As new memecoins make waves in the crypto space, billionaire Elon Musk says that Dogecoin (DOGE) remains his favorite digital asset.
In a new interview with The Wall Street Journal, Musk explains why he still likes the memecoin.
“Dogecoin is my favorite cryptocurrency because it has the funniest and has dogs.”
Musk said that it would be fun to see an asset created as a joke become a global currency. The statement comes amid reports that Twitter will introduce cryptocurrency payments on its platform.
“What was created as a joke to mock cryptocurrency has the most ironic result that it will become a global currency.”
Musk is one of DOGE’s most influential advocates. In April, the price of Dogecoin increased by 30% following his decision to change Twitter’s blue bird icon to the DOGE logo.
The billionaire has faced a $258 billion lawsuit filed by a group of investors accusing him of illegally promoting and inflating the price of Dogecoin.
Musk’s lawyers argued that his claims about the token were too vague and silly to be considered affecting digital assets.