Elon Musk: Mr. Pump & Dump

Why is Elon not banned from Twitter？

Three years ago, Elon Musk infamously tweeted he was taking Tesla Public.

It all started in 2018 when Elon tweeted he was “considering” taking Tesla private and indicated he had “funding secured”.

This tweet sparked a firestorm on social media and prompted the SEC (Securities and Exchange Commission) to launch an inquiry into the matter. As an officer or director of a public company, there are rules on what can be said to the public.

Did Elon Musk mislead investors？

Knowingly or unknowingly, the immediate consequence was a boost in the price of Tesla. The tweet sent the stock up 11% and had even caused a halt in trades for a portion of the day.

According to the SEC, a crime was committed and Elon Musk was charged with securities fraud for misleading tweets.

In the words of the SEC, Steven Peikin, Co-Director of the SECs enforcement division,

“Corporate officers hold positions of trust in our markets and have important responsibilities to shareholders”

Additionally…

“An officer‘s celebrity status or reputation as a technological innovator does not give license to take those responsibilities lightly…. Taking care to provide truthful and accurate information is among a CEO’s most critical obligations.”

Does Elon Really Care？

As a billionaire leading the technocratic future, one would think he would aspire to a higher level of ethics and conduct. However, in Elons own words, his disrespect for the security commission and its rules is clear.

During a 60 minutes interview, a few months after the event, Elon is quoted as saying:

“I have no respect for the SEC [Security Exchange Commission]”

— Elon Musk

Two years later, his sentiment hasn‘t seemed to change after he gratuitously tweeted, “SEC, three-letter acronym, middle word is Elon’s”

Elon Tweeting to Crypto

It would seem Elon‘s use of Twitter to sway the market wasn’t just focused on Telsa. In early 2021, he set his sights on cryptocurrency.

With a following of over 40 million people and the rather small (relative) market capitalization of cryptos, its not rocket science to know his words would have an impact on the market.

In early January 2021, Elon Musk changed his Twitter bio to include #bitcoin, which many analysts believe helped to pump the price of BTC price to an intraday high of over $38,000.

A little later in the following month (February), in an SEC filing, Tesla announced that it had purchased $1.5 Billion in Bitcoin and also said that it would start accepting Bitcoin as a method of payment for its products.

Elon‘s tweets regarding Bitcoin were making many investors worried, claiming that Elon’s involvement in the market has boosted the price of Bitcoin by +20%.

On March 24, 2021, Elon Tweets “You can now buy a Tesla with Bitcoin”

A few months later, Elon tweets that Telsa will not be accepting Bitcoin as a payment method, stating environmental concerns and effectively causing a market drop in the price of Bitcoin 12%.

Was this his first pump and dump？ His antics were not just limited to Bitcoin, he has also been influencing other cryptocurrencies too.

He tweeted Doge, and it went up 20%.

Crimes Against Crypto

Elon‘s tweets in and around cryptocurrency have got many investors upset and worried. Even the vigilante hacking group “Anonymous” posted a video online with a few words to say about Elon’s actions.

“It seems that the games you have played with the crypto markets have destroyed lives.”

So…Why does Elon still have a Twitter？

For some reason, we live in a world where the President of the United States is censored by Twitter 111 times, but a CEO accused of securities fraud for using Twitter is still allowed to continue this behavior？

For lesser crimes, many individuals have been prosecuted and jailed.

Why is Elon not in Jail？

Well, it may have a lot to do with who he is.

Who Is Elon Musk Anyway？Elon is the Poster Child for the Future

Elon is leading the technocratic future and the poster child for the future. He is the face leading humanity into the technological future.

Maybe he is the poster child for the future. Maybe not. Either way, the point is and will always be - Do your own research and form your own opinion.

Just because some guy on Twitter tweets, doesnt make him an expert.

Technology has given us, especially celebrities, a voice to communicate ideas and beliefs to the world at large. At no other time in history have people had such large podiums to voice their opinion from.

Probably the greatest skill we can all learn in these technological times is the skill of forming an independent opinion through the use of well-developed critical thinking.