Tesla Inc. said Chief Executive Elon Musk has changed his title at the company to “Technoking of Tesla,” extending an irreverent streak in the 49-year-old’s leadership of the electric-vehicle maker.
The company also said Chief Financial Officer Zach Kirkhorn will have the title of “Master of Coin.” Both Mr. Musk and Mr. Kirkhorn will maintain their respective positions as CEO and financial chief, according to a regulatory filing with the Securities and Exchange Commission on Monday.
The company didn’t explain the meaning of the titles and didn’t respond to an inquiry. Mr. Kirkhorn’s new title might carry echoes of Tesla’s ambitions around cryptocurrency. Earlier this year, Tesla said it had invested $1.5 billion in bitcoin and that it aims to start accepting bitcoin as payment from car buyers.
Over the weekend, bitcoin crossed $60,000 for the first time Saturday before falling back. A steady stream of institutional demand has been credited with driving much of bitcoin’s rally since the start of 2020, when it traded near $7,000.
Other companies have also embraced bitcoin in recent months. Square Inc., which shares bitcoin advocate Jack Dorsey as its CEO with Twitter Inc., acquired about $50 million worth for its corporate treasury in October. Bank of New York Mellon Corp. said it would start treating bitcoin like any other financial asset, and Mastercard Inc. said it would integrate bitcoin into its payments network this year.
