Tesla’s CEO Elon Musk said, “Tesla’s purchase of Bitcoin (BTC) is not a personal decision.”
On the 19th (Korean time), CEO Elon Musk said on Twitter that “my opinion is not directly reflected in Tesla’s holding of BTC,” and “I decided because holding BTC is better than holding cash.”
“Bitcoin holdings take a form of less stupid liquidity than cash holdings,” he said. “But in the context of negative interest rates applied to fiat currency, it is natural to look for other investment methods unless you are a fool.
“In fact, holding BTC is an adventurous thing for companies in the S&P 500,” he added. “Bitcoin is’almost’ a mess of fiat currency.” At the same time, he picked the keyword for the mention as’almost’. It can be explained by explaining that Bitcoin investment was made because it is less costly than the current cash investment.
In addition, he added, “I’m technically an engineer, not an investor,” he added. “There are no publicly traded stocks other than Tesla.”
Earlier, Tesla revealed that it recently bought $1.5 billion worth of Bitcoin.
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
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