Elon Musk’s love affair with cryptocurrency shows no sign of ending after a filing with the United States Securities and Exchange Commission announced the adoption of new official titles for him and a fellow Tesla executive.
Starting Monday, Elon Musk will carry the official title of “technoking of Tesla,” while the firm’s chief financial officer, Zack Kirkhorn, will officially be known as “master of coin.” The 8-K form filed with the SEC states:
“Effective as of March 15, 2021, the titles of Elon Musk and Zach Kirkhorn have changed to Technoking of Tesla and Master of Coin, respectively.”
The filing also states that Musk and Kirkhorn will retain their current respective positions as CEO and chief financial officer.
With no sign of an accompanying tweet that the Tesla CEO has become famous for, onlookers can only speculate as to why Musk and Kirkhorn have adopted the new titles.
In early February, Bitcoin's (BTC) spot price increased by $3,000 in a matter of minutes when news broke regarding Tesla’s acquisition of $1.5 billion worth of BTC, sending the coin's price to a new all-time high in the process.
After a sharp dip in the value of Bitcoin — and Tesla's stock price — the title of “world’s richest man” was briefly lost from Elon Musk’s resume. However, neither Bitcoin nor Tesla spent too long in the doldrums, as a resurgent coin price soon returned healthy profits to Musk and the company. On Saturday, Bitcoin once again soared to a new all-time high when the coin price flirted with the $60,000 range for the first time in its history.