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Elon Musk Says He Supports Cryptocurrencies In Battle With Fiat Money

Elon Musk Says He Supports In Battle With

Elon Musk Says He Supports Cryptocurrencies In Battle With Fiat Money

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

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

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

Musk has previously compared bitcoin to fiat money and often tweets about cryptocurrencies that have sent values for bitcoin and the meme digital currency dogecoin up and down.

In February, bitcoin shot higher after Tesla revealed it had bought $1.5 billion of the and would soon accept it as a form of payment for cars.

However, bitcoin slumped after the billionaire announced in May that Tesla would 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.

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

(Except for the headline, this story has not been edited by NDTV staff and is published from a syndicated feed.)

 

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