Elon Musk has revealed what his favorite cryptocurrency might be on Twitter: Dogecoin. Of course it’s clearly a joke, and Musk is wont to make light-hearted remarks about bitcoin and cryptocurrencies on Twitter.
We have listened to your concerns. We have decided that Dogecoin does need a CEO. Someone who can lead us into the future while maintaining the core values of what we are.
— Dogecoin (@dogecoin) April 1, 2019
However this time Musk has gone the extra length with his joke, changing his Twitter bio to read “Former CEO of Dogecoin” and posting a link to an article from satirical news website The Onion, titled “Bitcoin Plunge Reveals Possible Vulnerabilities In Crazy Imaginary Internet Money”.
The whole incident began on April Fool’s Day, when a Dogecoin poll asked users who they would pick as CEO of the joke-coin. In a contest against heavy names like Ethereum co-founder Vitalik Buterin, Litecoin creator Charlie Lee, and Metal Pay CEO Marshall Hayner, Musk outright won the poll, winning over 50% of votes.
Following his victory this April Fool’s stunt, which caught the attention of several notable entities in the space, including Dogecoin creator Jackson Palmer, Musk changed his bio and posted a few tweets about the coin. Unsurprisingly, Dogecoin’s price shot up – though the entire market is experiencing a very tantalizing spike in prices.
Musk had earlier this year said that he admired the principles of bitcoin though he does not own much, and that digital currency would one day replace paper money – not an unlikely prospect, given that cash payments are already on the way out, looked over in favour of digital payments means. Musk said,
I think the bitcoin structure was quite brilliant. It seems like there’s some merit to Ethereum as well, and maybe some of the others. But, you know, I’m not sure if it would be a good use of Tesla resources to get into crypto.