The Value of Dogecoin

So, Elon Musk was on Saturday Night Live last weekend and basically made fun of the cryptocurrency #Dogecoin, a digital asset that he has promoted previously on Twitter.

What’s the market to think?

It’s instructive to listen to the explanation of Changpeng Zhao, the Chief Executive Officer of Binance, when he tries to explain the use case for Dogecoin.

Remember, his job is to drive traffic to his cryptocurrency exchange platform so it can rake in the fees from the transactions.

The use case for him (paraphrasing here, but watch the video for yourself) is that anyone can promote any coin they want (on Binance, of course) and that although some people say that a use case means value, but “in a freedom driven world, even memes have value.”

Really?

I guess the answer is you just gotta believe.

Source: https://jeffkoeppel.wordpress.com/2021/05/10/the-value-of-dogecoin/