Tesla Inc Chief Executive Officer Elon Musk on Thursday claimed that owning bitcoin was only a little far better than holding standard money, however that the slight distinction made it a far better possession to hold.
” Nonetheless, when fiat currency has unfavorable genuine passion, only a fool would not look in other places,” Musk stated in a tweet. “Bitcoin is almost as bs as fiat money. The key word is ‘nearly’.”.
He additionally defended Tesla’s action to invest in bitcoin, claiming that the difference with cash made it “adventurous adequate” for the S&P 500 firm to hold the cryptocurrency.
Tesla’s $1.5 billion bitcoin purchase established the cryptocurrency rising toward today’s record top over $50,000 while Musk’s current promo of dogecoin on Twitter also raised the cost of that cryptocurrency.