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Elon Musk is creating a storm in the highly volatile cryptocurrency market with his cryptic tweets and comments on Dogecoin and Bitcoin. The crypto influencer is fearing nothing despite facing a lawsuit worth US$258 billion from Dogecoin investors. He even wants to still support the memecoin in this crypto crash ecosystem in the crypto market. Recently, Elon has mentioned that he wants to wash his hands off the volatile crypto market while having a very little amount of Bitcoin.
It is very much impossible for Elon Musk, CEO of Tesla and SpaceX, to have a little amount of Bitcoin in his crypto wallet. The crypto market has sufficient data that Elon owns more than a little Bitcoin, as per his saying. Elon even mentioned that he has never said to the crypto market to invest in a cryptocurrency like Bitcoin or Dogecoin. Apparently, he just posted cryptic tweets to control the cryptocurrency prices in the highly volatile environment.
Elon is called by multiple names such as crypto influencer, Dogefather, and many more. But he has started denying that he did not tell any crypto investor to invest in the crypto market. Tesla and SpaceX have a small percentage of Bitcoin from the total cash assets in the entire business. Recently, he tweeted that he will continue the accumulation of Dogecoin even after the crypto crash of the memecoin in the crypto market. This tweet influenced the Dogecoin price to rise 6% to drive some profit in the crypto wallets of crypto investors.
A lawsuit of US$258 billion has been charged against Elon Musk, alleging him to be part of the crypto pyramid scheme and manipulating the crypto prices for his benefit all the time. He was accused of pumping Dogecoin when it has no fundamental value in the crypto market.
Meanwhile, the recent investment of US$1.5 billion of Bitcoin for Tesla has made Elon Musk one of the largest Bitcoin investors in the global crypto market. But the statement is technically true on behalf of Elon — he did not comment on any straightforward investment suggestion or order on his cryptic tweets for crypto investors. Thus, it is a wonder and a big question how these millions of people started following Elon Musk as a crypto influencer to invest in a cryptocurrency such as Bitcoin and Dogecoin.
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