Ilona Musk: “Cryptocurrencies are not perfect. But nothing better has been invented “

  • In a recent interview, Max talked about cryptocurrencies and finance in general
  • He considers fiat money an obsolete phenomenon
  • Musk called cryptocurrencies “a technology of the future and a mine of wealth”

Tesla CEO Elon Musk spoke again about cryptocurrencies. This time – in an interview with journalist Lex Friedman.

In his opinion, cryptocurrencies are not perfect, but they are “fundamentally better” than any other financial product … Despite frequent criticism of Bitcoin, he considers BTC to be the best way to store wealth. But Dogecoin is more suitable for payments.

“Look at money not as power”

Elon Musk once again criticizes the traditional financial model and fiat money. He considers them to be the main source of inflation. By contrast, cryptocurrencies are a technological innovation that “takes us to 22 century “.

The billionaire is sure that money should be viewed not as a way of power, but “through the prism of information theory.” The technology behind cryptocurrencies has become the most efficient form of transaction:

“Think of money as a database that allocates resources over time and space. I am not saying that this cryptocurrency is a perfect system. But she’s so much better than anything I’ve seen. “

Bitcoin vs. Dogecoin

Musk again compared the two most popular cryptocurrencies, Bitcoin and Dogecoin. According to him, “dog currency” is ideal for daily payments because it has a low transaction cost.

At the same time, bitcoin is a mine of wealth.

“People want to keep it, so in the future bitcoin will probably go up in value.”

See also: Bitcoin – totals 2021 of the year


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