September 28, 2021

Elon Musk: ‘Only a fool’ wouldn’t seek non-fiat investments

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On Feb. 19, Musk responded to comments made by Binance CEO Changepeng Zhao to Bloomberg in which CZ expressed his surprise at the Tesla executive’s “gung-ho” pronouncements regarding Dogecoin.

Tesla co-founder and hypothetical Dogecoin (DOGE) CEO Elon Musk has asserted that “only a fool” would not seek out alternative investments to fiat currency given current interest rates on Twitter today.

During the interview, CZ implied that Tesla’s recent decision to invest $1.5 billion or 7.7% of its treasury into Bitcoin (BTC) likely evidenced Musk’s deep support for Bitcoin.

On Twitter, Musk said, “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.”

Responding to the insinuation from Musk that he personally holds DOGE in higher esteem than BTC, Blockstream CSO Samson Mow said, “You’re just sad you didn’t buy sooner.”

However, Musk also asserted it would be foolish not to seek out alternative investments while “fiat currency has negative real interest”:

“When fiat currency has negative real interest, only a fool wouldn’t lookTitle: Elon Musk: ‘Only a fool’ wouldn’t seek non-fiat investments
Sourced From: cointelegraph.com/news/elon-musk-only-a-fool-wouldn-t-seek-non-fiat-investments
Published Date: Fri, 19 Feb 2021 07:12:45 +0000