Elon Musk’s ability to move cryptocurrency markets with his tweets represents a danger to the average investor, said CoinSwap founder Erik Nurm, but the furor created around the Tesla (NASDAQ:TSLA) CEO’s social media activity could draw more eyes to crypto in the long run.
Nurm pointed out that Musk’s tendency to tweet about Bitcoin (BTC), Dogecoin (DOGE) and other cryptocurrencies began shortly after the Tesla chief was banned from tweeting about his own company by the United States Securities and Exchange Commission.