Yuriko Nakao/Getty Images
- One Congressman is benefiting from the meteoric rise of dogecoin over the past few weeks.
- Republican House member Mark Green purchased thousands of dollars worth of Dogecoin this month.
- Since Green’s first purchase, Dogecoin has soared 632% as of Monday morning.
- Sign up here for our daily newsletter, 10 Things Before the Opening Bell.
The meteoric rise in Dogecoin over the past month is benefitting one congressman who purchased the cryptocurrency more than once this month.
Republican House member Mark Green purchased between $1,000 and $15,000 worth of Dogecoin on April 1 and April 14, according to a periodic transaction report filed on Thursday.
Dogecoin, which traded at $.054 on April 1, is hovering around $0.39 on Monday, representing a gain of 632%. Green’s $1,000-$15,000 purchase of Dogecoin on April 1 is worth between $7,632 and $109,800, depending on how much he actually bought. And since Green’s additional purchase of Doge on April 14, the coin is up 247%.
Other crypto purchases made by Green include Ethereum Classic and Stellar Lumens, according to the disclosure.
The surge in Dogecoin has befuddled many, as the dog-meme-inspired cryptocurrency was started as a joke in 2013 with an infinite amount of supply of the coin. Even the creator of Dogecoin sold his stake years ago to buy a Honda Civic.
Dogecoin has caught the attention of celebrities, like Diners, Drive-Ins, and Dives host Guy Fieri, who tweeted support for the cryptocoin last week. Tesla CEO Elon Musk has also voiced his support for Dogecoin on Twitter over the past few months. “Dogecoin is the people’s crypto,” Musk tweeted.
Now, the cryptocurrency has a total market value of $50 billion, making it bigger than Ford, Marriot, and Kimberly-Clark.
Powered by WPeMatico
