Dogecoin — the meme-based cryptocurrency — has jumped so high in value that it appears to be worth more than Honda, the car-making company.
Is Dogecoin worth more than Honda?
Dogecoin recently soared in value to be worth $0.42 per Dogecoin, which makes its market value close to $54.64 billion, according to Benzinga. Meanwhile, Honda is only worth about $54.52 billion. So it’s a slim margin, but a margin nonetheless.
- Interestingly, Dogecoin co-creator Billy Markus said he once sold all his cryptocurrencies in 2015. He earned enough to buy a used Honda Civic car at the time, according to Benzinga. He didn’t buy the car, using the money to pay rent instead. But he did mention that he only earned enough to purchase the Honda Civic.
Dogecoin soars over Twitter, Ford
Dogecoin became more valuable than Twitter and Ford earlier this week, according to my report for the Deseret News. Over the weekend, Dogecoin became valued at $49.8 billion, — higher than Ford ($45.2 million) and Twitter ($44.1 billion), according to Yahoo! Finance.
And Dogecoin currently ranks one spot behind Newmont Corporation, the world’s biggest gold-mining company in the world, on the Asset Dash rankings.
- “Dogecoin being valued higher than a traditional commodity-based company like Ford or just lower than one like Newmont Corporation continues the longstanding paradox that faces traditional investors with cryptocurrencies holding no physical value,” according to Yahoo! Finance.
Dallas Mavericks owner Mark Cuban said Dogecoin will become more useful as more companies allow people to spend their holdings. Cuban’s Mavericks allow people to spend Dogecoin at the Mavericks team shop, for example.
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