2021-05-07 16:00:00

Dogecoin: Why it’s worth more than Elon Musk’s SpaceX

Dogecoin’s recent spike in value has pushed it past SpaceX, the private space travel company founded by Dogecoin fan Elon Musk, according to The Independent.

Dogecoin’s market cap reached $78 billion, which was almost $5 billion more in value than Musk’s private rocket company, per The Independent. Indeed, CNBC reports that SpaceX is valued at near $74 billion.

This isn’t the first time Dogecoin has surpassed another company in value. For example, Dogecoin recently surpassed the value of Coinbase, an app that allows people to buy and sell cryptocurrency, as I wrote for the Deseret News.

  • Dogecoin has also surpassed other major American companies in terms of value, including Twitter, Ford and Honda, among several others, according to my report for the Deseret News.

Elon Musk and Dogecoin

It’s interesting that Dogecoin has surpassed the value of SpaceX, which is owned by Musk, since Musk has been a major proponent of Dogecoin, as I explained for the Deseret News.

In fact, much of the recent hype around Dogecoin has come because investors believe Musk will mention the cryptocurrency during his May 8 “Saturday Night Live” appearance, which may only drive up value since more people will invest in it, as I explained for the Deseret News.

  • However, it’s unclear if Musk will mention Dogecoin. Benzinga reported that Musk hinted that he would mention Dogecoin on “SNL” in a recent video, but he did not make it clear whether or not he would.
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