The well-known founder and CEO of Tesla and SpaceX shared some remarks on cryptocurrencies as an alternative to conventional money in a podcast interview with ARK Invest, an investment company. You may listen to it here.
Elon Musk talked about the future of his enterprises and shared some thoughts on the crypto industry, stating that he believes Bitcoin’s structure to be “quite brilliant”.
“It [cryptocurrency] bypasses currency controls. [...] Paper money is going away. And crypto is a far better way to transfer values than a piece of paper, that’s for sure.”
Nonetheless, the entrepreneur also shared what is keeping his companies from resorting to crypto-related technology — mentioning that creating Bitcoin is very “energy intensive” at this point, which does not meet the green approach of his companies.
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