Tesla CEO Elon Musk reminded Twitter followers on Tuesday that regardless of the current curiosity he’s taken in Dogecoin (DOGE) he nonetheless has no formal authority over the undertaking.
Musk was replying to a remark from a Doge-themed account which opined that he had taken to working Dogecoin like one in all his personal firms, and that he’d successfully change into the undertaking’s CEO.
The remark framed Musk’s affect as one thing to be celebrated, however the self-proclaimed “Dogefather” issued a reminder that he really isn’t the boss, and that nobody actually solutions to him.
Please word Dogecoin has no formal group & nobody stories to me, so my capability to take motion is restricted
— Elon Musk (@elonmusk) May 25, 2021
“Please note Dogecoin has no formal organization & no one reports to me, so my ability to take action is limited,” wrote Musk.
The outcomes of a current survey carried out in Australia revealed that greater than 50% of respondents believed Elon Musk to be the inventor of Bitcoin (BTC), suggesting that his current Dogecoin reminder could be nicely judged.
Dogecoin is a meme within the type of a cryptocurrency that was created for purely humorous causes. After being launched in 2013, the joke finally pale, and the coin disappeared into relative obscurity till Elon Musk stumbled throughout it in 2020. Hopping on the bandwagon of a joke the perfect a part of a decade outdated, Musk’s subsequent tweets have been credited with pumping the worth of Doge all through a lot of 2021.
Others have attributed blame to Elon Musk for what’s perceived as an irresponsible swaying of cryptocurrency markets. A petition on Change.org was launched amid the market crash of mid-May demanding that Musk dump his Bitcoin holdings and divest himself from the cryptocurrency sphere earlier than his tweets trigger extra undesirable commotion.