Weekend Update- Financial Expert Lloyd Ostertag on Cryptocurrency

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Michael Che

Lloyd Ostertag… Elon Musk

[Starts with Michael Che in his set]

Michael Che: Well, it was another great week for investors with the stock market reaching record highs and crypto currency continuing to boom, here to explain crypto currency is Weekend Update financial expert, Lloyd Ostertag.

[Lloyd Ostertag slides in] [cheers and applause]

Lloyd Ostertag: Thank you, Michael. Call me the Doge father.

Michael Che: Okay, Doge father. [cheers and applause] Hang on. I got to ask you something. For our viewers who may not know anything about this, what are crypto currencies?

Lloyd Ostertag: They’re type of digital money but instead of being controlled by central government, they’re decentralized using blockchain technology. And lately, prices have been soaring for cryptos like Bitcoin, Etherium and specially Dogecoin.

Michael Che: Oh, right. Now, what is Dogecoin?

Lloyd Ostertag: Well, it actually started as a joke based on an internet meme. But now it’s taken off in a very real way.

Michael Che: Okay. But what is Dogecoin?

Lloyd Ostertag: Well, it was created in 2013 and has a circulating supply of 117 billion coins of which 113 billion have already been mined.

Michael Che: Alright, cool. So, what is Dogecoin?

Lloyd Ostertag: Yeah, like I said, it’s a digital currency.

Michael Che: Like, for instance, [pulls out a dollar bill] this is a dollar, right? It’s real.

Lloyd Ostertag: Sort of.

Michael Che: Yeah. So, what is Dogecoin?

Lloyd Ostertag: It’s about as real as that dollar.

Michael Che: Hey, Colin, are you making any sense of this?

Colin Jost: I’ve actually been reading a lot about it. Yes. And I’m trying to diversify my investment portfolio. My question is, what is Dogecoin?

Lloyd Ostertag: I’m glad you asked.

Michael Che: Still a question.

Lloyd Ostertag: Well, it’s a future of currency. It’s an unstoppable financial vehicle that’s going to take over the world.

Michael Che: I get that. But what is it, man?

Lloyd Ostertag: I keep telling you, it’s a crypto currency you can trade for conventional money.

Michael Che: Oh! So, it’s a hustle.

Lloyd Ostertag: Yeah, it’s a hustle.

Michael Che: Why didn’t you say that, man? Doge Father, everybody.

Lloyd Ostertag: To the moon!

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Author: Don Roy King

Don Roy King has directed fourteen seasons of Saturday Night Live. That work has earned him ten Emmys and fourteen nominations. Additionally, he has been nominated for fifteen DGA Awards and won in 2013, 2015, 2016, 2017, 2018, 2019, and 2020.

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