Sunrise co-host David Koch has described cryptocurrencies as a bad investment idea even though Dogecoin has surged by more than 19,000 per cent in just one year.

Sunrise co-host David Koch has described cryptocurrencies as a bad investment idea even though Dogecoin has surged by more than 19,000 per cent in just one year.

Dogecoin, co-created as a ‘joke’ by 26-year-old Australian Jackson Palmer, was in May 2020 worth just 0.38 of an Australian cent.

As of Monday morning, one unit of this social-media fuelled cryptocurrency was worth 73.23 cents, with its value multiplying by 191.7 times or 19,171 per cent compared with a year ago, and has continued soaring since last week.

The best-known cryptocurrency Bitcoin has multiplied in value by five times during the past year to be worth $74,085, with Tesla founder Elon Musk a key backer who accepts it as payment for his electric cars. 

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Dogecoin during the past year multiplied by 191.7 times or 19,171 per cent since a year ago

Dogecoin during the past year…

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