Elon Musk continues to be the talk of the town. After pushing the cryptocurrency Dogecoin and investing heavily in Bitcoin, it seems that today the tycoon is also attempting to draw attention to Twitter, which he has already recently taken ownership of. In the past few days, in fact, the official Twitter logo has been replaced with the image of a dog, the logo of Dogecoin.
But what is behind this strange change? Let’s see together what happened and what the consequences might be.
Twitter’s new logo: why a dog?
After symbolically electing his own dog as Twitter’s new CEO, Elon Musk is ready to make waves with a new oddity.
The replacement of Twitter’s logo with that of Dogecoin created a huge wave of speculation on social media. With many people beginning to wonder if there was any connection between the social and the cryptocurrency.
Some experts suggested that Musk may have made a strategic investment in Dogecoin. Which led to the 30 percent jump in the cryptocurrency’s price, before changing Twitter’s logo.
This may have allowed him to gain a significant economic advantage, considering his position as the owner of Twitter.
However, there is still no concrete evidence to support this theory. Others have speculated that the logo change may have been a simple prank. Like many others that have occurred in the past on Twitter and other social networks.
However, the coincidence with Musk’s recent focus on Dogecoin might suggest something more. In any case, it is interesting to note that Elon Musk is at the center of a class action lawsuit regarding Dogecoin. Which has been filed to the tune of $258 billion.
The lawsuit was filed by a group of investors who claim to have suffered losses due to some of Musk’s tweets that pushed the price of Dogecoin up. But only to collapse shortly thereafter.
The only thing certain is that the replacement of Twitter’s logo with Dogecoin’s is just the latest episode in a long series of extravaganzas involving Musk.
What is the connection between Twitter and Dogecoin?
According to Musk himself, the decision to replace the Twitter logo with that of Dogecoin was the result of a promise made on Twitter on March 26 last year.
On that occasion, a Musk follower had proposed that he buy Twitter and use a Doge as his logo. “That would be crazy,” had been the Tesla founder’s response.
Now, Musk claims to have kept his promise.Aand despite accusations of provocation related to the $258 billion lawsuit against him, it seems that one of the motives behind the logo change was just that.
Many cryptocurrency enthusiasts saw the logo change as a signal of support from Musk to Dogecoin. Whose value rose 30 percent in a matter of minutes.
However, others believe the gesture was made to provoke at a time when the economic impact of cryptocurrencies is still uncertain. In any case, Twitter’s logo change has generated some interest. And has once again brought Elon Musk’s name to the forefront of financial news.
It remains to see what the consequences of this event will be. And whether Musk will have other tricks up his sleeve to disrupt the world of cryptocurrencies and finance in general.