Republican representative Mark Green bought dog dollars worth $1000 to $15000 from April 1 to April 14, according to a regular trading report submitted on Thursday.
The dog dollar, which was around $0.054 on April 1, had reached around $0.39 by Monday, meaning Green’s investment had risen to $7632 to $109800, depending on how much he bought. Even from April 14, the price of dog’s currency has risen by 247%.
According to the deal report, green also bought other cryptocurrencies such as Ethereum classic and stellar lumens.
The rise of dog money has puzzled many people because the cryptocurrency inspired by dog expression pack was a joke at the beginning of 2013, when the supply of the currency was unlimited. Even the inventor of doggy coin sold his holdings a few years ago and used the proceeds to buy a second-hand Honda Civic.
In the past few months, Elon musc, CEO of Tesla (714.63, -25.15, -3.40%) has repeatedly expressed support for dog currency on social media, saying “dog coin is the cryptocurrency of the people.”
Now, the total market value of dog coin has reached 50billion US dollars, surpassing the market value of Ford (12.11, -0.12, -0.98%), Marriott Hotel Group and Kimberly Clark.