Musk’s Bitcoin tweets could land him trouble with regulators, again


Billionaire tech mogul Elon Musk could face the wrath of regulators after ramping up the price of Bitcoin just days before Tesla revealed a $US1.5 billion ($1.9 billion) bet on the cryptocurrency.Mr Musk is likely to be quizzed by the US Securities and Exchange Commission (SEC) over whether Tesla already owned Bitcoin when his intervention on social media sent prices surging, experts said. The world’s richest man, who is chief executive of Tesla and owns around a fifth of the electric car company, propelled the online currency as much as 20 per cent higher on January 29 after he changed his Twitter profile to include “#Bitcoin”.Tesla then revealed in a filing earlier this week that it had bought $US1.5 billion of Bitcoin at some point this year.It is not known if this was before or after Mr Musk’s Twitter activity. He has previously been reprimanded by the watchdog for tweeting…

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