Coinbase will add dogecoin in the next six to eight weeks, the company's CEO revealed. Interest in the cryptocurrency meme has increased, highlighted by Tesla CEO Elon Musk calling himself the Dogefather.
- Coinbase CEO Brian Armstrong said during the company's earnings call on Thursday that his exchange will add dogecoin in the next six to eight weeks.
- In the company's first earnings report since its direct inclusion on the Nasdaq in April, Coinbase reported earnings of $3.05 per share and revenue of $1.80 billion, up from $585 million in the prior quarter. The company's net profit for the quarter was over $771 million.
- Coinbase CFO Alessia Haas answered the question of whether investors should take dogecoin seriously in an interview with Jim Cramer on CNBC's Mad Money on Thursday. "We leave that up to our users," she replied, clarifying:
We want to offer all assets that meet our listing standards and hope to be the place where you can come and trade anything you want to trade.
- Haas admitted: “It's not like that today. We are slow. We need to add more assets. We are making major investments to improve our asset addition rate, but clearly the market is speaking. "
- The price of dogecoin has increased dramatically in recent months. Tesla CEO Elon Musk is drawing attention to cryptocurrency with memes with his tweets and mentions on Saturday Night Live (SNL). During SNL, Musk played a financial expert who called himself the Dodger and said that cryptocurrency is hype, but also the "future of currency" that will "take the world by storm." Musk then held a Twitter poll on whether Tesla should accept dogecoin. 78.2% of the respondents are voted yes .
- In March, Musk was asked on Twitter if Coinbase should list dogecoin, given that Coinbase is the company that helped Tesla buy its BTC worth $1.5 billion at the time of purchase. The Tesla CEO replied, "Yes."
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