Magda Wierzycka, ane of the richest women in South Africa and CEO of financial services company Sygnia, said Tesla CEO Elon Musk would likely have been investigated by government regarding contempo allegations over his manipulation of crypto prices — if his target had been about anything other than Bitcoin.

In an interview with Bruce Whitfield at the Money Evidence this calendar week, Wierzycka said Musk's recent social media activity on the price of Bitcoin (BTC) should accept made him the subject of investigation by the U.S. Securities and Exchange Commission, or SEC, if Bitcoin were more than of a traditional company. The SEC previously defendant the Tesla CEO of fraud for issuing false and misleading tweets in 2018, and was rumored to be investigating him for his pro-Dogecoin (DOGE) tweets before this year.

"The [Bitcoin] volatility we have seen is an unexpected part of what I would call market manipulation past Elon Musk," said Wierzycka. "If that happens to a listed visitor, he would exist investigated and severely sanctioned by [the] SEC."

According to Sygnia CEO, Musk knowingly pumped upward the toll of Bitcoin (BTC) by writing tweets including those mentioning Tesla'southward $1.5 billion BTC buy, and so "sold a big part of his exposure at the peak." Musk's public statements on Bitcoin as well as him reversing Tesla's position on accepting the cryptocurrency as a class of payment constitutes cost manipulation.

Related: Primal arrogance and greed: Elon Musk slammed for crypto manipulation

Many have criticized Musk for allegedly manipulating the price of Bitcoin and other cryptocurrencies like DOGE through his Twitter posts and public appearance on Sat Dark Alive — the Tesla CEO appeared as a character named "The Dogefather" and referred to the token every bit "a hustle." Concluding week, he too mentioned the project CumRocket (CUMMIES) in a serial of tweets that probable pushed the price of the token 366%, from $0.06 to $0.28.

Though many crypto traders have made gains investing in some of the projects Musk pumps, the allegations over the cost manipulation of Bitcoin — with the largest market place capitalization of all cryptocurrencies — are particularly apropos for some. The price of the crypto asset has fallen more 43% since reaching an all-time high of $64,899 in April, and is $36,870 at the fourth dimension of publication. Notwithstanding, the Bitcoin price dipped as low as $30,000 final calendar month.

"What nosotros accept seen with Bitcoin is toll manipulation past one very powerful and influential individual," said Wierzycka.