A $42-billion joke

Good morning,

It’s Zaheer here. Dogecoin, a cryptocurrency started as a joke in 2013, is currently the world’s seventh-largest digital coin with a market value of over $42 billion.

Who’s laughing now?

The world’s strangest (and cutest) cryptocurrency

In January 2014, the two-man Jamaican bobsled team announced they wouldn’t be able to make it to the Winter Olympics in Sochi as they didn’t have the $80,000 needed for travel, equipment and other expenses.

They ended receiving help from an unusual source (yes, even more unusual than ice-racers from the tropics). Users of Dogecoin, a cryptocurrency that began as a joke, helped make Olympics history by raising more than $30,000 worth of Dogecoin to help fund the team’s trip to Russia.

A Doge is born

Source: Dogecoin Facebook

Dogecoin had been created the previous year by Jackson Palmer, a product manager for Adobe Inc in Sydney, and Billy Markus, a software developer at IBM, as a joke about the hype surrounding cryptocurrencies.


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