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Elon Musk accuses Robinhood of being a major Dogecoin whale

Published 02/16/2021, 06:48 PM
Updated 02/16/2021, 07:00 PM
Elon Musk accuses Robinhood of being a major Dogecoin whale

Tesla (NASDAQ:TSLA) CEO Elon Musk has lent his voice to a claim suggesting that Robinhood is the biggest Dogecoin holder.

Responding to a tweet that named Robinhood’s control of Dogecoin as “the only thing preventing [the digital asset] from being acceptably diluted,” Musk opined that the commission-free trading app may actually be a major holder.

As earlier reported by BTC PEERS, Musk criticized the unequal wealth distribution of Dogecoin last week. He went as far as offering cash to top holders to sell their stash. His comments forced the digital currency to lose about 20% of its value. However, the now 13th-largest cryptocurrency by market cap has recovered slightly and is now trading at around $0.053.

Robinhood has come under a lot of intense fire lately. In late January, the trading app restricted GameStop (NYSE:GME) trading when retail traders decided to pump the asset, against the wish of hedge funds that had bet against the stock prices.

Musk has also personally traded words with the founder of Robinhood. During a Clubhouse interview early this month, Musk questioned Vladimir Tenev saying:

Did you sell your clients down the river, or [did] you have no choice?
The richest Dogecoin address currently controls 28.69 percent of the asset’s circulating supply.

Continue reading on BTC Peers

Latest comments

Man Musk really needs a vacation
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