In a recent Twitter spat with Billy Markus, Digital Currency Group CEO Barry Silbert has doubled down on his criticism of Dogecoin, he said that DOGE wasn’t worth $37 billion.
Barry Silbert, CEO of Digital Currency Group
“I’m truly excited to see what doge can become over time. it certainly is not going away and has one of the most passionate communities. but it is not worth $37 billion. sorry.” he tweeted on May 31.
Silbert is a big name in cryptocurrencies and one of its earliest adopters. Digital Currency Group is a digital currency-focused venture capitalist firm. Silbert is also the digital asset manager for crypto investment giant Grayscale Investments.
On May 8, Silbert revealed that his company has opened a $1 million short position on DOGE, betting on the token’s decline.
“Okay $DOGE peeps, it’s been fun. Welcome to crypto! But the time has come for you to convert your DOGE to BTC,” Silbert tweeted when the price of Shiba Inu meme trade at 0.72 USD per coin.
Rather than heeding his advice, many Dogecoin devotees, who call themselves Shibes, took Silbert’s next message as a challenge. He tweeted, “And to make it interesting, if $DOGE hits $1 by May 31st, we’ll donate $1 million to a charitable cause selected by the Dogecoin community.”
Read more:
- Elon Musk Claims His Ability To Take Action Is Limited When It Comes To Dogecoin
- Centibillionaire Elon Musk Has Taken Interest In The Idea Of Creating A Hut Tub Powered By Dogecoin Mining