Elon Musk has changed his job title to Technoking of Tesla.

Elon Musk

Elon Musk

The car manufacturer's chief executive - who will retain his position of chief - has dropped the title and given himself a new moniker.

As noted by the US Securities and Exchange Commission (SEC) filing, Tesla's chief financial officer Zack Kirkhorn will now work under the title Master of Coin.

No further statement has been given on the meanings of the new titles.

However, it's thought they could refer to Tesla's recent purchase of Bitcoin.

The firm bought around $1.5 billion of Bitcoin in January.

Musk's car company announced the acquisition and revealed that, one day, the firm expects to accept it as a form of payment.

In a stock market statement, Tesla said: "We expect to begin accepting Bitcoin as a form of payment for our products in the near future, subject to applicable laws and initially on a limited basis."

The announcement prompted a dramatic spike in the price of the cryptocurrency.

Indeed, at one point, the price rose by as much as 17 percent, to reach $44,220.