Dogecoin Tweets By Musk Reportedly Under SEC Investigation
As we’ve told you earlier today, Tesla CEO Elon Musk has a love-hate relationship with Wall Street, and certainly with the SEC (Securities and Exchange Commission). When he was burning cash back in 2018 and short sellers preyed on his company, Musk released a Hitler-rant video in which he made fun of them.
This was the beginning of a very long love-hate relationship between Wall Street and Musk.
As this site has repeatedly warned, Elon Musk’s repeated tweets about Dogecoin could be seen as market manipulation and according to First Squawk, a website which aims to imitate CNBC program Squawk box, that is exactly what the SEC will now do.
To the moon
If this does result in another slap on the wrist for Musk, it is possible that the Tesla board will decide to intervene once again. The last time the SEC did so was when the billionaire CEO threatened to take the company private at a certain price, after which the stock soared.
Just yesterday, Musk Tweeted a picture of a dog, looking like the Dogecoin dog, planting a flag on the moon, a clear crypto “to the moon” reference.
Many have speculated about whether Musk controls a Dogecoin wallet with some $3B worth of the token inside it. He has referred to Dogecoin whales in recent tweets, saying that he would offer actual cash to take it off their hands, in order to make it a fair market.