Elon Musk calls BTC an adventurous asset, and Ripple’s management is accused of manipulating the price of XRP

2 min readFeb 19, 2021

Elon Musk called investing in BTC “quite adventurous”

Tesla founder Elon Musk commented on the company’s investment in the main cryptocurrency, making it clear that it was not his decision. He also said that he considered the investment “risky enough.”

“Tesla’s action is not directly reflective of my opinion. Having some Bitcoin, which is simply a less dumb form of liquidity than cash, is adventurous enough for an S&P500 company, ” Musk said.

However, the entrepreneur stressed that BTC is “almost as good as fiat money.” We would like to remind the readers, that in early February Tesla invested $1.5 billion in bitcoin. Tesla plans to integrate BTC as a means of payment for products, according to the company.

SEC: Ripple Top Managers Manipulate XRP Price

The SEC believes that Ripple CEO Brad Garlinghouse and former CEO Chris Larsen played a significant role in launching illegal sales and manipulating the XRP rate. This is stated in the updated claim of the regulator.

“In April 2016, the CFO emailed Larsen and Garlinghouse regarding continued “downward pressure on the price of XRP” and suggested having the Market Maker “adjust down a bit our net sell target for a few days to see if we can help stabilize and/or increase the XRP price”, — says the SEC lawsuit.

Chris Larsen agreed with this proposal. Brad Garlinghouse responded that he is in favor of adjustments, but is “somewhat inclined to be more aggressive.”

Arthur Hayes urged to abandon broker services and start trading cryptocurrency

Former CEO of BitMEX crypto platform Arthur Hayes believes that it is time for traders to abandon securities and broker services and it is time to switch to operations with cryptocurrencies. Hayes addressed a recent GameStop stock incident.

Reddit users have significantly raised the stock price, causing institutional investors to suffer losses. As a result, various services, for example, Robinhood, began to restrict operations with GameStop and tighten requirements for the margin security of transactions.

“The owners of this game did not like the course of events and they began to restrict us so that the stock price would correct. Withdraw all your money from your broker. Stop trading. Stop paying the system that you believe treats you like a second-class citizen. That is opting out, and it is extremely powerful and liberating!”- wrote the former CEO of BitMEX.