Elon Musk 'elected' chief executive office of Dogecoin altcoin

Elon Musk 'elected' chief executive office of Dogecoin altcoin

Elon Musk 'elected' chief executive office of Dogecoin altcoin

When you are the CEO of billion-dollar companies, there's hardly a tiresome moment.

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". Musk is now openly showing his support for so-called joke cryptocurrency Dogecoin, which grew much larger than anyone had initially expected, and the team behind the coin bestowed the honorary title "CEO of Dogecoin" upon him - at least for a while. Now whether or not he was being serious is up for debate, but YourStory has reached out to Musk and we will be updating you as soon as we hear back from this address. It all started out with an April Fool's post, shared by the Dogecoin account, asking people to vote for a new CEO.

"We have listened to your concerns".

We all know Elon Musk's love for Twitter and his head-turner tweets about his companies and interest, which sometimes also attracts the regulator's attention asking for clarification. "Someone who can lead us into the future".

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Musk won the majority of votes from more than 4,000 participants over his three competitors: Ethereum founder Vitalik Buterin, Litecoin founder Charlie Lee and Metal Pay founder Marshall Hayner.

"Dogecoin might be my fav cryptocurrency". The tweet of Musk on Tuesday mentioned that he found Dogecoin quite cool and it might be his favorite cryptocurrency. Then after he tweeted his email-id but shortly after he removed it.

Continuing further, Musk explained that digital assets are fundamentally great simply because cryptos can evade the currency controls, specifically in nations bogged down with political and financial turmoil, such as Venezuela. The serial tech entrepreneur has been pretty vocal about cryptocurrency.

However, Musk is also aware of the flip-side, as he pointed out the "energy-intensive" problem with using cryptocurrency.

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