Elon Musk has set up a poll on the future currencies of the Earth.
The future currency of Earth
— Elon Musk (@elonmusk) February 6, 2021
The unfortunate news for the US Treasury Department was that the dollar did not make it into the poll. Neither was the euro, nor the pound sterling. The Musk poll did not include any fiat currencies. Instead, users were granted an option between Dogecoin and “all cryptocurrencies combined”
The tweet created quite a stir among its 45.6 million-strong followers, with some users berating Musk for “messing with markets” and urging people to buy cryptocurrencies whose price is unpredictable.
Others shared support for Dogecoin, which was created in 2013 as a prank after bitcoin’s popularity sparked a surge of copycat cryptocurrencies. The blockchain uses the Shiba Inu dog meme as an emblem.
Some have also expected a merger between the dollar and the Dogecoin. Move over, George Washington!
Other users wondered whether Musk would release his own cryptocurrency and warn him of another potential lawsuit by the Securities and Exchange Commission. In 2018, the Regulator fined $20 million to Musk and Tesla for a tweet in which he speculated that the company will be privately owned.
Still, some netizens joked about Musk’s effect on the price of cryptocurrency and investment.
Musk’s high-profile position is also a source of wonder when it comes to capital markets. At the beginning of January, the shares of Japanese gaming firm Bandai Namco Holdings Inc soared 4.4 per cent after Musk shared a meme featuring the company’s franchise.
Similarly, GameStop’s shares were bolstered, while Dogecoin’s price increased by 50 per cent on 4 February after he shared a meme revealing himself to be the mandrel Rafiki of “The Lion King” carrying a Dogecoin.
According to the findings of the Musk survey, 73.7% contend that Dogecoin would be the eventual currency of the planet. Some 26.3 per cent voted in favour of such cryptocurrencies.
