Elon Musk Shifts Focus Away from Cryptocurrency
Dec 23, 2023
Elon Musk recently shared that he doesn't spend much time thinking about cryptocurrencies anymore. In a conversation with Ark Invest CEO Cathie Wood, Musk discussed his perspective on money and its nature. He sees money as a database for resource allocation and believes fiat currency can work well if it follows rules and isn't heavily misused by governments. Musk also talked about the idea of applying information theory to the monetary system to minimise disruptions. Despite his comments, it's worth noting that Tesla still holds digital assets on its balance sheet, including a significant amount of bitcoin, and continues to accept Dogecoin as a form of payment.