Tesla CEO Elon Musk reminded Twitter followers on Tuesday that despite recent interest in Dogecoin (DOGE), he still lacks formal authority over the project.
Musk responded to a comment on a Doge account. that he believed that he had started running Dogecoin as one of his own companies and that he had become the CEO of the project.
The comment framed Musk’s influence as something to celebrate but the self-proclaimed “dogefather” was a reminder that he’s not really the boss and that no one really answers him.
Please note that Dogecoin has no formal organization and nobody reports to me, so my ability to act is limited
– Elon Musk (@elonmusk) May 25, 2021
“Remember, Dogecoin has no formal organization and nobody reports to me, so my agency is limited.”
The results of a recent survey in Australia showed that more than 50% of respondents believed Musk was the inventor of Bitcoin (BTC).This suggests that your most recent Dogecoin memory may be judged well.
Dogecoin is a cryptocurrency meme that was created for purely humorous reasons. After its release in 2013, the joke eventually faded and the coin disappeared into relative obscurity until Musk came across it in 2020. Musk’s subsequent tweets jumped on the train of a joke more than a decade old and helped add value to DOGE for much of 2021.
Others have blamed Musk for what is perceived as an irresponsible swing in the cryptocurrency markets.. During the market crash in mid-May, a petition was launched on Change.org asking Musk to sell his Bitcoin holdings Get rid of the crypto ball before your tweets cause more unwanted excitement.