Elon Musk Calls Dogecoin ‘My Fav Cryptocurrency’
NEWSElon Musk has diversified his cryptocurrency. Or at least, his crypto-related tweets.A month and a half after calling bitcoin “brilliant,” the Tesla and SpaceX founder lauded one of the crypto market’s longest-running, and famously whimsical, alternatives.“Dogecoin might be my fav cryptocurrency. It’s pretty cool,” Musk tweeted Tuesday.His praise for the meme-inspired asset came in response to an April Fool’s Day poll posted the day before by the official Dogecoin account asking who should be the cryptocurrency’s next CEO (an absurd notion on its face, since crypto projects are supposed to be decentralized). Musk won with 54 percent of the vote.So at 18:26 UTC Tuesday, the official Dogecoin account posted, “Looks like you’re the CEO now @elonmusk, DM us where to email the access codes :-D”Musk then returned the favor with several tweets mentioning the cryptocurrency including one declaring that “Dogecoin rulz” – with a Doge meme attached.
‘$4.20 billion’
Then Jackson Palmer, the creator of Dogecoin – currently the 25th most valuable cryptocurrency by market capitalization, according to CoinMarketCap – parodied Musk with this tweet:
Despite its relatively low price, DOGE does have a dedicated group of followers and users since its inception in December of 2013. Elon is simply diversifying his crypto holding by hedging bets on a few reputable and popular coins.