For comparison, if stimulus check recipients had put their cash into bitcoin it would be worth around $15,000.
Robinhood, which added support for bitcoin and a handful of cryptocurrencies, including dogecoin, in February, buckled under the weight of dogecoin trades this week for the second time in a matter of weeks as Tesla billionaire and dogecoin devotee Elon Musk whipped the market into a frenzy ahead of his closely watched appearance on Saturday Night Live this weekend.
“Friends who’ve never invested in their lives are now asking me how to buy scam coins through obscure ‘exchanges’ that have sprung up overnight.
I have covered the rise of bitcoin and cryptocurrency since 2012 and have charted its emergence as a niche technology into the greatest threat to the established financial system the world has ever seen and the most important new technology since the internet itself.