Labor’s Ex-Secretary States that Markets May Get Seriously Affected by Musk Tweets

Robert Reich, the former Secretary of Labor, has pointed out Elon Musk for his activities on social media saying that markets are being disturbed by his tweets just like the other billionaires’ market manipulation that is not held accountable.

Prof. Reich, on 5th June, has expressed his point of view about Musk’s tweets stating that there is nothing funny about them. He moves further by disclosing that Musk, in his updates of social media, advocates certain cryptocurrencies. Most significantly, Dogecoin (DOGE, an altcoin inspired from a meme) has correspondingly shown an extraordinary advancement in the current year. CUMMIES, the token for an adult NFT platform CumRocket, had been supported by Musk subsequently. Because of this, on 5th June, the price of coin touched $0.219 according to the records being three times higher than that which was at the start of the day $0.06.

Musk’s tweets, he said, are also to be responsible for the peaks of DOGE at the beginning of May and before that throughout April. After the appearance of Tesla CEO on a night show on 8th May, the altcoin acquired the present ATH of $0.73. Together with the other corrosive viewpoints about the CEO, he further referenced a Journal article of 1st June from Wall Street. The article described, as argued between the SEC (Securities and Exchange Commission) representatives, that the court orders were violated two times by Musk through tweets. The Personals of commission linked the policy of court requiring the pre-approval of the Twitter activities of Musk by the company lawyers.

“Anonymous” threats Musk

The reports, on 5th June, revealed that Elon Musk had been threatened by Anonymous (a hacktivist group of international level) through video stating their frustration about the attitude of the CEO and its impact on cryptocurrency and an average workman. The group expressed that a lot of investors, for making advancement in their lives, trust depends on their crypto holdings, but Musk’s tweets are comprehensively influencing the digital asset prices to ruin the expectations of struggling people. It further accused the CEO of the mockery of middle-class people.

BTC: not to get disappointed

Currently, it seems to be a temporary low mark for BTC, but in the long run, the scenario reflects a very positive perspective as it is high than its value in the last year. Nayib Bukele (president of El Salvador), in his Miami conference, expressed his attentions to make legal tender for BTC on the approval of the decision by the congress. Provided the first country will be El Salvado to approve BTC as an official currency all around the world.


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