Tesla CEO Elon Musk reminded Twitter followers Tuesday that despite his recent interest in Dogecoin (DOGE), he still lacks formal authority over the project.
Musk responded to a comment from a Doge account saying he ran Dogecoin like one of his own businesses and effectively became the CEO of the project.
The comment framed Musk’s influence as something to be celebrated, but the self-proclaimed “dogefather” recalled that he is actually not the boss and that no one really responds to 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
The results of a recent survey in Australia showed that more than 50% of respondents believed Musk was the inventor of Bitcoin (BTC), suggesting that his recent memory of Dogecoin might be well judged.
Dogecoin is a meme in the form of a cryptocurrency that was created for purely humorous reasons. After launching in 2013, the joke eventually faded and the coin vanished into relative darkness until Musk stumbled upon it in 2020. Hopping on the train of a joke for most of a decade, Musk’s subsequent tweets were credited with pumping the value of DOGE for much of 2021.
Others have blamed Musk for what is perceived as irresponsible fluctuations in the cryptocurrency markets. A petition was launched on Change.org during the market crash in mid-May, urging Musk to sell his bitcoin holdings and separate himself from the cryptocurrency sphere before his tweets cause more unwanted excitement.