Tesla CEO Elon Musk, the world's leading futurist and entrepreneur, recently broke his silence on Bitcoin. In a podcast interview with Ark Invest, a beginner in the fintech field focused on "disruptive innovation," the so-called "PayPal mafia" member had some well-chosen words on the fiat. Musk also praised the crypto, albeit in a brief comment.
Yet this did not diminish the breadth of his comments, judged cautiously optimistic by most.
Bitcoin is bright enough
Elon Musk, the South African African who has become the most prominent businessman in the world, recently joined Ark Invest's "FYI" podcast. While the discussion focused mainly on Tesla's operations, as well as Elon's views on technology-based autonomy, a question arose about SpaceX's perspective on cryptocurrencies.
He had a few things to say about Bitcoin.
"Paper money is disappearing and cryptocurrency is a much better way to transfer value than bits of paper." – Elon Muskhttps: //t.co/U5qOnM7nBo
– Yassine Elmandjra (@yassineARK) February 19, 2019
According to a report by The Block, which compiled the crypto-centric comments on the payment, Musk explicitly stated that cryptocurrencies were promising.
Asked about it, Musk chuckled, asking his interviewer, "Crypto, seriously?" But it was not a malicious comment. With bursts of laughter, the visionary behind Tesla recalled a moment when he was probably stuck on his Twitter because of an innocuous advertisement "Straight out of the left field" on Bitcoin. Here is the story:
As reported by Live Coin Watch previously, on an October afternoon, Musk made a small advertising spree, noticing openly that he "loved cartoons," Japanese cartoons. In later comments, he emphasized his love for this means of entertainment. Eventually, he tweeted the image of an anime character made by a fan dressed in Bitcoin-clad clothes, with the following message in tandem: "Do you want to buy Bitcoin?"
Some have taken this as a clue that one of its few startups, including Tesla, SpaceX, OpenAI, among others, would make a foray into crypto-currencies. Twitter was a bit more sardonic, blocking Musk from his account in fear that the Internet pillar would be hacked.
According to Ark Invest's interview, Musk sent this laughing image in response to the abundance of Bitcoins and Ethereum's hijackers who were then populating the Web.
While doing this to make fun of this space, he praised Bitcoin, saying his structure was "pretty bright". However, he noted that, from his point of view, crypto-currencies require a large amount of calculation, which means that energy is needed for their security. Musk later dispelled rumors that Tesla would adopt Bitcoin in a certain way, pointing out that it would not be a good use of Tesla's resources.
But, he continued, crypto-currencies are excellent for circumventing exchange controls, as well as restrictions imposed by fiat / paper bills.
Elon Musk & Crypto: A legend in progress
Although Musk openly commented on crypto-currencies on the aforementioned podcast, he mostly kept silent about his reflections on this ecosystem. The participation of the promoter of the electric car in this space probably originated from the role of Musk at PayPal, where he advocated for the facilitation of a global payments ecosystem.
As he left the company after a brief stint, securing millions of dollars in the process, his love for digital currency seemed to remain loyal to him. Although he does not mention Bitcoin publicly until recently, it has long been suspected of closely monitoring cryptocurrencies.
Photographs have even circulated of Musk holding a book with a visual representation of Bitcoin online.
Given his recent comments, as well as his previous experiences with this sector, it is clear that he enjoys some form of appreciation for crypto-currencies. But will he act on his amorous appearance with this space? If so, what form will it take?