Elon Musk 2nd richest man in the world has just given himself an official new title at Tesla (NASDAQ: TSLA). According to a filing with the Securities and Exchange Commission (SEC), Musk is now the “Technoking”.
The new SEC filing continued, TSLA’s chief financial officer (CFO) Zach Kirkhorn is official titled the “Master of Coin.”. The titles added to the filing were inspired by the television show “Game of Thrones”. The television series Game of Thrones which was based on the book “A Song of Ice and Fire” referenced the royal treasurer as “Master of Coin.”
It is unclear why Musk named himself “Technoking,” but the SEC filing suggests that both Kirkhorn and Musk will keep their CEO and CFO titles. The latest title by Musk isn’t the only weird move he did. In the last few months, Musk named himself CEO of Bitcoin and shared “memes” on his Twitter profile promoting the meme-based cryptocurrency Dogecoin.
Musk’s jokes worried TSLA’s stakeholders for months now. However, the billionaire doesn’t seem to stop himself from making jokes about business, stocks, and cryptocurrencies. Last week, a TSLA investor sued the electric-vehicles manufacturer over what he described as Musk’s “erratic” tweets.
In 2018, Musk stepped down from his role of chairman of Tesla. The CEO of SpaceX, the Boring Company, Neuralink, and TSLA was obliged to step down following a settlement with the Securities and Exchange Commission. The SEC alleged Musk of sharing “false and misleading statements” on Twitter about taking TSLA private.
Bitcoin hits $60,000 — more money to TSLA
In February, TSLA disclosed that it had bought $1.5 billion worth of Bitcoin (BTC). The electric-car manufacturer bought the cryptocurrency when it was trading around $33,000. Few days following TSLA’s investment, the price of the Bitcoin reached new all-time highs to $58,000 before it plunged back to $45,000 due to a severe correction.
Nevertheless, on Saturday, Bitcoin blasted above $60,000 for the first time in history, turning TSLA investment in billions of dollars. The digital token is up 107% year to date and 1000% over the past year.
TSLA stock is trading at $705 a share as of this writing, and the company’s market capitalization is $676 billion — $124 billion down from its all-time high of $800 billion.