![]() Musk has tweeted about Dogecoin throughout its existence, including a fake magazine cover and a Lion King meme. But he’s probably kidding about the latter. ![]() ![]() Only two cryptocurrencies have been blessed by Tesla CEO Elon Musk’s Midas touch: Bitcoin and Dogecoin. They used a popular meme at the time-a Shiba Inu dog with a purposely misspelled “doge” in the title.ĭogecoin garnered some attention over the years through publicity stunts, like sending the Jamaican bobsled team to the 2014 Olympics, sponsoring a NASCAR driver and financing more than $30,000 for clean water in Kenya.īut mostly it was a nearly invisible so-called alt currency without much takeup, a spec of water in a sea of thousands of crypto alternatives. It was conceived as technology that would remove rent-seeking middlemen from the world of finance, and while that hasn’t exactly come to pass-it’s more of a speculative store of value today-at least Bitcoin offers a compelling story.ĭogecoin, meanwhile, was created by software engineers Billy Marcus and Jackson Palmer back in 2013 quite literally to poke fun at the hagiography surrounding Bitcoin. The latter was created by the mysterious Satoshi Nakamoto and pioneered blockchain technology. What Is Dogecoin, Really?ĭogecoin’s origin story reads as a parody of Bitcoin. A few will profit, most of the rest will take a loss and the absurdity of Dogecoin will linger on. While Dogecoin started as folly, it has evolved into a real asset-at least as real as a cryptocurrency can be-with actual people betting actual dollars on it.
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