He also dropped hints about MarsCoin
Elon Musk: ‘Bitcoin is less dumb than cash’. Source: unsplash.com
Today, Elon Musk, Tesla CEO has noted on Twitter that corporations are better off holding Bitcoin as opposed to cash.
This comes with the current low-interest rates markets. Elon’s comment, however, is not a reflection of Tesla’s purchase.
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”.
— Elon Musk (@elonmusk) February 19, 2021
— Elon Musk (@elonmusk) February 19, 2021
While he is still uncertain about Bitcoin, he terms cash as silly and Bitcoin as almost fiat money.
Prior to that, in a response to Changpeng Zhao, Binance CEO, Elon affirmed that cryptocurrencies will be availed to Mars.
Elon, who is an advocate and admirer of Dogecoin pointed out that the meme-inspired digital asset is over concentrated. In a move to remedy the situation, Musk would even spend to void major Dogecoin holders’ accounts.
In a solution offered to the problem, a new coin referred to as Elon Coin would be created and distributed to non-dominant DOGE holders. Zhao claims the new initiative should be referred to as MarsCoin.
There will definitely be a MarsCoin!
— Elon Musk (@elonmusk) February 16, 2021
However, there is already a MarsCoin. Developed in 2014, the $MARS project has been trading below $0.09 the day before Elon Musk’s tweet. With the price rising, $MARS has recorded an all-time high of $2.50 on February, 14. At the moment of publishing this article, the price has been around $0.27.
We’ve reported that Elon Musk’s Tesla bought $1.5 billion of Bitcoin.
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