Elon Musk says he supports cryptocurrency over normal money

Tesla and Space X CEO Elon Musk has said that he supports cryptocurrency over normal money after Bitcoin dives in price.

@Jak_ConnorTT
Published Tue, May 25 2021 4:33 AM CDT   |   Updated Mon, Jun 21 2021 8:33 AM CDT

Bitcoin (BTC) has really taken a hit since Elon Musk announced that Tesla would no longer be accepting BTC as payment for its electric vehicles, as well as China announcing its crackdown.

Now, Musk has taken to his Twitter account to reply to a comment that asked him what he thinks about the people who are mad at him because of what happened with the cryptocurrency market. Musk replied to the comment by saying, "The true battle is between fiat & crypto". For those that don't know, fiat is government-issued currency such as the US dollar or the EURO.

Musk is suggesting with the reply to this comment that the true battle isn't between him and the people who are investing in cryptocurrencies, but instead, the battle is between government-backed currencies and cryptocurrencies. Additionally, Musk also said that he supports cryptocurrencies over fiat, stating, "On balance, I support the latter."

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Jak joined the TweakTown team in 2017 and has since reviewed 100s of new tech products and kept us informed daily on the latest news. Jak's love for technology, and, more specifically, PC gaming, began at 10 years old. It was the day his dad showed him how to play Age of Empires on an old Compaq PC. Ever since that day, Jak fell in love with games and the progression of the technology industry in all its forms. Instead of typical FPS, Jak holds a very special spot in his heart for RTS games.

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