Was it really just a show of force? It remains unclear what Elon Musk wanted to achieve with the exchange of the Twitter symbol. One thing is certain: the bird is back.
Everything back to normal: Twitter has its usual logo back. Since Friday, the blue bird can be seen in the profiles again, which has been replaced by the symbol of the digital currency Dogecoin for several days. The swap demonstrated how Twitter-Owner Elon Musk can make any changes to the platform.
The tech billionaire referred to a tweet from a user who suggested a year ago that instead of founding his own online service, Musk should just do it Twitter buy – and replace the logo with the Dogecoin icon. He bought Twitter in October 2022 for around 44 billion dollars (40 billion euros).
The cryptocurrency with the image of a dog as its logo is controversial. It was originally intended as a joke, but Musk, among others, had made it better known with frequent tweets. After a brief rise in price, the crash followed.
An investor then sued Musk, alleging he was part of an illegal Ponzi scheme in which the price of Dogecoin was boosted and then crashed. Musk’s attorneys last week filed for the lawsuit to be dismissed, reiterating that the cryptocurrency is a legitimate investment with a total value of around $10 billion.
After the logo swap at Twitter the Dogecoin course temporarily jumped by around a third. Even after that, however, a unit of the digital currency only cost around 10 US cents. At its peak in spring 2021, it was over 60 cents for a short time. On Friday, the price fell back to the 8 cent mark.
(APA/DPA)