The post Is Elon Musk a Dogecoin Whale? Did Musk Sell 1.4 billion worth of DOGE? appeared first on Coinpedia Fintech News
A lawsuit worth $258 billion claims that Tesla’s elon musk
elon musk
founder, ceo at tesla, spacex
Elon Musk is an enthusiastic cryptocurrency believer, quivering the crypto world through his sparkling tweets. He has a complex relationship with cryptocurrencies. His tweets solely are responsible for the crypto volatility. Musk splendidly purchased $1.5 billion in the king of cryptocurrency. He was born on June 28, 1971, and is based in Pretoria, South Africa. His mother is Maye musk and his father is Errol musk, he is a South African electromechanical engineer, pilot, sailor, consultant, and property developer.
He graduated from the University of Pennsylvania, earning a bachelor’s degree in Arts and physics, and the Wharton School, earning a bachelor’s degree in science, and economics. Musk was honored by Axel Springer Award, an annual award given to remarkable personalities who are extremely innovative, build new markets and change markets, shape culture, and confront their social responsibility.
In 1995, Elon Musk and Greg Kouri founded a web software company called ZIP2. The company developed and marketed an Internet city guide for the newspaper publishing industry, with maps, directions, and yellow pages.X.com and PayPal: in 1999, he co-founded X.com which is an online financial service and email payment company. Space X: on 14, March 2002 he founded space x company which provides space transportation services.
On July 1, 2003, he founded TESLA. Tesla is an electrical vehicle and clean energy company which designs and manufactures electric cars, battery energy storage from home to grid-scale, solar panels and solar roof tiles, and so on. His other activities involve SolarCity and Tesla Energy, Neuralink, the boring company, Managerial style and treatment of employee Hyperloop, openAI music, and ventures. Etc. he made $165 by selling PayPal to eBay. And was first listed on the Forbes Billionaires List in 2002, with a total net worth of $2 Billion.
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played a part in a massive Dogecoin pyramid scheme. This revelation has sent shockwaves through the cryptocurrency community and sparked a legal battle. Cryptocurrency influencer Keyur Rohit took to his Twitter handle and explained via a long thread about the lawsuit.
The court documents reveal that Musk allegedly sold a staggering 1.4 billion Dogecoins, amounting to over $124 million, over a two-day period in April. These sales coincided with a Twitter event that gave Dogecoin significant attention, leading to a surge in its popularity. The lawsuit suggests that Musk’s actions were part of a plan to manipulate the market and artificially inflate Dogecoin’s price, causing harm to investors.
Musk’s lawyer has strongly denied the allegations, stating that they lack any basis or merit. The defense argues that Musk’s involvement with Dogecoin has always been transparent and driven by his playful approach to cryptocurrency. “Musk’s lawyer vehemently denies these allegations, calling them baseless and without merit,” he said.
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Musk, known as the “Dogefather” among Dogecoin enthusiasts, often tweets and jokes about the digital asset, creating excitement and speculation within the community. He wrote on Twitter, “The courtroom drama is set to unfold as the judge determines the truth behind Musk’s alleged involvement with #Dogecoin!”
Musk’s tweets have been known to cause fluctuations in cryptocurrency markets, a phenomenon referred to as the “Musk effect.” This has fueled speculation that Musk may secretly hold a good amount of Dogecoin, making him the mysterious “Dogecoin whale” that many have speculated about.
A group of Dogecoin investors has accused Musk of manipulating the market. They claim that his influential position and massive social media following enable him to sway public opinion, thereby boosting the price of Dogecoin.
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