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Is Dogecoin a pyramid scheme? What we know so far as Elon Musk faces $258B lawsuit invezz.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from invezz.com Daily Mail and Mail on Sunday newspapers.
Cryptocurrency investors are being warned they should be prepared to lose all of their money but there are still some steps that can be taken to cash in on sharp losses. Bitcoin plunged by 16 per cent on Wednesday after Tesla founder Elon Musk declared he would no longer accept it as payment for his electric vehicles. The billionaire argued cryptocurrencies were being mined using high-powered computers requiring fossil fuel energy to continuously solve computational math puzzles. Musk in March bought $US1.5billion of the world s most valuable cryptocurrency, sending its price to a record $US60,000 or $A80,000. Despite this week s fall, Bitcoin has still surged 424 per cent during the past year to be worth $63,830.94 on Friday, albeit below last week s levels above $74,000. ....
Sunrise co-host David Koch has described cryptocurrencies as a bad investment idea even though Dogecoin has surged by more than 19,000 per cent in just one year. Sunrise co-host David Koch has described cryptocurrencies as a bad investment idea even though Dogecoin has surged by more than 19,000 per cent in just one year. Dogecoin, co-created as a joke by 26-year-old Australian Jackson Palmer, was in May 2020 worth just 0.38 of an Australian cent. As of Monday morning, one unit of this social-media fuelled cryptocurrency was worth 73.23 cents, with its value multiplying by 191.7 times or 19,171 per cent compared with a year ago, and has continued soaring since last week. ....
Cryptocurrencies are surging with one digital unit surging in value by a whopping a 18,000 per cent in just one year and doubling in price in only one week. But it s not Bitcoin. ....