Memes, Pumps, Blunders: Absurd crypto spectacles make a comeback
cryptocurrency industry and executives from the likes of BlackRock and Fidelity discuss Bitcoin’s march into the investing mainstream this year.
However, it was another token that kept coming up in the conversations: a newer cryptocurrency best known for its logo featuring an image of a dog wearing a knit hat. The billionaire Michael Novogratz, chief executive officer of Galaxy Digital, jokingly lamented that he doesn’t have a position in the coin called dogwifhat.
“I don’t, as much as I want to,” he said to laughs from the audience. “I just fear if I tweet ‘God, I love dogwifhat like Arthur Hayes does,’ I will literally be investigated two days later by the CFTC.”
The proximate cause of this year’s revival in digital-asset markets is the arrival of long-awaited US exchange-traded funds that are delivering Bitcoin into investors’ traditional brokerage accounts. Yet much like with the conversations at this Bitcoin Investor Day conference, the crypto community’s more whimsical impulses are stealing the spotlight in the market, pushing some of the most-pointless tokens — known as memecoins — to even bigger gains than Bitcoin.
Did you Know?
The world of cryptocurrencies is very dynamic. Prices can go up or down in a matter of seconds. Thus,
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