Got the dog? – SEC „investigates“ because of Dogecoin tweets from Musk

The successful entrepreneur smiles at the ambitions of the US Securities and Exchange Commission, which is said to have started investigations against him.

After Tesla boss Elon Musk has made a significant contribution through his Twitter activities in recent weeks to the „joke crypto currency “ Dogecoin ( DOGE ) reaching many times its previous record, rumors are now emerging that the American Securities and Exchange Commission the wants to investigate possible influence of the entrepreneur.

While a Musk fan emphasizes the absurdity of such an investigation by saying that this would, figuratively speaking, crown the wild year for the crypto markets so far, the Tesla boss himself speaks up on this tweet

Although Musk had already come into conflict with the SEC over his Twitter statements about Tesla in the past, a re-examination by the agency does not seem to worry him. At that time, both sides had reached an agreement that included fines and strict requirements for communication by the entrepreneur on social networks. Nonetheless, Musk smiles at the prospect of new investigations, rather he even wants them to come.

His fondness for “ dogs & memes “ has recently driven the Tesla boss to twitter about the DOGE. Most recently , he posted a picture showing the mascot of the crypto project on the moon

The moon is a metaphor for the astronomical rise in the price of cryptocurrencies, which is why memes like this are often interpreted as an advocacy of Musk. Accordingly, the “dog coin” rate has not only reacted strongly to its tweets in the past few weeks, but there have also been similar situations before .

The fact that Musk’s “influence” has very real effects on Dogecoin and Bitcoin ( BTC ) was recently even proven in a study by Hamburg researchers . However, it can hardly be separated, which is harmless fun in joy and conscious control . Some observers are of the opinion that the Tesla boss could well get into legal trouble by influencing Bitcoin .

The likelihood that an SEC investigation into Musk’s Dogecoin tweets will be successful, however, is arguably just as small as the DOGE’s chances of becoming a global reserve currency at some point. So the entrepreneur has little to fear, and the crypto community can look forward to more tweets and memes from the “richest person in the world”.