“Crypto, seriously?” That was the first response of Elon Musk, Tesla and SpaceX CEO, to a question on cryptocurrencies in a recent interview. Then he said:
“Bitcoin and ethereum scammers were so rampant on Twitter that I just joined in, said you wanna buy some bitcoin. My account got suspended, because obviously the’ve got some automatic rule like if you try to sell bitcoin or something and I was just joking. ”
After some laughter, the interviewer asked if Musk agrees with Jack Dorsey, founder of Twitter, who recently said the internet will have a native currency and he thinks it will be bitcoin.
“It’s interesting,” Musk said. “I have some friends really involved in crypto. The bitcoin structure is brilliant. It seems there’s some air to ethereum as well, but I’m not sure it would be a good use of Tesla resources to be involved in crypto.”
He then says the process of finding a bitcoin is very energy intensive. The interviewer replied by stating that, on the other hand, bitcoin transferred $1.3 trillion in value last year.
Musk agreed it could be useful to bypass capital controls and said “crypto is a far better way to transfer value than pieces of paper, that has its pros and cons.”
“Tesla won’t sell bitcoin,” Musk concluded. Then responding to the interviewer stating thank you for making the world a better place, he joked about everyone in Silicon Valley saying that. Literally every company, he said, like “making the world a better place by social mobile crypto.”
No Crypto Musk?
Musk is somewhat new to crypto, pictured last year with a book aimed at a very basic introduction to cryptocurrencies. He said in early 2018:
Not sure. I let @jack know, but it’s still going. I literally own zero cryptocurrency, apart from .25 BTC that a friend sent me many years ago.
— Elon Musk (@elonmusk) February 22, 2018
In late August then he joked he wants some eth, stating “At this point, I want ETH even if it is a scam” after being flooded with crypto scamming accounts saying send one eth and they will send ten back, which of course they won’t.
Now he’s made what might be his first remarks on cryptos, and he doesn’t appear to be a huge enthusiast. Maybe annoyed he didn’t buy more bitcoins whenever his friend introduced him to it “many years ago.”
Or it could be that as CEO of Tesla, the electric cars manufacturer, he perhaps thinks that cryptos would not appeal to environmentalists.
That might suggest he still doesn’t know much about eth, which is planning to remove miners and thus energy requirements by replacing them with 32 eth validating accounts.
So Tesla could try some pilots if they were inclined, but Musk is probably far too busy with rockets to play with blockchains.