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Elon Musk says bitcoin is slightly better than holding cash

Reuters2021-02-19

Feb 18 (Reuters) - Tesla Inc CEO Elon Musk on Thursday said that owning bitcoin was only a little better than holding conventional cash, but that the slight difference made it a better asset to hold.

"However, when fiat currency has negative real interest, only a fool wouldn't look elsewhere," Musk said in a tweet. "Bitcoin is almost as bs as fiat money. The key word is 'almost'."

He also defended Tesla's action to invest in bitcoin, saying that the difference with cash made it "adventurous enough" for the S&P 500 company to hold the cryptocurrency.

Tesla's $1.5 billion bitcoin purchase set the cryptocurrency soaring toward this week's record peak above $50,000 while Musk's recent promotion of dogecoin on Twitter also lifted the price of that cryptocurrency.

Bitcoin was steady just below a record peak of $51,284 on Friday.

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

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Comment88

  • Invinciblesx
    ·2021-03-17
    Commento
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  • Invinciblesx
    ·2021-03-09
    Free
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  • Invinciblesx
    ·2021-03-07
    Disciunt
    Reply
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  • Invinciblesx
    ·2021-03-06
    Nice
    Reply
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  • Invinciblesx
    ·2021-03-05
    Nice
    Reply
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  • Invinciblesx
    ·2021-03-04
    Nice
    Reply
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  • Invinciblesx
    ·2021-03-03
    Nice
    Reply
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  • Invinciblesx
    ·2021-03-02
    Nicee
    Reply
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  • JeremiahWoon
    ·2021-02-22
    ??
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  • EzzyDibz
    ·2021-02-22
    Wow
    Reply
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  • Research
    ·2021-02-22
    please like this comment
    Reply
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  • Juucee1813
    ·2021-02-22
    Go btc!!!
    Reply
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  • KLS
    ·2021-02-21
    Buy bitcoin..
    Reply
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  • Joseph91
    ·2021-02-21
    Wow
    Reply
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    • J999
      Cool
      2021-02-22
      Reply
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    • y2k
      Different thing lahh
      2021-02-21
      Reply
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  • TerenceTan
    ·2021-02-21
    "Crypto is almost fiat currency"
    Reply
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    • KLS
      cattttttttt
      2021-02-21
      Reply
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  • ctxion
    ·2021-02-21
    Wow
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  • KCNG
    ·2021-02-21
    Bitcoin will go to the moon
    Reply
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    • KCNG
      Yes
      2021-02-22
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    • WMIING
      Good
      2021-02-22
      Reply
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  • Mesh
    ·2021-02-21
    Nice
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  • Bigray
    ·2021-02-21
    Go Bitcoin! Go Doge!
    Reply
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    • Derekng
      Lol
      2021-02-21
      Reply
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  • Mechanicss00
    ·2021-02-21
    Yes bitcoin is gonna become our future money
    Reply
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