Tesla Inc added “Technoking of Tesla” to billionaire Chief Executive Elon Musk’s list of official titles on Monday in a regulatory filing that also named finance chief Zachary Kirkhorn “Master of Coin”.

The electric-car maker did not elaborate on the reasons for the cryptic new titles. Last month, Tesla revealed it had purchased $1.5 billion of bitcoin and would soon accept it as a form of payment for cars, sending the price of the world’s most popular cryptocurrency soaring.

Musk’s recent promotion of dogecoin on Twitter has also lifted the price of that cryptocurrency.

Bitcoin hit new highs of near $62,000 over the weekend but retreated around 5pc early in the European day on Monday.

Published in Dawn, March 16th, 2021