Tesla Inc (NASDAQ:TSLA) CEO Elon Musk’s favorite cryptocurrency is not Bitcoin (BTC) but a meme-based cousin, which has a Shiba-Inu as its mascot. 

“Dogecoin might be my fav cryptocurrency. It’s pretty cool,” said Musk — after winning a joke poll to be the CEO of Dogecoin. He beat the likes of Ethereum (ETH) founder Vitalik Buterin and Litecoin (LTC) creator Charles Lee.

Dogs Rock: Musk, who often tweets about a myriad of topics, has freely expressed his thoughts on canines and the cryptocurrency inspired by them. 

According to Musk, “[Dogs] have the best coin.”

Only Sell Doge: Musk, whose name is often used by a myriad of cryptocurrency scammers, said jokingly in July this year “Excuse me, I only sell Doge!” in response to a demand for Bitcoin. 

Musk’s comments were made in the same month when a Tik Tok campaign designed to send the meme-based cryptocurrency’s value spiraling managed to shoot DOGE price up by 50% in a 24-hour period. 

Doge To The Rescue: Musk’s love for Dogecoin extends back years. In 2018, he asked Palmer for help in dealing with “scam spammers.” Palmer then responded and offered to provide a script to Musk that would help with the problem, reported Cointelegraph.

Doge Vs. Tesla: So how has Musk’s favorite cryptocurrency fared heading into the last month of 2020? Dogecoin (DOGE) has gained 64.51% on a year-to-date basis, not bad for a joke. Tesla has shot up 579.87% in the same period, emerging as the top dog among the pair.

For further context, Alphabet Inc (NASDAQ:GOOGL) (NASDAQ:GOOG) Class A shares are up 36.3% this year and Apple Inc (NASDAQ:AAPL) shares have added 67.6% YTD.

As for Bitcoin, that’s up 164.73% on a YTD basis, with the recent rally.

Photo by Dogeloverforever on Wikimedia