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Elon Musk Addresses Criticism Surrounding His Cryptocurrency Tweets

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Thu, 02/11/2021 - 06:13
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Alex Dovbnya
No, Elon Musk doesn't spend his whole time tweeting about crypto
Elon Musk Addresses Criticism Surrounding His Cryptocurrency Tweets
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Contrary to what many might have thought, Elon Musk, the richest man on the planet, doesn’t spend his whole day thinking about Dogecoin.

In a recent tweet, the CEO of Tesla and SpaceX addressed mounting criticism about his frequent cryptocurrency tweets, saying that his behavior on Twitter “definitely” doesn’t represent his real-world time allocation:

Indeed! Tweets definitely do not represent real-world time allocation.

Musk dominates Twitter conversations    

Presently, the Twitter account of the man behind the two of the most revolutionary companies on the planet is teeming with cryptocurrency-related tweets.

As reported by U.Today, Musk sent Dogecoin soaring yesterday once again after revealing that his son, “Lil X,” was a “toddler hodler.”

On the same day, he posted a Bitcoin meme with Chuck Norris and recommended his followers to avoid cryptocurrency wallets “at all costs.”

Earlier this week, Tesla revealed its $1.5 billion Bitcoin purchase, making other corporations consider embracing the cryptocurrency.  

Related
Twitter Considering Adding Bitcoin to Its Balance Sheet, According to CFO Ned Segal

Musk’s tweets could get him in trouble, again

Doug Davison, ex-branch chief of the SEC's division of enforcement, claims that Musk could appear in the regulator’s crosshairs because of his Twitter activity:        

It would not be surprising - given the focus on the chief executive's tweets, Bitcoin pricing and recent dramatic market moves - for the SEC to ask questions about the facts and circumstances here.

The billionaire is no stranger to getting in trouble with the SEC because of his Twitter account. In September 2018, he shelled out $20 million to settle securities fraud charges with the regulator.

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About the author

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets, can be contacted at alex.dovbnya@u.today.