Elon Musk said that now “only a fool” is not looking for an alternative to paper currencies for investment

Elon Musk said that now “only a fool” is not looking for an alternative to paper currencies for investment

Elon Musk said that due to the rapid depreciation of fiat money, now “only a fool” is not looking for other options for investment.

He said this while responding on Twitter today to a comment from the CEO of Binance about Musk’s fanatical commitment to Dogecoin.

In an interview with Bloomberg, Cheinpeng Zhao expressed his surprise at the overly support of the head of Tesla for the meme-based cryptocurrency project and the huge investment in Bitcoin.

Elon Musk responded by stating that the $ 1.5 billion purchase by BTC reflects more than his views. He does not deny that the allocation of a part of the investment portfolio for cryptocurrency is associated with a certain risk, but considers this form of investment less stupid than keeping cash.

Adding that during a fiat depreciation, only a fool would not look for alternatives, and bitcoin is almost as good as paper money.

At the same time, Musk is far from alone in his views. A recent Gartner study found that one in 20 business leaders plans to invest a portion of the firm’s funds in BTC in 2021.

, Getty Images

Elon Musk said that now “only a fool” is not looking for an alternative to paper currencies for investment

Leave a Comment

nine  ×  one  =