Is Elon Musk The Next Wolf of Wallstreet as SEC could Investigate Him Over His Recent Bitcoin Purchase
The U.S. Securities and Exchange Commission also referred to as SEC could investigate Elon Musk over Tesla’s recent $1.5 billion bitcoin purchase.
According to some legal experts, including a former SEC enforcement officer have all warned Elon; They suspect that SEC might soon look into the matter with the given timing of Tesla’s bitcoin purchase and Musk’s multiple tweets on bitcoin.
According to reports from Tuesday, Regulators could possibly probe Tesla’s CEO Elon Musk over his company’s bitcoin purchase. SEC filing reveals that Tesla the month of January bought a substantial amount of bitcoin. The reports read, “We invested an aggregate $1.50 billion in bitcoin … we expect to begin accepting bitcoin as a form of payment for our products in the near future,”
A partner at Linklaters and a former branch chief of the SEC’s division of enforcement, Doug Davison explained the matter: 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.
Musk has been tweeting about dogecoin and bitcoin. Musk on January 26 changed his Twitter profile to just say “#bitcoin” and then tweeted, “In retrospect, it was inevitable.” He then again a few days later publicly endorsed bitcoin, stating that the cryptocurrency “is a good thing,” and that “bitcoin is really on the verge of getting broad acceptance by conventional finance people.”
Vitor Constâncio, ex-vice president of the European Central Bank (ECB) in a tweet: “It was not disclosed when Tesla had made this investment. In December, Musk said that Tesla could buy bitcoin, and this was followed by many statements that he supported bitcoin.” “Bitcoin kept going up & Tesla investment has appreciated. The SEC will look into this.”
