One of the most anticipated and exalted moments of the appearance of Tesla and SpaceX CEO Elon Musk Saturday Night Live this weekend was possible, and highly probable, mention of Dogecoin, the meme cryptocurrency that the tech billionaire has helped to inflate to record record. Never one to disappoint his adoring fanboys, Musk has given them what they want.
Musk, which host the international broadcast show on Saturday, spoke about Dogecoin in a “Weekend Update” sketch in which he played financial expert Lloyd Ostertag. Almost immediately, Musk also introduced himself as “Dogefather,” a reference to one of his recent tweets, which he himself is a riff The Godfather. The self-proclaimed Dogefather then proceeds to describe how cryptocurrencies work and states that, lately, prices for cryptocurrencies, particularly Dogecoin, have been on the rise.
Co-anchor Weekend Update, Michael Che, then pressures Musk to explain what Dogecoin is, a question many of us have been asking ourselves in recent months. The technology billionaire claims that Dogecoin started out as a scam based on an internet meme, but it’s taken for granted. Unhappy, Che, along with co-anchor Colin Jost, asks Musk back to explain what Dogecoin is. And he repeats the question again. And also.
After a bit of back and forth, Musk finally seems to break Dogecoin in a way that anchors on the Weekend Update may understand.
“I always tell you, it’s a cryptocurrency that you can exchange for conventional money,” Musk said.
“Oh, then it’s a mess,” Che said.
“Yeah, it’s a mess,” Musk admitted.
Even though it was a comedy sketch, Musk seemed to finally recognize what (true) financial experts have said about Dogecoin ever since. (This week, Musk himself said that the cryptocurrency is promising but has also warned its followers to invest prudently). Ironically, but not surprised considering that cryptocurrencies are volatile, Dogecoin was down 40% on the first Sunday, or at least such as 44 cents according to CNN, after the Dogefather spoke of it SNL.
In addition to mentioning Dogecoin, it was very likely that Musk was talking about another of his many obsessions, Mars, especially considering SpaceX recent success of Starship this past week. On Wednesday, the company successfully landed a prototype of the Starship rocket to be used to take astronauts to the Moon and one day bring man to Mars. It was the only prototype which is not exploded.
In this sketch, set in the near future, Musk has apparently already built a colony on the Red Planet. However, it was hit by a solar storm, which affected life support systems, specifically oxygen supply. Musk watches a brave but absent colonist named Chad (Pete Davidson) out of the colony to turn on the rescue oxygen circulator.
“Chad, I want to make sure you understand that you will not survive this mission,” Musk said. “To save your colony mates, you have to make the supreme sacrifice.”
“Hm, sick,” Davidson said.
The sketch also includes Miley Cyrus, the musical guest of the episode, and is set to dramatic music that awaits us in space movies. Chad has succeeded in its mission, but is experiencing a tragic end.
“Well, I said people were going to die,” Musk said. another reference to the statements he made to go to Mars. “I’ve never been here.”