Understand what led Elon Musk to change the Twitter logo

Musk’s move caused the cryptocurrency to reach its highest price point, jumping from 8 to 50 cents, representing an increase of 27%

Twitter dawned with a new logo this Tuesday (4). Instead of encountering the traditional blue bird, which gives the name to the network, users of the platform found a dog of the Shiba Inu breed, which is the icon of the dogecoin cryptocurrency.

In his personal account, Elon Musk, owner of Twitter, explained that the exchange is part of a promise he had made to a user in March 2022.

Musk’s simple change caused the cryptocurrency to reach its highest price point, jumping from 8 to 50 cents, representing an increase of 27%.

The billionaire even joked about the situation and published a photo on his profile that showed the dog being stopped by the police and delivering a document, with the words “an old photo”, showing the old blue bird.

Despite everything appearing to be just a joke, Musk has a controversial relationship with the digital currency in question and is being sued by investors because of three tweets published on his account and which talked about dogecoin.

According to the American press, the owner of Tesla is being accused of having created a pyramid scheme to value the cryptocurrency, harming other people, such as the case of Keith Johnson, who is asking for compensation of US$ 258 billion after having lost a lot of money. with the coin.

In the complaint filed with the Manhattan, New York court in June 2022, Johnson alleged that he was “a US citizen who was defrauded of money” and that the defendants “misleadingly claim that Dogecoin is a legitimate investment when it has no value” .

Musk’s legal team, on the other hand, asked the US court to reject the request and classified the process as “a fantasy work of fiction”, in addition to stating that “there is no way to support the claim that there was fraud due to the messages published on Twitter” .