Elon Musk has distanced himself from cryptocurrencies despite being one of the most influential people influencing their prices.

To the disappointment of many, Elon Musk He no longer wants to be the crypto influencer he seemed to be just a year or a few months ago.

Given the storm of volatility and the steep drop we are experiencing in the world of cryptocurrencies, it seems that the billionaire wants to take a step back.

We were recently able to learn about the millionaire demand he is currently facing from dogecoin investors. We are talking about one class action filed Thursday in a Manhattan court by a dogecoin investor who accuses Elon Musk, Tesla and SpaceX of running an illegal company with which they seek to inflate the price of the cryptocurrency they hold.

And the fact is that every time he posted a tweet about this cryptocurrency, prices skyrocketed. Just remember the 20 percent surge he experienced in late December 2021 when he tweeted that Tesla was going to support dogecoin as a form of payment.

A few days ago, he tweeted that the accumulation of Dogecoin will continue even after the collapse of memcoin in the cryptocurrency market. This tweet caused the price of Dogecoin to rise by 6%.

It is for all this that he is accused of controlling the ups and downs of the price and is liability for damages among investors who have lost money.

Mask, moreover He claims to only own a small amount of Bitcoin, which we all already know is a lie. There is enough evidence in the cryptocurrency market that Elon owns more than a small amount of bitcoins.

The recent $1.5 billion bitcoin investment for Tesla has made Elon Musk one of the largest bitcoin investors in the global market.

He even mentions that he never said to invest in dogecoin or bitcoin in his tweets, and he is certainly right about that. Musk never urged crypto investors to bet on this or that in his cryptic tweets, so it can be said that this is an influence based on trust, and not on the words of a guru.