Tesla CEO Elon Musk was involved in another Twitter storm overnight, tweeting that Bitcoin is “almost as BS as fiat money” in spite of Tesla’s recent $1.5 billion investment.
“Tesla’s action is not directly reflective of my opinion.” Musk wrote in response. “Having some Bitcoin, which is simply a less dumb form of liquidity than cash, is adventurous enough for an S&P500 company.”
“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’”