Tesla Billionaire Elon Musk Issued Serious Bitcoin Warning Over Price Boosting Tweets – Forbes


Elon Musk, the billionaire chief executive of electric car-maker Tesla TSLA , shook Wall Street this week when he revealed his company had bought $1.5 billion of bitcoin.

The bitcoin price has surged in recent weeks, partly due to Musk’s pro-bitcoin tweets—at one point sending the price of bitcoin almost 20% higher.

Now, lawyers have warned Musk, whose fast-and-loose Twitter persona has landed him in hot water with regulators before, could face questions from the U.S. Security and Exchange Commission (SEC) over “the facts and circumstances” of Tesla’s bitcoin-buy.

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