CEO of Sygnia Limited accuses Elon Musk of Market and Price Manipulation


Chief Executive Officer of Sygnia Limited, a financial services company, Magda Wierzycka has bashed American billionaire investor, Elon Musk, for his role in Bitcoin’s latest price fluctuations.

“What we have seen with Bitcoin is price manipulation by one very powerful and influential individual,” Magda Wierzycka complained.

Magda who is one of the richest women in SA, appeared on the Money Show and expressed her disdain at Musk’s social media antics.

Magda Wierzycka argued that the US Securities and Exchange Commission needs to investigate Elon Musk.

“The [Bitcoin] volatility we have seen is an unexpected function of what I would call market manipulation by Elon Musk,” Wierzycka explained before suggesting that the Tesla CEO could have been sanctioned under different circumstances. “If that happens to a listed company, he would be investigated and severely sanctioned by [the] SEC,” Wierzycka said.

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