Elon Musk, CEO of US electric vehicle maker Tesla, has said the company's decision to invest in Bitcoin was not his. Moreover, he has described these investments as "adventurous enough."
During an interview with Bloomberg, the leader of cryptocurrency exchange Binance, Changpeng Zhao, has stressed despite Musk's passion for the crypto Dogecoin, his company bought Bitcoin, not this altcoin. In response, Musk wrote:
"Tesla’s action is not directly reflective of my opinion. Having some Bitcoin, which is simply a less dumb form of liquidity than cash, is adventurous enough for an S&P500 company."
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Musk added that he is an engineer, not an investor, and does not even own shares in public companies other than 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'."
On February 8 it was known Tesla has invested $1.5B in Bitcoin.