Elon Musk’s Bitcoin and Dogecoin Tweets don’t break rules — Heres why

Unlike the stock market where these type of comments can have people put in jail or heavily fined, Elon's tweets on cryptos are completely legal thanks to murky legal rules.

In February of this year, it was reported the Elon was under investigation by US regulators over his Twitter comments on the cryptocurrency dogecoin. His reply on this investigation was “I hope they do! It would be awesome”. In a 2018 interview with Bloomberg, Elon said he “does not respect the SEC, but would comply with the law if ordered to”. Following rules and never rocking the boat for a man that has created such immense wealth and progress in the industries he has working in such as aerospace, automotive and banking has shown to be a hard task.

So in his recent comments on bitcoin, which sent bitcoin down 17%, lawyers have stated that the wording was carefully crafted and Elon would not be in any trouble for the comments.

The same way he recently crashed the price of bitcoin he also managed to pump the price 20% when he added the hashtag bitcoin to his Twitter bio.

Is it market manipulation?

The main issue is that Musk has a massive following which is sometimes referred to as cult-like. With 54 million followers on Twitter alone…