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October 4, 2022
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Elon Musk: “Bitcoin is almost as bad as fiat money”

Ten days after buying $ 1.5 billion of Bitcoin (BTC), Tesla CEO Elon Musk made some criticisms against Bitcoin (BTC).

Elon Musk’s comments came in response to an interview by Bloomberg. The Bloomberg article shares the views of Binance’s CEO, Changpeng Zhao (CZ), about his surprise that Elon Musk likes Bitcoin so much. In conversation with Bloomberg, CZ said:

“I am surprised that Elon is so excited about Dogecoin – but this is a decentralized and free world, anyone can like anything.”

Elon Musk responded via Twitter, implying that Bitcoin is similar to fiat currencies, albeit a little better. In addition, he also noted that Tesla’s decisions are not entirely his own.

“Tesla’s shares do not directly reflect my opinion. Having a bit of Bitcoin is simply a less stupid form of liquidity than money, and it is adventure enough for an S & P500 company.

To be clear, * no * I’m an investor, I’m an engineer. I don’t even have publicly traded shares other than Tesla.

However, when the fiat currency has negative real interest, only a fool would look elsewhere.

Bitcoin is almost as bad as fiat money. The key word is “almost”. “

Well, this is not the first time that Elon Musk has called Bitcoin “bad”. On a tweet in December 2020, Musk wrote exactly the same words.

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