World’s second richest man, Elon Musk, who is a huge promulgator of digital currencies, Bitcoin especially, has described the digital asset as better than conventional cash.
Musk’s Tesla had purchased $1.5 billion worth of the tokens in the previous week and had seen instant success as Bitcoin gained over 10% to an all time high value of over $52,800 as at noon on Friday. The market cap of the total cryptocurrency market has also exceeded $1.6 trillion, another record.
“Tesla’s action is not directly reflective of my opinion. Having some Bitcoin, which is simply a less dumb form of liquidity than cash, is adventurous enough for an S&P500 company,” wrote Musk, replying to a tweet by Bloomberg.________________________________________________________________
>Do You Want To Receive Update As Soon As We Publish? join our Telegram Channel stay updated with the latest headlines--CLICK HERE
“To be clear, I am *not* an investor, I am an engineer. I don’t even own any publicly traded stock besides Tesla. However, when fiat currency has negative real interest, only a fool wouldn’t look elsewhere. Bitcoin is almost as bs as fiat money. The key word is ‘almost’.”
He insinuated that both currencies were unstable but that Bitcoin remained the lesser evil.
Following a surprise loss in stocks of Tesla, Musk had earlier in the week lost the richest man title to Amazon CEO, Jeff Bezos.
◊SPONSORED ♦◊ On February 25, 2021, Mitrobe network will be hosting a special training session on Cryptocurrency, Crypto Trading Basics with Binance and how to profit massively from market volatility. Also, how to master pair to pair (P2P) trading ,withdraw and deposit monies to your bank account without hitches. --CLICK HERE TO JOIN US
◊Register Your Business Name and Company With CAC and Get it in less than 2 weeks--CLICK HERE
◊ Get Free ₦1,000 plus 5% - 15% interests on savings and over 35% return on investments: Create a Free Account on PiggyVest --CLICK HERE
◊Join the Best P2P Crypto Exchange site REMITANO, Get Up to 33% Off remitano.com Deals/Orders --CLICK HERE