FUD alert, many media platforms are reporting this as Elon Musk Not “Owning Dogecoin”, but actually he only denied not owning “Dogecoin wallets” which were part of wallets accused for insider trading.
So, back to proper news. The million dollar class action lawsuit against Elon Musk for insider trading of cryptocurrency Dogecoin took a new turn today. Elon Musk’s lawyer Alex Spiro revealed that Mr. Musk does not own any Dogecoin wallets that were part of price manipulation. Earlier, a class action lawsuit was filed against Elon Musk for allegedly manipulating price of Dogecoin and cashing out $95 Million in pump dump.
Dogecoin Wallets In Lawsuit Does Not Belong To Elon Musk
Elon Musk has publicly promoted Dogecoin on multiple occasions mostly to his large number of twitter followers. It was always believed that the billionaire is actually a Dogecoin holder. The ongoing proceedings in the lawsuit filed against Elon Musk particularly mention dogecoin wallets that benefitted from Elon Musk’s tweets between April 3rd, 2023 to April 9th, 2023.
On April 3rd, 2023 Elon Musk changed twitter famous bird logo to Dogecoin symbol representing a Shiba Inu Dog. This was followed by a massive rise of 25% in Dogecoin price in a single day.
As reported by NY Post, his lawyer today in the court blasted at plaintiff’s lawyer for assuming that the wallet in trial belong to billionaire Elon Musk. He argued that sole basis for the lawsuit is that these wallets belong to Elon and which is in fact wrong.
Does Elon Musk Own Dogecoin?
As falsely reported by many popular publishers, Elon Musk does not own any Dogecoin, but actually as per Elon’s lawyer he does not hold any dogecoin wallets accused for insider trading. He may have other wallets which were never a part of pump dump. So, this FUD that Elon Musk is not owing any Dogecoin may be actually untrue. Elon Musk has actually accepted holding Dogecoin in multiple events.
In a tweet from, October 2021, Elon Musk shared that he own Bitcoin, Ethereum and Dogecoin.
Out of curiosity, I acquired some ascii hash strings called “Bitcoin, Ethereum & Doge”. That’s it.
As I’ve said before, don’t bet the farm on crypto! True value is building products & providing services to your fellow human beings, not money in any form.
— Elon Musk (@elonmusk) October 24, 2021
We will keep you updated as and when we find actual Dogecoin wallets associated with Tesla CEO.
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