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According to the US economist, Elon Musk is committing market manipulation and the SEC should monitor it

ccnews24.net 11 February 2021 09:15, UTC
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How Elon Musk recently promoted cryptocurrencies is not correct and borders on manipulation, says Nouriel Roubini.

The current situation on the crypto market is largely influenced by the statements and behavior of several important personalities, and one of them is Elon Musk.

As you probably know, Elon Musk first changed his twitter bio to #bitcoin, which caused immediate excitement in the market, and Bitcoin increased its price by several thousand. This unusual promotion was subsequently clear to everyone when a document emerged that Tesla had invested $ 1.50 billion in Bitcoin.

The acclaimed American economist Nouriel Roubini, who did not hide his outrage, therefore looked at these events. In an interview with Coindesk, Nouriel Roubini said that the U.S. Securities and Exchange Commission should monitor such influential people as Elon Musk, as such behavior borders on market manipulation.

The New York University economics professor did not stay only with Elon Musk and did not spare criticism for MicroStrategy CEO Michael Saylor, whose behavior he described as irresponsible.

N. Roubini also warned against Bitcoin, which could collapse as a result of the Tether and Bitfinex case if an indictment was made this year. At the same time, however, the American economist is fully aware of the importance of digitization and predicts the disappearance of cash and the emergence of the “e-dollar.”

Read also: The Fear & Greed Index has reached historical levels of greed at 95

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