CEO and founder of Tesla and SpaceX Elon Musk, has officially publicised his belief that cryptocurrency (bitcoin) provides a better alternative to conventional money. When people see Elon Musk, they almost always think about discussing Tesla. However, on Tuesday the media magnet switched it up a little with a different topic, expressing his opinion on cryptocurrencies. His opinions revolve around months of Bitcoin-related tweets that got him banned from the social media platform.
Elon Musk spoke about his Views on his company’s future and answered specific questions on his thoughts concerning bitcoin (cryptocurrency); in a lighthearted podcast interview with the investment, company ARK Invest on the 19th of Feb.
Elon Musk and Bitcoin
Bitcoin is frequently ridiculed by the wider cryptocurrency segment for its older technology in comparison to some of its fresher peers and now Elon Musk; a successive entrepreneur who is rather familiar with controversy has ridiculed the bitcoin cons that infected Twitter and other social networks.
Elon Musk has occasionally spoken about his interest in cryptocurrencies (bitcoin). At one point he was captured holding a book about cryptocurrency, and the online rumour mills went insane, CCN reported.
The ARK Invest interviewers spent most of the approximately 30-minute sit down with Elon Musk asking about Tesla. As soon as that topic was exhausted, one of the interviewers presented the crypto subject.
With that, Musk chuckled, “Crypto! Seriously!”
He then said with a more serious tone;
“I think the Bitcoin structure is brilliant. It seems like there is some merit to Ethereum also, and others. However, I’m not certain if it’s a good use of Tesla resources to get into cryptos.”
Rather than trying to offer its own crypto, Elon Musk said that Tesla is concentrating on sustainable energy.
Elon Musk expressed how they are just trying to fast-track the advances of sustainable energy; therefore One disadvantage of Bitcoin is computational; it is very energy intensive. There should be a kind of limitation on the creation of cryptocurrencies. It is quite an energy exhaustive to create incremental BTC at this point.
He went on to say ;
“It avoids currency controls. Paper money is going to go away, and cryptocurrency is a much better method of transferring value than pieces of paper. That is for sure.”
Musk acknowledged his crypto holdings, tweeting:
“Not sure. I let @jack know, but it is still going. I literally own zero cryptos, apart from .25 BTC which a friend sent to me many years ago.”
The Bitcoin Tweet That Got Elon Musk Banned
Elon Musk made fun of himself a little bit too; He spoke about a tweet he posted about Bitcoin just trying to be funny. However, It backfired and had Twitter banning his account.
Through his amusement, Musk said:
Ethereum and Bitcoin scammers were so extensive on Twitter that I decided just to join in. At some point, I said ‘hey, you want to buy some bitcoin?’ And so my account got suspended. [There is] some automatic rule that if you attempt to sell bitcoin or something. Nevertheless, I was just joking.
Elon Musk even laughed as the interviewer said that in the United States you could not use crypto to buy things such as pizza or coke.
With a little chuckle Musk said;
“It might be for coke.”
The interviewers praised Musk, saying that he’d made the world a much better place.
ElonMusk immediately harkened to a famous line from the comedy show “Silicon Valley,” about making the world a better place.
He laughed, once more and said:
Make the world a better place by mobile, social, crypto!”
What a funny guy, perhaps he has not lost his mind just yet.
Stay tuned for some more juicy crypto updates.