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Home Latest News Business Elon Musk: 'Only a fool' wouldn't seek non-fiat investments

Elon Musk: ‘Only a fool’ wouldn’t seek non-fiat investments

On Feb. 19, Musk responded to comments made by Binance CEO Changepeng Zhao to Bloomberg in which CZ expressed his surprise at the Tesla executive’s “gung-ho” pronouncements regarding Dogecoin.

Tesla co-founder and hypothetical Dogecoin (DOGE) CEO Elon Musk has asserted that “only a fool” would not seek out alternative investments to fiat currency given current interest rates on Twitter today.

According to Cointelegraph, during the interview, CZ implied that Tesla’s recent decision to invest $1.5 billion or 7.7% of its treasury into Bitcoin (BTC) likely evidenced Musk’s deep support for Bitcoin.

On Twitter, Musk stated that, “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.”

Responding to the insinuation from Musk that he personally holds DOGE in higher esteem than BTC, Blockstream CSO Samson Mow stated, “You’re just sad you didn’t buy sooner.”

Nonetheless, Musk also noted that it would be foolish not to seek out alternative investments while “fiat currency has negative real interest”:

“When fiat currency has a negative real interest, only a fool wouldn’t look elsewhere. Bitcoin is almost as bs as fiat money. The keyword is ‘almost.’”

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