Elon Musk is again tweeting about technology and cryptocurrencies, and this time he understands where his support lies.
In a thread started by Musk comparing magic to technology, in which someone asked what they think of people who are “angry at you about crypto,” the CEO of Tesla Inc. tweeted that the “real battle.” between fiat and crypto is. All in all, I support the latter. ”
The real battle is between Fiat & Crypto. All in all, I support the latter.
– Elon Musk (@elonmusk) May 22, 2021
Bitcoin rose according to Musk’s Post, trading at around $ 38,150 as of 12:27 p.m. London time.
Musk has made similar comments, including in December when he tweeted, “Bitcoin is almost as bad as fiat money.” In February he stated, “If the fiat currency has a negative real interest, just a fool wouldn’t look elsewhere.”
Earlier this week, Musk had tweeted that he would not be selling 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 about crackdown on cryptocurrencies. The earlier sell-off on Friday hit Bitcoin believers who were still angry after one-time proponent Elon Musk turned around and criticized the token for its energy consumption.
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First published: Sat, May 22, 2021. 7:17 pm IST