Tesla’s 8-K Filing With the SEC Reveals Elon Musk’s New “Technoking of Tesla” Title

By Prashant Jha
Published March 15, 2021 Updated March 15, 2021
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Elon musk cryptotwitter

Tesla’s 8-K Filing With the SEC Reveals Elon Musk’s New “Technoking of Tesla” Title

By Prashant Jha
Published March 15, 2021 Updated March 15, 2021

Tesla, the electric car makers in an unusual 8K Filing with the SEC revealed that the official titles of CEO Elon Musk and CFO Zach Kirkhorn have changed to Technoking of Tesla and Master of Coin, respectively. The official filing read,

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. Elon and Zach will also maintain their respective positions as Chief Executive Officer and Chief Financial Officer.

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The change of titles did not take as many by surprise and Elon Musk’s avid love for memes, but the fact that it was revealed via an SEC filing did really take many by surprise.

The change of titles for Tesla CEO and CFO is presumably based on Tesla’s recent foray into Bitcoin where the company amended their investment policy to make the largest single purchase of $1.5 billion last month. Although Musk is often seen shilling Dogecoin on Twitter because of which he could be questioned by the SEC as well, the decision to buy Bitcoin seemed inevitable.

The Crypto community was already speculating about potential Tesla Bitcoin purchase ever since Musk changed his Twitter bio to Bitcoin.

Tesla Made More From its $1.5B BTC Purchase Than Revenue From Car Sales

Tesla bought Bitcoin worth $1.5 billion for under $40,000 apiece and the top cryptocurrency has already soared to a new all-time high of above $62,000. Tesla has already made over a billion dollars on their $1,5B purchase last month, making it their most profitable investment to date. To understand the extent of profit on Tesla’s Bitcoin investment, the one-month Bitcoin profit is said to be more than their total profits generated from the sale of cars.

Not just Tesla, MicroStrategy, the software giant which is at the forefront of institutional bitcoin adoption has invested just over $2.1 billion in Bitcoin using debt security and treasury cash and their profits from this investment have soared well above 100% in less than a year.

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Disclaimer
The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
About Author
Prashant Jha
1008 Articles
An engineering graduate, Prashant focuses on UK and Indian markets. As a crypto-journalist, his interests lie in blockchain technology adoption across emerging economies.

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