Things have gotten quite strange since the billionaire tech bought Twitter last year. with the latest stunt involving the change of the iconic blue bird logo.
Twitter changed its iconic blue bird logo on Monday to a shiba inu image associated with Dogecoin, the viral meme coin cryptocurrency.
The change was noticed by users on Twitter’s homepage and loading screen, triggering questions and speculation across much of the world.
Shortly after, billionaire owner, Elon Musk, tweeted his explanation using a screenshot from an old conversation with a user on the popular social media platform.
In the interaction, the Twitter user responded to a question by Musk asking whether there is a need for a new platform.
“Just buy Twitter and change the bird logo to a doge,” the user, named Chairman, suggested.
“Haha that would [be] sickkk,” the billionaire responded.
The incident occurred just days after Musk petitioned a court in the US to dismiss a $258bn lawsuit filed against him by Dogecoin investors over an alleged pyramid scheme.
According to Reuters, the plaintiffs claim that Musk knew that the cryptocurrency had no value since 2019, but promoted Dogecoin to profit from its trading.
“Musk used his pedestal as [the] world’s richest man to operate and manipulate the Dogecoin Pyramid Scheme for profit, exposure, and amusement,” the complaint reportedly stated.
It is worth noting that Dogecoin’s sell-off began when Musk appeared on Saturday Night Live and referred to Dogecoin as a “hustle” in a segment.
Lawyers for Elon Musk and Tesla have rejected the allegations made in the lawsuit by Dogecoin investors as a “fanciful work of fiction” over Musk’s “innocuous and often silly tweets” about the cryptocurrency.
Last year, the value of Dogecoin soared after Musk announced that Tesla merchandise could be purchased using the cryptocurrency.
The recent change of Twitter’s logo to Dogecoin’s shiba inu image caused the currency’s value to increase from US$0.079 to US$0.094, reaching its highest value since November 2021.
Meanwhile, an internal memo leak suggests that Twitter’s value is now less than $20bn, which is less than half of what Musk paid for it six months ago.