Dogecoin and Elon Musk’s cryptic ‘SNL’ tweet
The Tesla CEO called himself 'The Dogefather'
Elon Musk drove dogecoin's value up after a cryptic tweet Thursday.
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The Tesla CEO called himself "The Dogefather" in reference to his highly anticipated "Saturday Night Live" hosting debut on May 8.
"The Dogefather SNL May 8," he wrote.
The SpaceX founder is no stranger to hyping dogecoin, a parody cryptocurrency based on the "Doge" meme created in 2013.
DOGECOIN: WHAT'S BEHIND THE SURGE?
After Musk's tweet, there was a rise in the price of dogecoin by 20% in the last 24 hours to 32 cents.
The billionaire entrepreneur previously tweeted about dogecoin on April 1, also April Fool's Day, when he claimed that "SpaceX is going to put a literal Dogecoin on the literal moon."
VALUE OF TESLA'S BITCOIN STASH SWELLS
Musk's Tesla was the first high-profile corporation to make a big bet on Bitcoin, earlier this year disclosing a $1.5 billion investment as part of its balance sheet and said that it would start accepting the currency as payments for cars.
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In an SEC filing on Wednesday, the company disclosed fair market value of its bitcoin holdings was now $2.48 billion, suggesting it is sitting on a sizeable gain on its initial investment.