Elon Musk says cryptocurrencies are better than fiat

The founder of Tesla and SpaceX, Elon Musk, assured during an interview that cryptocurrencies are a great alternative, much better than fiat money.

This was stated in a podcast interview that he gave to the investing firm ARK on Tuesday, February 19th.

“The cryptocurrency (the bitcoin) bypasses the currency controls. And the crypto is a much better way to transfer securities than a piece of paper, that’s for sure,” Musk said about the future of his company and digital assets.

Likewise, the CEO of Tesla talked about the reasons why his company stays out of the large-scale application of this technology, considering that they still have many disadvantages.

Musk’s company has always been dedicated to promoting the use of sustainable energy, so investing fully in cryptocurrencies “will not be a good use of Tesla’s resources to get involved in cryptography”.

K. Tovar

Source: ARK Invest

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