Elon Musk Could Face SEC Investigation Over Teslaâs Bitcoin Buy, Lawyers Warn
The U.S. Securities and Exchange Commission (SEC) could investigate Elon Musk over Tesla’s $1.5 billion bitcoin purchase, some legal experts have warned, including a former SEC enforcement officer. Given the timing of Tesla’s bitcoin purchase and Musk’s multiple tweets on the subject, some say that the SEC will look into the matter.
Elon Musk Could Face an SEC Probe
Regulators could probe Tesla CEO Elon Musk over his company’s bitcoin purchase, the Telegraph reported Tuesday. Last week, an SEC filing reveals that Tesla bought a substantial amount of bitcoin in January. “We invested an aggregate $1.50 billion in bitcoin … we expect to begin accepting bitcoin as a form of payment for our products in the near future,” the filing reads.