Elon Musk Welcomes Bitcoin and Dismisses Paper Money

Elon Musk Welcomes Bitcoin and Dismisses Paper Money

We all know that Bitcoins and cryptocurrencies are the future; but this time, Tesla and SpaceX’s CEO Elon Musk agreed with that statement as he affirmed that Bitcoin is an improvement from tradicional paper notes.

According to an interview published by advisory services ARK Invest’s, Musk said that the Bitcoin structure is “quite brilliant,” thought mining bitcoin is expensive in terms of energy needed to produce and to increase the platform.

Tesla’s CEO affirmed that digital assets are “a far better way to transfer value than pieces of paper.” Musk said he has no plans to involve Tesla in the mining business. However, it would be good to involve Tesla resources in the crypto industry.

However, they have enough on their plate as they “are just really trying to accelerate the advance of sustainable energy.”

Musk also considers that it may not be “a good use of Tesla infrastructure to get into crypto as energy necessities are huge.

He also thinks that Tesla as a sustainable company is good for a digital economy but not that good for bitcoin mining. 

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