Elon Musk chose cryptocurrency over ordinary money | News | News

Tesla founder and head of SpaceX Elon Musk said on Saturday, May 22, that he prefers cryptocurrency over classic cash. The businessman said this in his Twitter.

“The real battle is between fiat (real money – Ed.) And cryptocurrencies. Ultimately I support the latter, ”Musk wrote, answering a question from one of the users what he thinks of people who are angry with him about cryptocurrencies.

On May 14, Elon Musk announced that he was involved in the development of the Dogecoin cryptocurrency, calling it “a potentially promising project.”

On May 13, Musk announced that Tesla is suspending accepting bitcoins as a means of payment for its cars due to the non-environmentally friendly way of receiving cryptocurrency. At the same time, he noted then that the company will not sell its own bitcoins until their production is carried out using sustainable energy sources.

Earlier, in February, Musk called the current prices of bitcoin and Etherium cryptocurrencies too high. Cryptocurrency, he explained, like ordinary money, is a set of data that avoids the inconvenience of barter exchange. In addition, the businessman noted that cryptocurrency, like any data system, is subject to belated responses and errors.






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