INX Limited CMO Douglas Borthwick on bitcoin, Dogecoin and what cryptocurrencies investors should pay attention to.
Billionaire Elon Musk said on Thursday that he would accept an investigation by the Securities and Exchange Commission (SEC) in his tweets about the cryptocurrency meme Dogecoin.
The CEO of Tesla and SpaceX was responding to a tweet from a Musk fan account.
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“The SEC investigation into a dog meme sent by a memer about a memecoin is at its peak in 2021,” wrote @RationalEtienne, who has more than 19,000 followers.
“I hope so! It would be amazing,” Musk replied with two emojis crying and laughing.
Speculation about an investigation by US regulators about his posts was sparked by a tweet from a financial news agency called First Squawk, according to Newsweek.
In its own tweet, First Squawk wrote that “SEC DISSERVED TO INVESTIGATE THE BOSS OF TESLA, EXECUTIVE MUSK FOR ITS TWEETS IN DOGECOIN”, according to “FAMILY SOURCES WITH THE MATTER”.
Musk has repeatedly mentioned Dogecoin in recent weeks to his more than 48 million followers.
On Wednesday, Musk tweeted a photo of Dogecoin Shiba Inu planting a Dogecoin flag “on the real moon” – causing the Dogecoin price to rise again – and on February 21st he posted the phrase “Dojo 4 Doge”.
Earlier this month, Musk said he bought some for his 9-month-old son, X Æ A-Xii.
In addition, on February 8, Tesla announced in a SEC lawsuit that it had purchased $ 1.5 billion in bitcoins.
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No investigation was confirmed by the commission.
However, Musk has a dubious past with the SEC.
In 2018, he was fined more than $ 20 million and forced to step down as Tesla’s chairman after tweeting that he had “guaranteed financing” to shut down the electric car maker for $ 420 a share.
The announcement caused Telsa’s shares to rise, but the SEC said Musk had not forced funding for the alleged business and the rocket scientist admitted that he chose $ 420 to make a joke about marijuana.
In an interview with “60 Minutes” later that year, Musk said he did not respect the agency and tweeted in the summer of last year: “SEC, three letter acronym, middle word is Elon.”
However, speaking at the Clubhouse app in late January, Musk said that his Dogecoin jokes “are actually meant to be just jokes”.