{"id":44396,"date":"2021-06-15T18:23:38","date_gmt":"2021-06-15T15:23:38","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=44396"},"modified":"2025-08-31T16:48:33","modified_gmt":"2025-08-31T13:48:33","slug":"opinion-elon-musks-tweets-are-dangerous-for-investors-but-beneficial-for-the-industry","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/opinion-elon-musks-tweets-are-dangerous-for-investors-but-beneficial-for-the-industry\/","title":{"rendered":"Opinion: Elon Musk&#8217;s tweets are dangerous for investors, but beneficial for the industry"},"content":{"rendered":"<p>Elon Musk&#8217;s ability to influence the cryptocurrency market with his tweets poses a danger to retail investors, said Erik Nurm, founder of the DeFi platform CoinSwap. Cointelegraph reports this <a href=\"https:\/\/cointelegraph.com\/news\/elon-musk-the-hero-crypto-deserves-but-maybe-not-the-one-it-wants-says-exec\">Cointelegraph<\/a>.<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>\u201cElon manipulates the market, creating <a href=\"https:\/\/ru.wikipedia.org\/wiki\/FUD\">FUD<\/a> around Bitcoin. He is playing the same game as with the stock market. After the Securities and Exchange Commission [SEC] prohibited him from tweeting about Tesla, he shifted his attention to the digital-asset market,\u201d he said.<\/p>\n<\/blockquote>\n<p>According to Nurm, in the long run Musk\u2019s impulsiveness benefits the cryptocurrency industry by drawing attention from a large number of people.<\/p>\n<p>The founder of CoinSwap recalled an incident involving the CumRocket Crypto (CUMMIES) token from the adult-content industry. In early June, the billionaire posted a clip with the words \u201cCanada, USA, Mexico,\u201d after which <a href=\"https:\/\/u1f987.com\/en\/news\/elon-musk-tweets-about-bitcoin-again-market-falls\">the coin rose by more than 85%<\/a>.<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>\u201cHis attempts to pump up the prices of certain tokens, such as Dogecoin and, more recently, CumRocket, are potentially more dangerous, as these obvious <a href=\"https:\/\/u1f987.com\/en\/news\/what-is-pump-and-dump\">Pump &#038; Dump<\/a> schemes could leave ordinary people without a livelihood,\u201d Nurm said.<\/p>\n<\/blockquote>\n<p>On June 14, Musk posted a tweet stating that Pluto takes 248 years to orbit the Sun, while Uranus takes only 84 years. As a result, the price of the Uranus cryptocurrency (URAC) rose nearly threefold, according to <a href=\"https:\/\/www.coingecko.com\/ru\/%D0%9A%D1%80%D0%B8%D0%BF%D1%82%D0%BE%D0%B2%D0%B0%D0%BB%D1%8E%D1%82%D1%8B\/uranus\">CoinGecko<\/a>.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">Pluto takes 248 years to orbit the sun, but Uranus only takes 84<\/p>\n<p>\u2014 Elon Musk (@elonmusk) <a href=\"https:\/\/twitter.com\/elonmusk\/status\/1404351360644964355?ref_src=twsrc%5Etfw\">June 14, 2021<\/a><\/p><\/blockquote>\n<p> <script async=\"\" src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>In the autumn of 2018, the SEC <a href=\"https:\/\/u1f987.com\/en\/news\/experts-assess-the-implications-of-teslas-bitcoin-investment\">accused Musk of fraud<\/a> after his tweet about plans to take Tesla private, buying out shares at $420 apiece. As part of a settlement, he stepped down as chairman, paid a fine, and agreed to have public statements about the company reviewed by lawyers.<\/p>\n<p>In June 2021, media reports stated that, in the regulator\u2019s view, the billionaire <a href=\"https:\/\/u1f987.com\/en\/news\/media-elon-musk-breached-court-imposed-tweet-restrictions\">twice violated this agreement<\/a> \u2014 in July 2018 and May 2020.<\/p>\n<p>Earlier, on June 14, Musk announced that <a href=\"https:\/\/u1f987.com\/en\/news\/bitcoin-rises-12-on-the-back-of-elon-musks-latest-tweet\">Tesla would resume selling electric cars for Bitcoin<\/a>, if at least half of the miners switch to renewable energy. The price of digital gold rose by 12%.<\/p>\n<p>Subscribe to ForkLog news on <a href=\"https:\/\/vk.com\/forklogcom\" target=\"_blank\" rel=\"nofollow noopener\">VK<\/a>!<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Elon Musk&#8217;s ability to influence the cryptocurrency market with his tweets poses a danger to retail investors, according to Erik Nurm, founder of the DeFi platform CoinSwap.<\/p>\n","protected":false},"author":1,"featured_media":44397,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[1217,1145,1138],"class_list":["post-44396","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-elon-musk","tag-market-analysis","tag-opinions"],"aioseo_notices":[],"amp_enabled":true,"views":"20","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/44396","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=44396"}],"version-history":[{"count":1,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/44396\/revisions"}],"predecessor-version":[{"id":44398,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/44396\/revisions\/44398"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/44397"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=44396"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=44396"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=44396"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}