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Elon Mask Explained Why Crypto is Better than Fiat Money

Elon Musk, one of the most prominent top managers in the world and the head of Tesla, said that cryptocurrency is much better at transferring value than paper money. And bitcoin has a unique structure.


 

In an interview with ARK, the famous CEO said that as a result, cryptocurrencies "bypass" currency controls, and paper money will soon disappear altogether. At the same time, according to Mask, digital currencies cope much better with the transferring value than traditional money.

But cryptocurrencies also have drawbacks. Musk believes that bitcoin mining consumes too much energy. And for Tesla, which develops sustainable energy sources, the entrance to the crypto industry from this side may not be the best "use of the company's resources."

At the same time, Musk is sure that the BTC structure itself is absolutely unique and “brilliant.”

4 months ago

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