Elon 'The Dogefather' Musk Accused of Insider Trading
An ongoing $258 billion lawsuit by company investors now argues that Musk turning the Twitter logo to the fabled shiba inu worked to inflate the crypto price.
gizmodo.com
Elon Musk's behavior around cryptocurrency in recent years has been very suspicious. He has made a number of contradictory statements about cryptocurrency, and his actions have often seemed to be motivated by self-interest rather than by any genuine concern for the environment or the future of cryptocurrency.
For example, in 2018, Musk tweeted that Tesla would start accepting Bitcoin as payment. However, just a few months later, he reversed course and said that Tesla would no longer accept Bitcoin because of concerns about the environmental impact of mining Bitcoin. However, Musk's decision to reverse course came just days after Bitcoin's price had crashed, and I believe that Musk was simply trying to protect his own investment in Bitcoin.
In 2021, Musk again tweeted that Tesla would start accepting Dogecoin as payment. However, it is unclear if Tesla has actually started accepting Dogecoin, and I believe that Musk was simply trying to pump up the price of Dogecoin so that he could make a profit.
Musk's behavior around cryptocurrency has raised a number of questions about his motives. I believe that Musk is simply a speculator who is trying to make money by manipulating the price of cryptocurrency.
Elon Musk is a very influential person, and his tweets can have a significant impact on the price of cryptocurrency.
Musk has a history of making controversial statements, and he has often been accused of manipulating the market.
