ElonGate, a joke by Elon Musk on Twitter, is now an official cryptocurrency

Elon Musk joked about a hypothetical situation in one of his tweets last month. The term from the tweet has now been picked as the name of a new cryptocurrency in the market.

There's a new cryptocurrency in the market with a rather amusing tale of origin. Called 'ElonGate', the currency came into being after a recent viral tweet by technology entrepreneur Elon Musk. The tweet was not even related to cryptocurrencies in the remotest sense. Musk had only made a joke or, rather, a meme with witty wordplay, with the word being ElonGate. How the term found itself as the face of a cryptocurrency is sure to escape even Musk. Late last month, Musk joked about what he would like people to call a scandal, if there ever is, related to him. If there is ever a scandal about him, Musk pleaded with his followers to call it "ElonGate."