly Rs 46). It has replaced the most widely used cryptocurrencies, such as Litecoin and Tether.

In recent months, the game has worked. “David Kimberley, an analyst at investment app Freetrade, said. Elon Musk’s launch of the token on US primetime television tomorrow will likely only complicate matters and drive up prices.” Tesla said in February that it had bought $ 1.5 billion (roughly Rs 1,098,800,000). ) worth Bitcoin and will soon accept it as a payment method for its electric cars, a big step towards mainstream acceptance, pushing Bitcoin to a record high of nearly $ 62,000 (roughly Rs 4,541,000). Shares of Tesla closed up 1.3% at $ 672.37 (approximately Rs 49,300). on Friday.

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