Elon Musk Reveals Why Dogecoin (DOGE) is His Top Crypto Pick

Elon Musk Reveals Why Dogecoin (DOGE) is His Top Crypto Pick


Billionaire Elon Musk declares Dogecoin as his favorite cryptocurrency due to its humor and dog-related theme, while also predicting that the meme-based asset could potentially become a global currency.

As new memecoins make waves in the cryptocurrency space, billionaire Elon Musk (Tesla & SpaceX CEO) reveals that Dogecoin (DOGE) remains his favorite digital asset.

In a new interview with The Wall Street Journal, Musk explains why he still prefers the original memecoin, which was made as a parody of the leading digital currency Bitcoin (BTC) (BTC).

“ Dogecoin (DOGE) is my sort of favorite digital currency because it has the best humor and has dogs.”

Musk reveals it will be amusing to see an investment that was made as a joke become a worldwide currency. The statement comes amid reports that Twitter will introduce cryptocurrency payments on the microblogging platform.

“A friend of mine has a saying that the most ironic justification is the possibly likely and the most ironic outcome for currency would be that the thing that was created as a joke to make fun of digital currencies. The most ironic outcome would be that it becomes the worldwide currency.”

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Musk is between DOGE’s most influential supporters. In April, the price of Dogecoin (DOGE) jumped by 30 percent following his executive decision to change Twitter’s blue bird icon to DOGE’s logo.

The billionaire is indeed facing a $258 Billion lawsuit filed by a group of investors who accuse him of illegally promoting and pumping up the price of Dogecoin (DOGE). Musk’s lawyers argue that his statements about the crypto token were as well vague and silly to be considered an actual endorsement of the digital asset.

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