Sunday, May 09, 2021
Announcement on “Saturday Night Live”
Musk comedy crashes Dogecoin
For the first time Elon Musk is a guest on the US comedy show “Saturday Night Live”. The Tesla boss and space entrepreneur lets himself look into his soul, only to trigger a small stock market tremor with strange remarks about the crypto currency Dogecoin.
With his first appearance as a guest presenter on the legendary US comedy show “Saturday Night Live”, Tesla boss Elon Musk sent the price of the crypto currency Dogecoin into a plunge. When asked “What is Dogecoin?” Musk initially replied, “It is the future of currency. It is an unstoppable financial vehicle that will conquer the world.” When a cast member on the show, Michael Che, asked, “So, it’s a hustle?”, Musk replied, “Yeah, it’s a hustle.” And then laughed. The English word hustle can be translated as hype, hustle and bustle.
That was enough to drop the price of the cryptocurrency sharply. It was now trading at just $ 0.47 on the Binance crypto exchange, a 28 percent decrease from the level it had before the broadcast. According to the relevant crypto data site CoinGecko.com, Dogecoin gained more than 800 percent in value last month, making it the fourth largest digital currency – with a market capitalization of $ 73 billion. Last Thursday the price reached a record high of $ 0.73.
At the beginning of his appearance, the boss of the electric car pioneer surprised with a private admission. He was “the first person with Asperger’s to moderate the SNL. At least the first to admit it,” said the bustling billionaire in the opening monologue typical of the show, referring to the autism form, but often with difficulties in social interaction extraordinary interests and talents are also connected. Musk also made fun of his tendency to speak monotonously.
Not a “normal guy”
The eccentric entrepreneur, who is also the founder of the space company SpaceX, said, “Look, I know I say or post strange things, but that’s how my brain works.” He wanted to say to everyone he insulted: “I’ve reinvented electric cars and I’m sending people to Mars in a rocket. Do you really think I was a comfortable, normal guy?”
Musk has drawn criticism several times in the past, including for publicly making fun of the US Securities and Exchange Commission. In 2018 he had called a cave diver rescuing children from a cave in Thailand “pedo types”.
The appearance was eagerly awaited in the USA, especially by fans of cryptocurrencies. With tweets like “Doge” and “Dogecoin is the people’s crypto” (Doge is the people’s crypto currency), Musk helped fuel the dogecoin rally. The unconventional CEO had previously repeatedly posted numerous comments about cryptocurrencies on Twitter and criticized normal old cash for only generating negative real interest rates. “Just a fool wouldn’t look anywhere else,” Musk said in February.
Last Thursday, Musk tweeted: “Cryptocurrency is promising, but please invest with caution!” In an attached video, he also said that cryptocurrencies had a “good chance” of becoming “the future currency of the earth”. Tesla customers have been paying for electric cars with the crypto currency Bitcoin since March. Musk himself had bought the highly volatile cryptocurrency for 1.5 billion dollars in early February, causing a hype.