Elon Musk reveals his favorite Cryptocurrency

The founder of Tesla and Space X Elon Musk has unveiled his favorite cryptocurrency. Let's find out what digital asset it is and how much it is worth.

Dogecoin is Musk's favorite cryptocurrency

This is not Bitcoin, but the cryptocurrency favored by Tesla's CEO Elon Musk is the Dogecoin (DOGE), currently evaluated in addition $ 317 million.

On Twitter, Dogecoin published a tweet asking to vote for the election of the next CEO of the decentralized project.

Elon Musk reveals his favorite Cryptocurrency - twitter CEO Dogecoin

The list of potential CEO candidates includes the following names: the creator of Ethereum (ETH) Vitalik Buterin, the founder of Litecoin (LTC) Charlie Lee, and Elon Musk, which obtained the 49% of the votes.

However, Elon Musk has ignored the potential opportunity to become the CEO of the blockchain project.

Musk himself commented that "like any other cryptocurrency, the value of the Dogecoin may vary and be subject to sudden fluctuations".

Elon Musk warns the Crypto Community of possible risks to invest large amounts of capital on a digital asset subject to "schizophrenias in terms of performance ".

Information on Dogecoin

Dogecoin is a cryptocurrency similar to Litecoin, born almost as a joke and based on the famous "doge", which is used to describe humorous dialogues accompanied by an image.

The idea was to make fun of those who had invested money in the cryptocurrency sector without knowing how it really worked.

But after a large number of users started using it, Dogecoin lost its "ironic" connotation.

Dogecoin is currently one of the most traded cryptocurrencies in the world: just think that in the last 24 hours have been recorded well $ 53 million in volume of transactions.

One of the most popular uses of Dogecoin is the reward of Internet users for interesting and quality content created or shared.

At the time of writing, its price amounts to $ 0,0031 for Dogecoin.