Tesla names Elon Musk 'Technoking' in latest cryptic regulatory filing

Tesla added "Technoking of Tesla" to billionaire CEO Elon Musk's list of official titles on Monday, in a regulatory filing that also named finance chief Zachary Kirkhorn "Master of Coin"

(Reuters) - Tesla Inc added "Technoking of Tesla" to billionaire Chief Executive Officer 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 explain 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.

Later on Monday, Musk tweeted an animation depicting what appeared to be a golden trophy decorated with coins and accompanied by a pulsing electronic soundtrack.

"I'm selling this song about NFTs as an NFT," the tweet said.

Non-fungible tokens, or NFTs, are a new type of digital asset that is authenticated by blockchain, which certifies its originality and ownership.

Their popularity has exploded during the pandemic, as enthusiasts and investors scramble to spend enormous sums of money on items that only exist online.

The buyer of a $70 million digital-only artwork was named last week by auction house Christie's as a crypto asset investor who goes by the pseudonym "Metakovan."

It was not immediately clear if Musk actually intended to sell the video or the song.

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 5% early in the European day on Monday.

In another statement, Tesla said President of Automotive Jerome Guillen had moved to the role of President for Tesla Heavy Trucking, effective March 11.

"As Tesla prepares to enter the critical heavy trucks market for the first time, Mr. Guillen will now leverage his extensive background in this industry to focus on and lead all aspects of the Tesla Semi program, including the related charging and servicing networks," it said.

Tesla said in January that it will begin deliveries of its long-delayed Tesla Semi in 2021.

 

(Reporting by Akanksha Rana in Bengaluru and Hyunjoo Jin in San Francisco; Additional reporting by Ira Iosebashvili; Editing by Anil D'Silva, David Gregorio and Sonya Hepinstall)