Bloomberg News
@Bloomberg-News·2.8M subscribers·40.1K videos
Elon Musk on SNL Spurs Dogecoin Watch Parties After 20,000% Gains
Posted
May 7, 2021
Views
11,051
Likes
69
Comments
31
Engagement
May 7, 2021
11,051
69
31
0.90%
Every word spoken in this episode is indexed. Type any phrase to jump straight to the moment it was said.
Type any word or phrase that may have been spoken. Click a result to seek the player to that exact moment.
Try a name, a topic, or a quoted line
2:17Now PlayingThey’ll be setting up taco bars, monitoring price movements on dedicated screens and taking a drink every time someone says “doge.”
Dogecoin traders around the world are organizing watch parties for Elon Musk’s appearance this weekend on “Saturday Night Live,” with their apps open in case the Tesla Inc. chief and crypto booster’s comments move prices.
“A lot of this depends on what Elon Musk does, what he says,” said Alma Cortez, 28, of Fresno, California. “Everyone is going to be on their phones, but at the same time trying to pay attention to see what’s moving, because you don’t want to lose.”
She will have a taco bar, music and a bartender on hand at her house for a group of about 10 friends watching Musk’s performance.
Cortez’s enthusiasm is part of the mania over Dogecoin, which has emerged from its genesis as a cryptocurrency that was coded on a whim to delivering astonishing profits for some traders.
Consider the case of Ramy Bekhiet, a 27-year-old engineer from Ewing, New Jersey. Last year, he plonked down about $750 to buy 250,000 Dogecoins when it was trading at $0.003 — that’s not a typo. Yes, a fraction of a cent. As of Friday afternoon, the cryptocurrency was trading at about 61 cents per coin, making Bekhiet’s investment worth about $152,500.
Prices have soared an astounding 10,626% this year and about 26,500% since a low last July. The fact that Dogecoin traded at fractions of a penny was part of its appeal, making it seem fun, approachable and cheap — attracting fans ranging from ordinary investors to celebrities.
Subscribe to our YouTube channel
Bloomberg Quicktake brings you live global news and original shows spanning business, technology, politics and culture. Make sense of the stories changing your business and your world.
To watch complete coverage on Bloomberg Quicktake 24/7, visit or watch on Apple TV, Roku, Samsung Smart TV, Fire TV and Android TV on the Bloomberg app.
Have a story to tell? Fill out this survey for a chance to have it featured on Bloomberg Quicktake
Connect with us on…
Breaking News on YouTube
Sentinel Indexing in Progress
Metadata and chapters are available. Claim extraction for this episode is pending.
All video content is delivered via YouTube embedded players in accordance with the YouTube Terms of Service. Sentinel provides research tools that promote discovery and accountability across political media.
