Cryptocurrency

Elon Musk, “he is not here nor there in Bitcoin”

Elon Musk, the famous CEO of Tesla, revealed what is your real opinion about Bitcoin. While he explained that he was not in favor of or against the digital currencies, has focused on its use for illegal activities. The billionaire has been posting controversial tweets about the criptomoneda the last few days. In fact, the January 10, you made a publication ensuring that “Bitcoin is *not* my sure word”, confusing many of his followers. Especially taking into account that in 2019 made a publication similar to, but ensuring that “the criptomoneda was his word secure.” It is for this reason that last January 20, Elon Musk decided to reveal your true feedback through a podcast. During the podcast touched on several points, as the beginnings of Musk in the financial industry and his perspective on the industry cryptographic.

Elon Musk reflects on the industry cryptographic

In the interview, mention was made of one of the first companies of Musk, called X.com in 1999. His goal at that time was to create an online bank. After some mergers, the company became PayPal. However, the CEO of Tesla said the following:

“If PayPal would have executed the plan I wanted to run, I think that would probably be the most valuable company in the world.”

But then the interviewers asked what was their opinion with respect to the cryptocurrencies, because, in a certain sense, was a similar idea to that of X.com. To this Musk replied that he “is neither here nor there in Bitcoin”. “There are transactions that are not within the limits of the law, obviously there are many laws in different countries, and typically use cash for these transactions. But for that to occur illegal transactions, the cash should also be used for legal transactions. You need a bridge, illegal to legal. There is where comes the cryptography”. But for Elon Musk, the white paper of Satoshi Nakamoto, is a work “pretty smart”, he explained that his position with regard to what are the cryptocurrencies today tends to enrage the enthusiasts of the digital currencies. And the reason is that Musk doesn’t see a real utility to the cryptocurrencies outside of the scope of illegal. By what we do day to day operations with coins as Bitcoin or Ethereum is something that he does not believe begins in earnest. “You have to have a jumper legal to illegal. Then, where you see it, crypto is effectively as a replacement for cash. I don’t see that crypto is the basis of primary data (for transactions)”. Although he exhibited several negative points about the cryptography, the CEO of Tesla also said that it was not his intention to judge the industry. Even Musk said that, in some cases, governments exceed their authority with the regulations to digital currencies. “I think that there are many things that are illegal that should not be. I think that sometimes governments simply have too many laws on the missions you should have, and should not have so many things that are illegal”. Therefore, it is demonstrated that, although Elon Musk is not at all in agreement with Bitcoin, nor is against it. The following two tabs change content below. I am a student of International Studies, interested in new technologies and their impact on the world. A true believer that tenacity is the foundation of success.

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About the author

Caroline W.

Caroline W.

Caroline is passionate about learning languages, cultures and the Internet. She has years of experience working at international online advertising projects. Growing interested in Bitcoin and cryptocurrencies in late 2018, she joined CurrencyMarket24 as a writer.

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