Tesla CEO Elon Musk once again made a statement regarding Bitcoin (BTC).
In a recent tweet on Twitter, Musk described Bitcoin as a bold choice for the S & P500 company while defending Tesla's investment in the crypto currency recently.
According to Musk, Bitcoin is a better form of liquidity than fiat:
"Tesla's actions do not directly reflect my opinion. Having some Bitcoin which is a form of cash that is less ‘stupid’ than cash, is brave enough for an S & P500 firm ”- @elonmusk.
In fact, the individual who is quite famous for liking Dogecoin (DOGE) also claims that he is not an investor but understands that it is an unwise action for anyone who does not explore ‘other places’ in terms of negative real benefits.
"However, when fiat currency has a real negative interest rate, only those who are not smart will not look for other opportunities,"
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
"Bitcoin is almost as bad as fiat money," he said, ending the thread on his Twitter account.
Following Tesla's investment in Bitcoin, most analysts and crypto founders assume the firm's actions will open up new phenomena, attracting more institutional investors to do so.
At the time of writing, BTC is trading at $ 51,852 (RM210,347), down 0.40% in 24 hours.
