Elon Musk is reportedly under investigation by US financial regulators over his frequent Twitter posts relating to the fringe cryptocurrency dogecoin. The Securities and Exchange Commission (SEC) has previously monitored the SpaceX and Tesla founder’s online activity over concerns that his tweets could impact share prices and other markets. The massive jump in the price of Dogecoin coincided with Tesla’s tweets. Elon Musk has been actively tweeting about cryptocurrency since his frim Tesla made a massive investment in the leading cryptocurrency.
Elon Musk is not worried about the investigation.
Tesla CEO is not worried about the SEC investigating him over his Dogecoin tweets. “I hope they do! It would be awesome,” Elon Musk tweeted on Thursday. When questioned by one of his 48 million Twitter followers why he tweeted about Dogecoin so much, Musk replied: “I love dogs and memes.” Dogecoin is a cryptocurrency based on a meme. Elon Musk had jokingly tweeted about this cryptocurrency several times in the past, which coincided with the price of movement of the coin.
Bill Gates warns bitcoin buyers to watch out if they are not rich like Elon Musk.
Microsoft founder Bill Gates had earlier warned would-be Bitcoin buyers looking to follow Elon Musk’s investment strategy. Speaking to Bloomberg’s Emily Chang, Bill Gates suggested Musk has access to sophisticated trade management techniques that the average investor isn’t privy to. When asked about the susceptibility of Bitcoin to tumble in price in reaction to a mere tweet, Gates said Elon Musk was probably insulated from such market crashes. Bill Gates said, “Elon has tons of money, and he’s very sophisticated, so, you know, I don’t worry that his Bitcoin would randomly go up or down.”