Elon Musk tweets he supports crypto in battle against fiat currencies, Energy News, ET EnergyWorld
Elon Musk is tweeting about tech and cryptocurrency again, and this time he’s clear where his support lies.
In a thread started by Musk himself comparing magic to technology where someone asked what he thought of people “who are mad at you because of crypto,” the CEO of Tesla Inc. tweeted that “the real battle is between fiat and crypto. Overall, I support the latter.
Bitcoin rose after Musk’s post to trade at around $ 38,150 at 12:27 p.m. London time.
Musk has made similar comments before, including in December when he tweeted that “Bitcoin is almost as bs as fiat money.” In February, he explained that “when fiat money has negative real interest, only a fool wouldn’t look elsewhere.”
Earlier in the week, Musk tweeted that he would not be selling Dogecoin and he also posted a cryptic image of a dollar bill with a Shiba Inu dog replacing the face of a former US president.
Bitcoin ended the week in volatile territory after another warning from Chinese officials over the crackdown on cryptocurrencies. The previous sale on Friday hit the still furious Bitcoin believers after former promoter Elon Musk flip-flopped and criticized the token for its energy consumption.
– With the help of Joanna Ossinger and Vildana Hajric.