Elon Musk is tweeting about blockchain and cryptocurrency again, and this time he is adamant about where he stands.
In a thread started by Musk compared magic to computers, someone asked what he felt about people “who are mad at you because of crypto,” Tesla Inc. According to CEO, the “true war is between fiat and crypto.” Overall, I choose the latter.”
After Musk’s tweet, Bitcoin climbed to about $38,150 as of 12:27 p.m. It is now 5:00 p.m. in London.
More here: Bitcoin Ends Week in Volatile Flux As China Rattles Bulls
Musk has previously made similar remarks, including in December when he tweeted, “Bitcoin is about as bs as fiat money.” In February, he clarified, saying that “when fiat currency has negative real interest, then a fool does not look elsewhere.”
Musk had earlier this week tweeted that he would not be selling any Dogecoin, and he also shared an enigmatic screenshot of a dollar bill with a Shiba Inu dog replacing the face of a former US president.
After a recent alert from Chinese authorities about cracking down on cryptocurrencies, Bitcoin finished the week in unpredictable territories. The earlier selloff on Friday left Bitcoin supporters fuming after onetime supporter Elon Musk reversed his position and blamed the token for its energy consumption.