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It's not the owner, it's the creator and as of now he's an investor like any other. He's pretty active on Reddit.
I'm not an Elon fan, but he actually was on the receiving end of market manipulation just a few years ago. Have a look at the Tesla Short Squeeze.
To answeer the op i wouldent think it would be any different with steams own crypto.
He's an innovative and motivated jerk. That's a dangerous mix.
- His morals and ethical values are to be questioned
- He attempted to sue an US State to bypass covid lockdown and launch off space junk
- The space junk reflected light too much and became a global eye sore
- He then sold out the Space-X Starlink Internet to the US Military and Government for global spying to help pay for it
- He once called a rescue diver who saved 12 Thai school boys trapped in a cave "the pedo guy"
- He peddled misinformation about the covid in order to push his business and then exploited it to gain even more profits
- He exposed his own Tesla workers to Covid as a result
- Some of his Tesla workers were paid as little as $5
- He then attempted to secure funding to take Tesla private, but got fined for it
- He compromised safety at his factory because he wanted it to look cooler
- He uses market manipulation tactics
- His utopian plan is to move 1 million people to Mars by 2050 and have them owe loans to him which will be required to pay back through work upon their arrival. Cheap labour settlers (indentured servitude) tackles
- He flooded and then screwed up crypto market, able to drop or increase it with a single tweet, which others just leech off or lose everything upon. He wants to wipe out and drop the price of Bitcoin and pump it into a DogeCoin. Just because of scammers, he became a scammer himself. He withdrew his own Tesla sales from using crypto, as he didn't want to be affected by it himself and was the root cause.
- He has donated $150 million, but if he's claimed to be worth $150 billion, that's nothing except a tax write-off?
Between genius and mad-man is actually a thin line. I see pros and cons with him, but other people giving him far too much power and control.
That's not what's going on, it is a much deeper and complex situation than what the news are reporting.
The global market is experiencing serious issues of liquidity and hyper-inflation (again) and the Covid has sped up most of its underlying dynamics. To put things in perspective, the reverse repo has currently a negative interest.
Long story short there are new regulations in place that require banks, hedge funds and market makers to have more liquidity to avoid overleveraging (a constant issue from the 80s), and liquidating large positions in crypto was one the consequences.
If you want to have a deeper look, these are the rules:
Sources:
TL;DR: He's not manipulating the market and the crypto movements are connected to institutions' fallback measures.
Edit: formatting.
Seems Anonymous even agrees with me and warned Elon Musk in regards to the Bitcoin. Seems that Tesla profited more from Bitcoin than the selling of cars and he has over $1.5 billion invested into it, but wants to cut the ties of the carbon footprint damage he's done on the world as a result of it. So he's playing both sides of the market. Dumb but smart.
Fools who believe crypto is the future. Which it isn't.