3 ms·

Elon doesn't have to do anything for a pump and dump to occur - unless Tesla buying somehow becomes considered a pump action; if more gullible people or "amate

by loceng 6y ago

Elon doesn't have to do anything for a pump and dump to occur - unless Tesla buying somehow becomes considered a pump action; if more gullible people or "amateur investors" buy into Bitcoin driving up the price because of whatever reasons, it's not Elon's responsibility to protect them - that is government and the SEC's role. Elon's said "Bitcoin is almost as much bs as fiat money" - so he likely doesn't see that as end up. Because of this I could see Tesla selling $1 billion worth of EVs via Bitcoin, waiting for that to reach $10-$20 billion+ in value - and then slowly selling off say $4 billion worth to prevent a price crash - and then dumping $10B+ all at once as an experiment.

Alupis 6y ago
Perhaps you're right about Bitcoin, but Elon's messaging on Doge Coin was indisputably a Pump-n-Dump scheme. He even egged the SEC to investigate him[1]. Which reinforces my point - actions like this, by today's Tycoons and ultra-wealthy, will usher in a new age of crypto regulations since it is indeed the little guy being hurt by all this. [1] https://markets.businessinsider.com/currencies/news/elon-musk-sec-probe-dogecoin-tweets-would-be-awesome-2021-2-1030128575 https://markets.businessinsider.com/currencies/news/elon-mus...