To much surprise, Elon Musk will be hosting Saturday Night Live this upcoming May 8th, marking one of very few CEOs to ever do so. His appearance is also a potential opportunity for Bitcoin and Dogecoin to get some airtime on a grand stage.
Here’s what the Tesla and Space X CEO’s appearance on SNL in May might mean for the cryptocurrency market.
The Dogefather
SNL May 8— Elon Musk (@elonmusk) April 28, 2021
Live From New York It’s Saturday Night!
The outspoken and eccentric Tesla CEO and Dogecoin spiritual frontman Elon Musk will be hosting the decade’s-running NBC late-night TV show Saturday Night Live, produced by Lorne Michaels. The show has featured some of Hollywood’s biggest names, the most famous athletes, musicians and more.
Recurring roles on the show have included the likes of Will Ferrell, Eddie Murphy, Adam Sandler, Jimmy Fallon, Amy Pohler, Chevy Chase, Chris Rock, David Spade, and the late Chris Farley. Current featured players include Keenan Thompson and Pete Davidson.
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Skits range from around two to five minutes long and touch on whatever topics are currently trending. Recent episodes also included subject matter such as NFTs.
But during Elon Musk’s monologue this May, there’s a high probability he’ll address his recent role in the Dogecoin boom, and might also discuss his company’s historic BTC purchase and sale.
The self-proclaimed "Dogefather" has been a big part of the altcoin's growth | Source: DOGEUSD on TradingView.com
What “Dogefather” Could Do For Bitcoin And Dogecoin Acceptance
The fact alone that Elon Musk has called himself “Dogefather” in reference to his SNL appearance this May suggests it is a topic he won’t try to avoid. It is also a topic of conversation he has increasingly joined on Twitter.
After it was revealed his company sold a portion of BTC for profit to prove the concept valid, the community went nuts in outrage that Musk “would dare sell his coins.” Musk was quick to clear things up, that he never sold his own coins but his company took some profit. He added that Tesla will still also accumulate any coins they make from BTC sales.
Tesla is a business and any business is focused on their bottom line. Taking profit after the incredible ROI they’ve already got out of Bitcoin simply secured that profit, and allowed the company to post more profits than it made from its car sales altogether.
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The strategy is something that the cryptocurrency community will need to get used to, as corporations strategize to ensure financial stability. Simply holding BTC might be a solid strategy thus far, but taking profit is always wise.
Beyond the business deals, Musk’s appearance will broaden the visibility of these cryptocurrencies to a massive audience built across around fifty years of late-night television.
SNL is one of the biggest and most recognizable stages in the world, and although it is Musk taking center stage at Studio 8H at Rockefeller Plaza, Bitcoin and Dogecoin are almost certain to get some airtime as well.
Featured image from Pixabay, Charts from TradingView.com