Why can’t this dude just shut up? That’s what people, including the SEC, want to know. But look, he just can’t. Apparently, no one can take his Twitter account away from Elon Musk, and Tesla isn’t putting it under adult supervision, as the SEC has suggested. So he was at it again today, responding to accusations by Magda Wierzycka, CEO of South African tech and financial services firm Sygnia, that he’d pumped up the price of Bitcoin by tweeting all manner of things, and then “sold a big part of his exposure at the peak.”
Over the past two months, the price of Bitcoin plunged from about $64,800 to around $33,000 at the low and now hovers at $39,000, after the current Musk-induced spike, with the plunge leaving a big-fat question market over his assertion that Bitcoin could be “liquidated easily without moving market.”“Tesla only sold ~10%” of its Bitcoin Holdings: Musk Speaks, Bitcoin Moves. But it Takes Two to Tango | Wolf Street
Sounds a lot like pump and dump… totally illegal, but when billionaires do it, that’s just fine.