AUSTIN, Texas (KXAN) — After being spotted around Austin during the Thanksgiving holiday, we now know why a statue of Elon Musk on a rocket was created and delivered to the Tesla factory in Texas.

Cryptocurrency.

The creators of the Elon GOAT cryptocurrency reportedly paid $600,000 for the statue to be built, according to the Wall Street Journal. The statue is Musk’s head on the body of a goat, riding a rocket.

The coin’s website stated the statue made a tour through “several U.S. states” before it was delivered to Tesla’s Giga factory in Austin on Nov. 26 during an event the coin creators called “Goatsgiving.”

The designer of the monument, Danny Wang, took video of the statue and shared it with Storyful.

Why was the statue made?

“We built Elon Musk a $600,000 monument on the back of a semi trailer in honor of his many accomplishments and commitment to Cryptocurrency,” the $EGT website reads.

There’s definitely a promotional aspect to the statue.

The cryptocurrency’s founders hope this massive monument will pique Musk’s interest and generate some attention for the Elon GOAT currency, according to the coin’s website.

As of Monday afternoon, Musk hasn’t publicly acknowledged the statue.

The Tesla and Twitter boss has shown his “commitment” to crypto in a variety of ways.

In March 2021, Musk announced U.S. buyers could buy Teslas with Bitcoin.

He shared his support for the Dogecoin cryptocurrency boom in 2021 through multiple channels, even talking about the alt-coin during an appearance on Saturday Night Live.