'I pump but don't dump' bitcoin, says Musk

Bitcoin advocate Elon Musk says he is personally invested in a range of cryptocurrencies, countering accusations that he manipulates the market. — AFP

Tesla founder Elon Musk said Wednesday he personally has invested in bitcoin and other cryptocurrencies but that he does not manipulate or "dump" the digital currencies.

In a wide-ranging online panel discussion that included Twitter and Square founder Jack Dorsey, Musk said he believes in cryptocurrencies as a way to "increase the power of the individual in relation to government," and that he has invested in ethereum and dogecoin in addition to bitcoin.