In a segment called ‘Why investors may want to take dogecoin seriously’ on CNBC. Host Jon Fortt discusses why investors should take dogecoin seriously with Coindesk’s Emily Parker. Parker wrote the article ‘Why We Should Take Dogecoin Seriously‘ for Coindesk.
“Dogecoin is like digital Chucky Cheese tokens.. they are really valuable to a toddler at Chucky Cheese but once you leave my goodness.”
If effect he is saying that Chucky Cheese tokens are only valuable to those who give it value. With a market cap as of today at $7,131,248,726, I’d say a lot of people find value in it and so does Parker.
“It really reflects the moment we are in now where basically collective belief and collective action on social media can really raise the price of an asset and that’s what we have seen with Dogecoin and that’s what we have seen with GameStop.”
Then Fortt chimes in with his Chucky Cheese analogy again.
“I think if we gave 4-year-olds the power to make serious financial decisions, would you like this car or this bag of Chucky Cheese tokens, they would pick the bag. “
People are making real-world financial decisions and some people are making real money on Dogecoin right now. Comparing Dogecoin investors to children is a bit much. He then asks the question is this really about Dogecoin or something else.
“Is this more time to take it seriously, it Dogecoin itself, or time to take seriously the fact that people are so swept up in this meme-like moments that they have taken on a financial significance, that can have real-world implications.”
Parker agrees with his point and says she is not telling anyone to go out and buy Dogecoin.
“We are in a moment where assets are being valued by the masses and by the mobs on social media, I think Dogecoin is a perfect representation of that.”
By the way, the segment was less than 3 minutes and the fact that places like CNBC have to talk about Dogecoin, even though they are kicking and screaming, is good for Doge. They will come around in time, as they did with Apple, Facebook, Tesla, and now Bitcoin.