Bitcoin is printing fresh all-time highs with its market cap well-above the $1 trillion mark and the asset may have billionaire tech entrepreneur Elon Musk to thank
In a new set of tweets, the Tesla chief executive responds to a Bloomberg interview of Binance CEO Changpeng Zhao to explain why the electric car company decided to add Bitcoin to its corporate treasury.
“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.
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 keyword is ‘almost.’”
The SpaceX head also changed his Twitter avatar into a Bitcoin anime “just for a day.”