Bitcoin prices jumped nearly 5% after the eccentric Tesla billionaire’s tweet.
As the cryptocurrency market’s weeks-long rut continues, Tesla’s billionaire CEO Elon Musk took to Twitter Sunday afternoon to refute claims that he engaged in a bitcoin pump-and-dump scheme earlier this year and said the electric-vehicle company would once again invest in the world’s largest cryptocurrency once its mining operations constitute a « reasonable » amount of clean energy usage. « The volatility we have seen [in bitcoin] is an unexpected function of what I would call market manipulation by Elon Musk, and if that happened to a listed company he would be investigated and severely sanctioned by the SEC, » Wierzycka said Wednesday, likely referring to the fact that the SEC only has regulatory authority over securities—and not currencies. The SEC defines market manipulation as the « iIntentional or willful conduct designed to deceive or defraud investors by controlling or artificially affecting the price of securities.
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USA — Financial Musk Denies Bitcoin ‘Pump And Dump’—And Says Tesla Will Resume Transactions Once...