December 11, 2023

Nouriel Roubini accused Elon Musk of “manipulating the crypto market”

Nouriel Roubini accused Elon Musk of “crypto market manipulation”

Nouriel Roubini, an economist and prominent Bitcoin critic, believes that Elon Musk's tweet about Bitcoin isa form of "market manipulation" and the SEC should investigate.

“His behavior is irresponsible and constitutes market manipulation. The Securities and Exchange Commission should investigate people who influence the market and manipulate the price of assets." 

Rubini criticized Elon Musk afterTesla announced a $ 1.5 billion purchase of bitcoin and said it plans to accept digital currency as payment for cars. This news triggered a record surge in the price of bitcoin to $ 48,000 per coin.

Even before news of Tesla's investment became public, Musk added the word Bitcoin to his Twitter header and wrote, "Looking back, it was inevitable." 

Last December, the price of BTC jumped sharply after Musk posted a meme stating that he was tempted to buy Bitcoin.

Rubini claims that Musk's tweets violate SEC rules on market manipulation and require an investigation by the department.

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