Elon Musk Says He s Cryptocurrency in Battle With Fiat Money 4d5pw Technology News

Musk has previously compared Bitcoin to fiat money and often tweets about cryptocurrencies. 34w3c

By Reuters | Updated: 24 May 2021 09:52 IST

Elon Musk Says He s Cryptocurrency in Battle With Fiat Money

Bitcoin slumped after the billionaire announced in May that Tesla would no longer accept Bitcoin 323f1q

Highlights

Musk has previously compared Bitcoin to fiat money
Musk also called Dogecoin a "hustle"
Musk assured that he has not sold any of his Dogecoin holdings

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Tesla Chief Executive Officer Elon Musk tweeted on Saturday that in a battle between fiat and cryptocurrencies, his is with crypto.

"The true battle is between fiat & crypto. On balance, I the latter," he said on Twitter in reply to a who asked him what his thoughts were about people who were angry at him because of crypto.

Yo Elon what do you think about the peeps who are angry at you because of crypto
— Shifo (@TheRealShifo) May 22, 2021

price in India) up and down.

In February, Bitcoin shot higher after bought $1.5 billion (roughly Rs. 10,990 crores) of the cryptocurrency and would soon accept it as a form of payment for cars.

Elon Musk Impersonators Defrauded Consumers $2mn in Cryptocurrency

However, no longer accept Bitcoin for car purchases, citing long-brewing environmental concerns for a swift reversal in the company's position on the cryptocurrency.

Earlier this month, he also called the cryptocurrency a "hustle" during his guest-host spot on the Saturday Night Live comedy sketch TV show, leading prices to tumble.

Two days ago, Musk assured that he has not sold any of his Dogecoin holdings and will not sell any.

Elon Musk Clarifies Stance On Bitcoin, Says Tesla Not Dumping Holdings

It's Google I/O time this week on Orbital, the Gadgets 360 podcast, as we discuss Android 12, Wear OS, and more. Later (starting at 27:29), we jump over to Army of the Dead, Zack Snyder's Netflix zombie heist movie. Orbital is available on Apple Podcasts, Google Podcasts, Spotify, Amazon Music and wherever you get your podcasts.

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Cryptocurrency Prices across Indian exchanges

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