It has been reported that SpaceX and Tesla CEO Elon Musk, who bought Twitter for $44 billion, changed the platform's logo. The blue bird logo on the web version of Twitter was replaced with the logo of the cryptocurrency #Dogecoin
After the new logo appeared on Twitter's homepage, there was a 30% increase in the value of Dogecoin, but it soon dropped again. It is believed that the logo change, which occurred approximately six months after Musk bought the platform, was temporary and not coincidental.
Musk is known for his support of Dogecoin and had previously announced that #Tesla products could be purchased with cryptocurrency. He was also sued for allegedly creating a "pyramid scheme" to support Dogecoin with a value of $258 billion.
It is thought that the logo change is a reference to the lawsuit.
There has been no official statement from Twitter on the matter yet. However, Musk tweeted a cartoon in which a Shiba Inu dog, the symbol of Dogecoin, hands over its license to a police officer while driving a car. The license contains the old blue bird logo, to which Musk refers as "that old photo."
Musk also shared a screenshot of a tweet in which he had asked whether there was a need for a new platform before buying Twitter, and a follower had suggested buying #Twitter and changing the bird logo to Doge. Musk captioned the screenshot with "As promised."
