Elon Musk, owner of Twitter, chose a dog as the social network’s new logo on Monday night. But not just any chiba is linked to a cryptocurrency, Dogecoin. The price of the latter rose immediately on Tuesday, April 4th. However, the billionaire has already been prosecuted for promoting this digital token.
Whether as a permanent or a short-lived joke, this decision by Elon Musk to replace the historic blue bird with the Twitter logo sent dogecoin up 21% to nearly 10 cents, according to CoinMarketCap.
sequel after announcement
Technoprophets, high-tech affluence
The Tesla chief, who bought Twitter last October, has long used the platform for self-promotion and humor, sometimes in favor of dogecoin, a highly volatile cryptocurrency that was originally created as a joke.
Complaint against Elon Musk
The billionaire has indicated in the past that he holds part of his fortune in Bitcoin. He also discussed the possibility of using dogecoin for online payments, sparking speculation about his vision of Twitter as a “All in one app”such as WeChat in China, which provides many services.
An investor who lost money betting on dogecoin filed a lawsuit in June 2022 asking Elon Musk and his Tesla and SpaceX companies for $ 258 billion, but the billionaire denied the allegations.
A Philosophical Meditation on Elon Musk with Michael Wessel
In a legal document added to the agenda Friday, his attorneys called the lawsuits A “fantasy story”. “There is nothing illegal about tweeting cheers or funny pictures about legitimate cryptocurrency.”they said.
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Many messages on Twitter
Twitter’s logo change prompted a slew of posts featuring the dog, including from Elon Musk himself. He posted a conversation with a user from last year to his 133m followers, in which he promised to buy Twitter and make a Shiba Inu his logo.
Launched in 2013, Dogecoin was an ironic reaction to two web phenomena: cryptocurrency, which multiplied in the wake of bitcoin, and the montage of a picture of a Shiba Inu dog so popular on the internet.
Elon Musk, from superhero to supervillain in the eyes of Americans
Buoyed by a certain buying frenzy around unlikely values at the beginning of 2021, as well as Elon Musk’s multiple positive messages on Twitter, the price of Dogecoin soared to more than 70 cents in May 2021.
“to cheat”
During a mockumentary, the billionaire sent mixed messages, first calling dogecoin a “An unstoppable financial vehicle that will take over the world”then “to cheat”she bursts out laughing. Then the token started to roll back.
sequel after announcement
From SpaceX to Twitter, what is Elon Musk’s real project?
“The Dogecoin community doesn’t take itself too seriously. They have great memes and love dogs. I also love dogs and memes”The entrepreneur explained in July 2021 during a discussion with Jack Dorsey, co-founder of Twitter, during an online conference.
He continued to philosophize, laughing about the possibility that it might be “A cryptocurrency that started as a joke to mock cryptocurrencies ends up becoming the main cryptocurrency.”. On bitcoin, he confirmed it Buy without speculation.
