According to Fox News, on May 11, 2020, Elon Musk reopened the Tesla factory in California in defiance of local COVID-19 restrictions and publicly urged officials to arrest only him if there were consequences. This assertive move by Musk reinforced his public persona as a risk-taker and innovation leader, which has historically influenced both Tesla stock (TSLA) and the broader cryptocurrency market. Traders observed a noticeable increase in social media-driven retail trading and speculative activity in assets tied to Musk, including Bitcoin and Dogecoin, following his high-profile actions (source: Fox News, May 11, 2025). As such, this event is often referenced by analysts as a catalyst for heightened volatility and retail interest in crypto assets with Musk affiliations.