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06 March 2021

Elon Musk says only a "fool" wouldn't look into Bitcoin | CryptoSlate

Elon Musk says only a "fool" wouldn't look into Bitcoin | CryptoSlate


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Elon Musk says Bitcoin is a better alternative to store value than fiat money, as per a tweet today.

“When fiat currency has negative real interest, only a fool wouldn’t look elsewhere,” Musk said.

Such a statement meant that Bitcoin was not necessarily different than how fiat money operates in the world, i.e.

With that in mind, Bitcoin is the same, ideologically speaking, but features like privacy, security, immutability make it a better form of money for some.

He said he “wouldn’t short Bitcoin,” adding that “moving money into a more digital form and getting transaction costs down” was a beneficial technology (he didn’t refer to cryptocurrencies)

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