Elon Musk’s Twitter Activities Could Draw SEC Attention if Market manipulation is Perceived

By: Mark Jessy

Elon Musk’s Twitter Activities Could Draw SEC Attention if Market manipulation is Perceived

February 11, 2021 7:39 AM


Tesla CEO Elon Musk has been bullish with his Twitter activity which in most cases has spiked the price of Bitcoin and Dogecoin.
 

Lawyers have warned that Elon Musk's crypto bullish tweets could attract the attention of the U.S. Security and Exchange Commission (SEC).

 

The Ex-branch chief of SEC's division of enforcement, Doug Davison told the UK's Telegraph newspaper.


"It would not be surprising, given the focus on the CEOs recent tweets, Bitcoin spectacular price movement for the SEC to ask some questions about the fact here,"

European Central Bank Ex-Vice President, Vitor Constâncio added: "SEC will look into this,"

 

Following Tesla's $1.5B Bitcoin purchase and the fact that it will soon start accepting BTC as a means of payment according to a SEC filing, bitcoin price went on a frenzy run to a new all-time high just over $48k.

 

Musk in recent times on Twitter has been shilling Doge and Bitcoin, for Doge it has been a case of experiencing a spike in price after the world's richest man's Twitter activity. He has also had a major influence on the BTC bull run.

 

Commodity Futures Trading Commission and SEC can investigate should they perceive market manipulation.

 

Elon Musk's influential tweets to his over 46M followers, in less doubt, have contributed to this latest price spike in Doge as the (meme) coin continues to grow into the Top 10 most valuable cryptocurrency