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.
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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.
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