The founder of DCG predicted a 37-fold fall in Dogecoin capitalization

Barry Silbert believes that altcoin, which was created as a joke, cannot have a capitalization of $ 37 billion.
The founder and CEO of Digital Currency Group Barry Silbert predicted a drop in Dogecoin capitalization from $ 37 billion to $ 1 billion. The businessman is sure that the coin is not worth $ 37 billion. He also noted that he would be glad to see what the coin will turn into over time and how it will change community.

bitcoin has both. doge does not. prove me wrong and i’ll be a buyer








— Barry Silbert (@BarrySilbert) May 30, 2021
 
In early May, Barry Silbert announced he was short on Dogecoin. At the same time, altcoin fell in price by 43% over the week, to $ 0.41. After that, the price of the Doge rose to $ 0.56 amid a Twitter poll hosted by Tesla and SpaceX CEO Elon Musk. He asked subscribers if it was worth adding Dogecoin as Tesla payment method. Then the altcoin quotes went down again.







Okay $DOGE peeps, it’s been fun. Welcome to crypto!
But the time has come for you to convert your DOGE to BTC
[disclosure: we’ve gone short DOGE via https://t.co/s8Qde2Ub4Z]






— Barry Silbert (@BarrySilbert) May 8, 2021
 





As of 12:50 p.m. ET, the Doge is trading at $ 0.30 with a market cap of $ 39 billion, according to CoinGecko. Dogecoin is up 7,400% since the beginning of the year.
Digital Currency Group is a venture capital investment company that was founded in 2015. She owns CoinDesk, Grayscale management company and Genesis Trading cryptocurrency broker.