Dogecoin is also not his. It came into existence in 2013. Elon’s first tweet about it was in 2020.
If anything, you could reasonably argue that both that department name and his interest in that particular cryptocurrency are based on his affinity for the same original meme. But neither the meme nor the currency belong to him.
Just because he didn’t create the coin doesn’t mean he isn’t responsible for several pump and dump scams that he’s run on the coin.
If I pick a random penny stock and tell a bunch of rubes to buy it and we’ll all be rich, only to sell my shares when they reach a high point, that’s still a pump and dump scam, even if I have no affiliation with the company.
Musk doesn’t own the coin, but he does own the scams he pulled with it.
damnedfurry@lemmy.world 3 weeks ago
Dogecoin is also not his. It came into existence in 2013. Elon’s first tweet about it was in 2020.
If anything, you could reasonably argue that both that department name and his interest in that particular cryptocurrency are based on his affinity for the same original meme. But neither the meme nor the currency belong to him.
Zron@lemmy.world 3 weeks ago
Just because he didn’t create the coin doesn’t mean he isn’t responsible for several pump and dump scams that he’s run on the coin.
If I pick a random penny stock and tell a bunch of rubes to buy it and we’ll all be rich, only to sell my shares when they reach a high point, that’s still a pump and dump scam, even if I have no affiliation with the company.
Musk doesn’t own the coin, but he does own the scams he pulled with it.