Elon Musk manipulated the US stock market through his tweets about Tesla, and faced strict investigations and penalties from the Securities and Exchange Commission. But he quickly learned his lesson and headed to the crypto market, which is devoid of strict laws and regulations.
In the digital currency market, there is no oversight or consequences. Here, Musk plays as he pleases:
🔹 Raise currencies with a simple tweet.
🔹 Lures simple traders.
🔹 Takes money indirectly.
His acquisition of Twitter was a step to strengthen his control, as the platform began indirectly promoting tweets about Bitcoin and digital currencies within just two months of the acquisition, appearing on the public timeline.
This is no coincidence. It is a well-thought-out plan to attract the world to the crypto market, and lure small traders to make a quick profit. For Musk, the market is a game that he controls with the simplest tools, growing his wealth while everyone else is panting after a mirage.