Elon Musk said he doesn’t think much about cryptocurrencies anymore.
“I don’t spend a lot of time thinking about cryptocurrencies. I don’t think about them very much,” Musk said in one article. Conversation in X space On December 21, I spoke with Ark Investments CEO Cathie Wood in response to Wood’s questions about Bitcoin’s potential impact on the financial system.
“I’ve been thinking about money and the nature of money for a long time,” Musk continued. “What is money? It’s actually a database for resource allocation.”
Musk added that fiat currencies are rules-based and “actually fine as a database for resource allocation” as long as there’s not too much abuse by governments.
Musk said he would think of a monetary system as applying information theory to monetary problems. “Think of this like an information system,” he said. “You want to minimize noise, you want to minimize delay, you want to minimize packet loss. So inflation can add noise to the system.”
Musk’s comments come as his company Tesla appears to continue to hold digital assets on its balance sheet.Tesla’s Third quarter results It was revealed that the company held digital assets worth $184 million as of the end of September.
According to the data, the electric car maker has the third-largest Bitcoin holdings among publicly traded companies, behind MicroStrategy and Marathon Digital Holdings. Bitcoin Treasury Net.Tesla too accept dogecoin For payment.
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