Tesla CEO Elon Musk on Thursday said that it is slightly better to invest in Bitcoins than holding conventional cash. In a tweet Musk said that Bitcoin is almost as bs as fiat money. He wrote, "However, when fiat currency has negative real interest, only a fool wouldn't look elsewhere. Bitcoin is almost as bs as fiat money. The keyword is 'almost'."
The Tesla CEO also defended his electric car company's action to invest in Bitcoin. He said that the difference with cash made it "adventurous enough" for the S&P 500 company to hold the cryptocurrency. The EV previously announced a $1.5 billion Bitcoin investment which pushed the cryptocurrency toward the week's record peak over $50,000.
Meanwhile, Elon Musk is back at the top and has regained his title of the world's richest person after SpaceX completed another funding round, pushing him at the very top of the Bloomberg Billionaires Index. Musk's wealth rose to $199.9 billion after his rocket company completed the latest funding round. He flew past Amazon’s Jeff Bezos once again, who recently reclaimed the title as the world’s richest person for a brief period.
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