Post
Topic
Board Bitcoin Discussion
Re: Tesla and market manipulation crime
by
kryptqnick
on 08/05/2021, 16:00:05 UTC
What Tesla did with bitcoin could be considered market manipulation, and that's a serious crime considered by the US government. The fact that the company invested $1.5B and make it public that bring a lot of investors to bitcoin, and after that, we see how bitcoin has a crazy jump in the prize, and now they sold the 10% when bitcoin was on its ATH.

As a reference, I will leave this link: https://www.fbi.gov/scams-and-safety/common-scams-and-crimes/market-manipulation-pump-and-dump-fraud

So, the question is, did tesla make market manipulation and you think the company will be charged for it?
Honestly, I didn't know that pump and dump was illegal. I mean, surely it's a morally questionable and harmful strategy, but making it illegal seems a little far-fetched to me. And isn't it what guys on Wall Street do all the time? Isn't it how trading largely works?
In any case, Tesla invested in BTC and announced it. This definitely doesn't qualify as anything illegal. And any company has the right to cash out on investments whenever they see fit.
Besides, Bitcoin is not low on trading volume, so I don't think investments into it can lead to legal action.