Tesla CEO Elon Musk has gone over to the camp of crypto critics. Today he called Bitcoin a risky asset, and Tesla’s purchase of BTC was allegedly independent of Musk’s decision.
Recently, the head of Binance cryptocurrency exchange Changpeng Zhao expressed surprise at Musk’s “fanatical” statements regarding Dogecoin cryptocurrency, while Tesla invested $ 1.5 billion in Bitcoin. Musk responded in the comments that Tesla’s actions did not reflect his personal opinion.
Musk explained that he is an engineer, not an investor, and apart from Tesla, he has no shares listed on the stock market. In addition, Musk called Bitcoin a “less wacky” form of liquidity compared to cash. However, investing in bitcoin is a risky business even for companies from the S & P500 index. At the same time, Musk is convinced that today “only a fool” will not seek an alternative to fiat currencies, given the current interest rates.
“Bitcoin is almost the same crap as fiat currencies. The key word is “almost,” Musk tweeted.
To be clear, I am *not* an investor, I am an engineer. I don’t even own any publicly traded stock besides Tesla.
However, when fiat currency has negative real interest, only a fool wouldn’t look elsewhere.
Bitcoin is almost as bs as fiat money. The key word is “almost”.
— Elon Musk (@elonmusk) February 19, 2021
A few days ago, Musk warned on Twitter about the high concentration of Dogecoin at several addresses. Musk invited large DOGE holders to sell most of their coins. When Musk hinted that he values Dogecoin more than Bitcoin, Blockstream’s director of strategic affairs Samson Mow replied, “You’re just sad that you didn’t buy Bitcoin sooner.” However, the Tesla executive finds it strange that an encrypted text file using cryptography can be exchanged for real goods and services.
Earlier Musk said that cryptocurrencies are used as a “bridge” between criminal money and laundered, so digital assets are unlikely to become the main means of payment.
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