Tesla CEO Elon Musk thinks bitcoin is slightly better than cash. Reported by Reuters.
Musk noted that “only a fool” will not seek alternative investments, while cash is becoming less interesting. “Bitcoin is almost as good as paper money,” said the billionaire.
Bitcoin again broke a historic record on February 17, reaching a value of 52.2 thousand dollars per coin. The surge began after Tesla announced the purchase of a $ 1.5 billion cryptocurrency. The auto giant said it will begin accepting bitcoins as a means of payment for its products in the near future.
Against this background, Tesla investors wanted to limit Musk’s bitcoin buying initiatives. The investment company Baillie Gifford, one of the five largest shareholders of the auto giant, is going to raise this issue. The management plans to discuss with Musk the limits on the amount that can be invested in bitcoin.
Musk posted a bitcoin hashtag on his Twitter account at the end of January. The tweet helped the cryptocurrency skyrocket by 15 percent in 30 minutes, and its rate increased from $ 32,000 to $ 37,000.