Elon Musk Supports Cryptocurrency Over Fiat Money In A Tweet

Elon Musk, the CEO of Tesla and SpaceX, made his views clear in a couple of tweets earlier today: he prefers crypto to fiat currencies.

It began when the world’s richest person tweeted: “Any sufficiently advanced magic is indistinguishable from technology.” This was a riff on science fiction writer Arthur C. Clarke’s famous quote: “Any sufficiently advanced technology is indistinguishable from magic.”

Someone then asked what Musk thought of people who were “angry at him because of crypto,” as he has in the past expressed occasional crypto skepticism, including toward proof of work concepts.

Elon Musk  tweeted: “The true battle is between fiat & crypto. On balance, I support the latter.”

In a thread started started by Musk himself comparing magic to technology where someone asked what he thought about people:

“Who are angry at you because of crypto,” the Tesla Inc. CEO tweeted that the “true battle is between fiat & crypto. On balance, I support the latter.”

Bitcoin rose after Elon Musk’s post to trade at around $38,150 as of 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 elaborated to say that “when fiat currency has negative real interest, only a fool wouldn’t look elsewhere.”

Earlier in the week, Musk had tweeted that he won’t be selling any Dogecoin and he also posted a cryptic image of a dollar bill with a Shiba Inu dog replacing the face of a former U.S. president.

Bitcoin ended the week in volatile territory after a new warning from Chinese officials over cracking down on cryptocurrencies. The earlier selloff on Friday hit Bitcoin believers still fuming after onetime proponent Elon Musk did an about-face and criticized the token for its energy usage.

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