Over the last several years, Elon Musk became somewhat of an internet sensation. The man basically became an international meme, but people love him all the same. In the crypto world, however, Musk diversified his crypto.
Elon Musk diversified his crypto in recent times
Elon Musk has recently expanded his cryptocurrency, or at least his tweets related to cryptocurrency. One month and a half after he called Bitcoin “brilliant,” the founder of SpaceX and Tesla lauded one of the longest-running, and famously whimsical, alternatives of the crypto market. It is Dogecoin, which he says might be his favorite cryptocurrency, said Musk. It is a pretty cool one, according to him.
His praise for the meme-inspired asset came in response to an April Fools Day poll, which was posted the day before by the official Dogecoin account, asking about who should actually be the next CEO of the cryptocurrency. Musk won with 54% of the vote.
Musk stated that they listened to their concerns, and decided that Dogecoin does need a CEO. It needs someone that can lead them into the future while maintaining the core values of what they are.
So, on Tuesday, the official Dogecoin account tweeted to Musk, saying that it looks like he is the CEO now, and he was asked to DM them where to email the access codes.
The creator of Dogecoin parodied Mush with a tweet
After that, Musk returned the favor with a few tweets, mentioning the crypto including one declaring that “Dogecoin rulz” – with a Doge meme attached. Of course, the meme-related likeness of Dogecoin cry actually means that it is not taken seriously for most of the time.
Following that, Jackson Palmer, the one that created Dogecoin, which is right now the 25th most expensive crypto by market cap, parodied Musk with a tweet, in which he says that he is considering selling http://Dogecoin.com for $4.20B. The funding is still not secured.
That was actually a reference to the infamous older post from the CEO of Tesla that ultimately led to a Securities and Exchange Commission or SEC action. For those that don’t get it, below is an explanation.
Last summer, Musk tweeted that he secured funding to sell his electric car company at $420 per share. The statement also proved to be untrue, ultimately costing Musk personally his chairmanship of the company and $20 million.
The value of Dogecoin may vary
The skeptics that followed the tendency of Musk to troll the internet also took note of the price: “420,” a number which is actually common code to pot users; hence, the asking price of Palmer of $4.2 billion.
It should also be noted that Palmer is not involved with this or any other crypto. However, Musk founded the Boring Company, dreamed up the Hyperloop, and is even the member of the PayPal mafia, so he seemed proud of his new affiliation.
On Tuesday, changed his biography on his Twitter account to “CEO of Dogecoin,” and after that, he updated it again, in order to say he was the former CEO. One of the most recent tweets from the dubiously appointed executive warns the investors that the value of Dogecoin may vary.
That being said, the last several days saw the market skyrocket with gave Dogecoin more than a 31% increase and left it with a price of $0.003.