Elon Musk vouches for Cryptocurrency over fiat money
“The true battle is between fiat & crypto. On balance, I support the latter,” he said on Twitter
He was replying to a tweet that asked about his thoughts on people’s anger towards his decisions on crypto
Bitcoin shot to over $38,370 shortly after Musk’s tweet
Fiat money, like the dollar and euro, is the kind of currency used by most modern economies
In February, bitcoin’s value had risen after Tesla revealed it bought $1.5 billion of the crypto
However, it slumped after Tesla retracted the decision to use the crypto for payments
Musk also said recently that he won’t sell any of his dogecoin holdings
