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Elon Musk defends Tesla bitcoin investment

Elon Musk took a stand in defense of Tesla investment in bitcoin (BTC). In an interview with Bloomberg, Binance’s CEO, Changpeng Zhao, said he was surprised by the billionaire’s stance on dogecoin (DOGE) while he chooses to invest in another cryptocurrency.

It didn’t take long for Musk to reply on Twitter: “Tesla’s action is not directly reflective of my opinion. Having some Bitcoin, which is simply a less dumb form of liquidity than cash, is adventurous enough for an S&P500 company. ″ (Stock market index based on the biggest stock exchange companies).

“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’.” clarifies Musk.

Zhao refers to the $ 1.5 billion bitcoin investment that Tesla announced on February 8. At the time, the asset soared and its price broke new records. In addition, Elon Musk’s electric car company has revealed that it will now accept payments in bitcoin.

3 thoughts on “Elon Musk defends Tesla bitcoin investment”

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