Memes, Pumps, Blunders: Absurd Crypto Spectacles Make a Comeback
- Memecoins like ‘dogwifhat’ steal the spotlight from Bitcoin
- ‘It’s just people fighting for liquidity and attention’
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At a conference in Manhattan last week, a few hundred people gathered to hear luminaries of the cryptocurrency industry and executives from the likes of BlackRock and Fidelity discuss Bitcoin’s march into the investing mainstream this year.
However, it was another token that kept coming up in the conversations: a newer cryptocurrency best known for its logo featuring an image of a dog wearing a knit hat. The billionaire Michael Novogratz, chief executive officer of Galaxy Digital, jokingly lamented that he doesn’t have a position in the coin called dogwifhat.