For Elon Musk, having Bitcoin was only « a little better than having conventional cash. » Tesla, his company, invested 1.5 billion dollars in the cryptocurrency.
Elon Musk once again defends the use of Bitcoin, and launched a comparison with conventional money. For the CEO of Tesla, the advantage of cryptocurrency is slight, but valid.
The billionaire issued his comments via your Twitter account. An analyst had expressed doubts about Musk’s promotion to Dogecoin, another cryptocurrency, despite Tesla buying Bitcoin.
« Tesla’s action does not directly reflect my opinion, » said the South African. « Having some bitcoin, which is simply a less silly form of liquidity than cash, is adventurous enough for an S & P500 company. »
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
“To be clear, I am not an investor, I am an engineer. I don’t even own publicly traded stocks, other than Tesla. «
« However, when fiat currency has a negative real interest only a fool would not look the other way, » he said, speaking about conventional money.
“Bitcoin is almost as good as fiat money. The key word is « almost, » he said.
For him, this slight difference makes the cryptocurrency a better asset.
Recall that the businessman, through Tesla, invested 1,500 million dollars in January.
The way in which he made the movement is unknown, whether in a single operation or several. However, it is said that he exceeded the company’s sales in ten days in ten years.
How much is a bitcoin worth today?
The value of the virtual currency exceeded 50 thousand dollars this week. In the last two months it has increased by 60%.
For this one Friday, the value of one bitcoin is $ 52,449.76.
Although some analysts consider that this increase is the product of the confidence that the cryptocurrency is gaining, for others it is the result of a bubble that only continues to grow.
The fact that a businessman like Musk is investing heavily in it opens the doors for others.