This idea of betting $1,0000 on Dogecoin got many people’s attention which triggers some comments as they said “Maybe it’s fitting because Tesla CEO Elon Musk has been the biggest cheerleader of Dogecoin (DOGE-USD)”, but after the cryptocurrency’s more than 6,000% surge so far in 2021, a $1,000 bet on Dogecoin to start the year would now be worth enough to buy a brand new Tesla Model
If you placed a $1,000 bet on the popular cryptocurrency, which was founded back in 2013 as a joke to lampoon the boom in the number of altcoins, you’d be sitting on more than $60,000 based on the 35 cents mark it hit Friday. In fact, at Friday’s all-time high of 43 cents that same $1,000 would be worth closer to $80,000 — more than enough to cover the roughly $60,000 purchase price of a performance.
Maybe that was Musk’s plan all along.
Of course, Musk has been equally active in using his Twitter account to champion the accomplishments of Tesla. But the effort hasn’t resulted in much for the company’s stock, which has traded relatively flat on the year. As a comparison to the more than $50,000 that the $1,000 investment into Dogecoin would have netted, the same investment in Tesla would only amount to about $1,012.