Speaking about cryptocurrencies in a recent interview with Lex Fridman, Elon Musk expressed his belief that digital assets are the best form of money ever to exist, but he added that no cryptocurrencies are “ideal” assets.
Stating that digital assets can reduce the error in the money database, Tesla CEO said that these assets are “fundamentally better” than other financial assets.
Continuing his words by stating that Bitcoin’s main use case is a store of value, Musk claimed that Dogecoin is more suitable for payments.
Reiterating his support for the digital asset industry in this interview, Musk said that the current financial system based on fiat currencies is far from perfect. According to the famous CEO, governments can “dilute the money supply” with their massive pressures and cause inflation.
“On the other hand, cryptocurrencies are a technological innovation that takes us into the 21st century.” The CEO said that unlike many people who describe money as having power, it should be viewed “through the lens of information theory.” Stating that he believes the technology behind cryptocurrencies seems to be the most effective form of transaction, Musk said for Bitcoin and other coins.
I’m not saying this is an ideal system for a currency, but I actually think it’s basically better than anything I’ve seen.
said.
On the other hand, Musk once again rejected the claims of Satoshi, adding that the name of the inventor of these products is not important, but the technology they invented is what matters.