Tuesday, April 13, 2021

Tesla CEO Elon Musk wants Coinbase to list Dogecoin.

The Takeaway:

Tesla CEO Elon Musk thinks US-based crypto exchange giant Coinbase should list meme-based crypto Dogecoin on its platform.

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When Tesla CEO, crypto bull, and Coinbase user Elon Musk was asked about whether Coinbase should list Dogecoin on its platform or not, he replied with “Yes!” One of the world’s richest men, Musk is no stranger to crypto. In early February, a US Securities and Exchange Commission filing disclosed that Tesla had bought $1.5 billion in Bitcoin. Before that, Elon had frequently been pumping meme coin DOGE to the point where a single Dogecoin meme tweet caused a surge of almost 40% in the currency’s price in just half an hour.

 

Elon supported Dogecoin as a joke. 

Dogecoin was created in 2013 by software programmers Billy Markus and Jackson Palmer. The pair created the coin in response to all the ado made about Bitcoin spinoffs. The coin’s avatar is that of the iconic chubby Shiba Inu dog, whose face rose to prominence as a meme. The meme-based cryptocurrency has seen a lot of push from Elon Musk in recent times. But later, Tesla CEO confirmed that he was only tweeting about Dogecoin as a joke. 

 

Coinbase was valued at $90 billion in a private auction before the public listing.

US-based crypto exchange giant Coinbase’s shares were traded at a valuation of roughly $90 billion in a private auction before the public listing of the high-profile US cryptocurrency company. According to a Bloomberg report, Nasdaq Private Market conducted the private auction that ended last Thursday, which is also the last private auction of Coinbase stocks conducted by the stock exchange. Each share of the cryptocurrency exchange was valued at $350 apiece, down from the previous auction price of $375. The price increase skyrocketed the cryptocurrency exchange valuation at around $100 billion, the anonymous sources of the publication revealed. 

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Disclaimer: The article reflects the opinions of the author and is not representative of Chaintimes’ views.
The article does not offer any investment advice. User discretion is advised when investing in or trading with cryptocurrency. Extensive and diligent research should be carried out by the reader before making a decision.

Jai Pratap
Jai Pratap
A Mass Media Graduate who loves to write. Jai is also a sports enthusiast and a big movie buff. He loves to learn new things.

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