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“Pyramid scheme” doesn’t really seem to be the correct terminology here.
Elon obviously pumped Dogecoin, but I think he was just trying to be funny.
RT:
Billionaire Tesla CEO and crypto enthusiast Elon Musk has pledged to keep supporting Dogecoin, in spite of a lawsuit that was filed against him earlier this week alleging that he ran a pyramid scheme to promote the token.
In a complaint filed in a federal court in Manhattan on Thursday, crypto investor Keith Johnson accused Musk of intentionally driving up the price of Dogecoin with his remarks on the crypto coin, only to allow the price to drop and make a profit on the difference.
“Defendants were aware since 2019 that Dogecoin had no value yet promoted Dogecoin to profit from its trading. Musk used his pedestal as World’s Richest man to operate and manipulate the Dogecoin Pyramid Scheme for profit, exposure and amusement,” the complaint said, as cited by Reuters.
Elon has always wanted to be cool and funny, and he’s sort of struggled with it a lot until recently, when he started posting much better memes.
He hasn’t sold his Bitcoin, and that’s the only thing I care about.
The Dogecoin thing was annoying and retarded, but frankly anyone who held it long term deserved to get wiped out.
Did you guys see this Project Veritas leak of Elon’s meeting with Twitter staff, where he just sputtered nonsensically and didn’t even give them the respect of answering their questions coherently? They asked him why he wanted to buy Twitter and he said “I like memes.”
The whole thing was like “you people are all getting fired anyway, I refuse to take this meeting seriously.” He almost certainly leaked it himself.
