These celebrities all invested in cryptocurrency
Dogecoin reaches all-time high at over 10 cents, marking 2000% increase from start of year
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Based on blockchain technology that allows them to exist and function largely outside of government control, cryptocurrencies have on the one hand been praised for their inflation resistance and transparency. On the other hand, they have faced criticism for their exchange rate volatility and their potential to be used for illegal activities.
And it's not just experts who are interested in the potentially revolutionary technology. For better or worse, many household names have come out in favor of cryptocurrencies—even in favor of Dogecoin, which originally started as an internet parody using the image of a Shiba Inu dog. Dogecoin has surged more than 85% in 24 hours and is trading at US$0.13, CNN reports. It has also soared more than 2,000% from the start of the year, and counts Tesla CEO Elon Musk as a fan. Musk's tweets have often caused spikes in Dogecoin's value, and his company has promised customers that they can buy Tesla cars with bitcoin.
Check out this gallery to see which celebrities are on board with the cryptocurrency craze.
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