The Chief Executive Officer of Sygnia, a financial service firm, Magda Wierzycka asserted that Elon Musk, Tesla’s Chief Executive Officer, was supposed to have been interrogated by regulators concerning the present accusations on him for manipulating crypto values. According to Magda, Bitcoin has witnessed a very high price manipulation by a prominent personality.
In a session at the Money Show with Bruce Whitfield, Magda claimed that the recent reactions by Musk on the social network which has greatly Influenced the value of BTC are enough for him to be summoned and interrogated by the United States SEC. The Securities and Exchange Commission formally charged Musk with deception for giving fake and deceitful comments on Twitter three years ago. There has also been gossip that he has been under investigation for comments on Dogecoin.
Magda noted that the recent change in the value of BTC is an unanticipated result of Musk’s influence, which should have attracted serious penalty by the SEC had it been that crypto was an authorized firm. According to her, Elon intentionally raised the value of BTC by his statements on Twitter regarding his enormous purchase of Bitcoin such as the $1.5 billion BTC bought by Tesla. His open comments on Twitter concerning Bitcoin and his recent withdrawal of crypto as an acceptable form of payment for his company led to price manipulation in the crypto market.
Lots of investors have lambasted Elon for putatively influencing the value of BTC and other digital currencies via his persistent tweet and open presence on Saturday Night Live, where he was identified as ‘The Dogefather’ and he described the token as ‘a hustle.’ Previously, he spoke of the CUMMIES, a CumRocket project, in a succession of comments which possibly raised the value of the token from $0.06 to $0.28.
Even though lots of investors profited from the price manipulation, for some people it is a thing to worry about. The worth of the crypto stock has declined remarkably from $64,899 to $36,870. But as of last month, the value of BTC declined to $30,000.
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