Elon Musk Calls Dogecoin a Hustle and the Future of Currency That’s ‘Going to Take Over the World’ on SNL
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Elon Musk has become the latest high-profile person to laud cryptocurrency and specifically Dogecoin. The Tesla CEO shared his thoughts on the meme-inspired cryptocurrency during a recent appearance on Saturday Night Live. When Musk was asked by SNL cast member Michael Che what he would name a currency that could be used in the event of a zombie apocalypse, he said he’d call it “Dogecoin” without hesitation.
Elon Musk may be the most famous proponent of cryptocurrency and Blockchain technology, but he seems to think Dogecoin is a bit of a joke. Musk appeared in a sketch on Saturday Night Live over the weekend and was asked to comment on Dogecoin, a cryptocurrency that was created as a parody of Bitcoin. “I think it is a good thing that people are experimenting with cryptocurrency,” Musk said. But when asked about Dogecoin, he said, “There’s a lot of scams, and there’s a lot of, like, pseudo-intellectual nonsense. I think it’s a super silly thing.”
The dogecoin is in full swing this weekend, between Elon Musk’s appearance on Saturday Night Live (SNL) and Spacex’s announcement of its DOGE-1 mission to the moon. Musk called dogecoin a hype show, but he also said it was the future currency that would take over the world.
Dogecoin is an unstoppable financial vehicle that will take over the world, Musk said on SNL.
The highly anticipated episode of SNL with Elon Musk and musical guest Miley Cyrus aired last night. During his speech, Musk mentioned cryptocurrencies and Dogecoin several times.
The first mention was during his monologue when he was accompanied by his mother, Maye. I’m happy with this Mother’s Day gift. I hope it’s not Dogecoin, she told her son. The Spacex CEO replied: Yes. That’s for sure.
Then, during a satirical Weekend Update segment on SNL, Musk returned as a financial expert named Lloyd Ostertag. As soon as he sat down at the table with host Michael Che, he said: Call me Dogfather, a term he used earlier in his tweet.
Che asked the expert to continue: What are crypto-currencies? Musk replied as Lloyd Ostertag:
It’s a kind of digital currency. But instead of being controlled by the central government, they are decentralized via blockchain technology….. And lately, the prices of cryptocurrencies like Bitcoin, Etherium and especially Dogecoin have skyrocketed.
During the SNL show, however, DOGE was not pumped up. Indeed, the price of the cryptocurrency meme fell nearly 30% to 43 cents before rebounding slightly, according to markets.Bitcoin.com. The cryptocurrency trading app Robinhood was also experiencing outages at this time, possibly due to the heavy selling of DOGE. According to the company, the outage lasted less than an hour.
The price of Dogecoin during Saturday Night Live. Source: Markets.Bitcoin.com.
Next, financial expert Lloyd Ostertag was interviewed: What is dogecoin? Tesla’s tech king explains: It started as a joke, based on an internet meme, but it became very real….. It was founded in 2013 and has a turnover of 117 billion coins, of which 113 billion have already been mined.
However, the circulating stock of DOGE coins is slightly larger than 129.53 billion coins, and there is no limit to the potential issuance of coins.
Still searching for what Dogecoin was, Che pulled a dollar bill from his pocket and said to Mask/Ostertag: It’s a dollar, and it’s real, to which Musk responded with something like. Musk went on to say that dogecoin is about as real as the dollar, adding:
This is the future of money. It is an unstoppable financial machine that will take over the world.
However, Che still didn’t understand what dogecoin was and asked again what it was. Musk/Easter Day repeated: Again, it’s a crypto-currency that can be exchanged for regular money.
Che replied: Oh, it’s vanity. Musk then responded with a laugh: Yeah, it’s a fight. Before the segment ended, the Tesla/ostertag CEO shouted: A muni.
After SNL, Musk’s company Spacex announced it would launch DOGE-1 to the moon, which would be the first commercial lunar payload paid for entirely by DOGE. It will be launched aboard a Spacex Falcon 9 rocket.
Do you agree with Elon Musk that dogecoin is not just fun, but a currency that will take over the world? Let us know your comments in the section below.
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Frequently Asked Questions
What did Elon Musk say about Dogecoin?
You might have heard of Dogecoin, the cryptocurrency that started as a joke but ended up worth hundreds of millions of dollars. However, you might not be familiar with the man behind the coin: Elon Musk, the multibillionaire who wants to do for space travel what Dogecoiners have already done for the internet. You might know Musk as the founder of Tesla and SpaceX, the innovative companies that have changed the way we think of electric cars and private space travel. In addition to his day job, Musk also runs a side project called Neuralink, which aims to connect our brains to computers, and OpenAI, which is working to create artificial intelligence that can make ethical decisions. However, what’s Elon Musk is an incredibly forward-thinking person, with a strange and unique sense of humor. So it shouldn’t come as a surprise that he is also an active user of cryptocurrency. Here’s what he said about Dogecoin: “Wow. Much cryptocurrency. Very Ethereum. Soon Dogecoin, much moon.”
Is Dogecoin a hustle?
Dogecoin is a cryptocurrency based on a joke meme. Despite this, it has developed a surprisingly strong community, and is seeing increasing use in transactions, even being accepted by one cryptocurrency exchange. For a currency that started as a joke, this is a remarkable achievement. However, this success is not without criticism: some have suggested that although the community’s heart is in the right place, the currency itself is a scam, being used to pump and dump Dogecoins for profit. The community has vociferously denied this claim, but it remains to be seen if they will be able to keep the currency’s value high as more people invest in it. is dogecoin a hustle? It seems like every day there’s a new cryptocurrency. Like, seriously. There are more than 1000 cryptocurrencies out there, and they’re all vying for attention. They’re trying to out-compete one another with giveaways, contests, and big promises of faster transactions and greater security. Dogecoin is a fun example of a currency that initially started as a joke but built a huge community behind it.
Did Elon Musk talk about Dogecoin on SNL?
The world of cryptocurrency is in a frenzy right now, and even the media can’t keep up with all of the stories of this new digital currency. While bitcoin and other alt coins have been the most popular digital currencies, dogecoin has also been making headlines. It was created by programmer Billy Markus from Portland, Oregon, who hoped to create a fun cryptocurrency that could reach a broader demographic than bitcoin. The cryptocurrency started being widely used in late 2013 and has since become one of the most prominent alternative cryptocurrencies. It was an exciting weekend for both the crypto-currency and the comedy worlds. On Saturday, Elon Musk appeared as a guest on Saturday Night Live. During the show, Elon Musk responded to a question about bitcoin by saying that he thinks it’s a good idea. However, it wasn’t until the end of the episode that the crowd learned that he was talking about dogecoin.