Get 40% Off
⚠ Earnings Alert! Which stocks are poised to surge?
See the stocks on our ProPicks radar. These strategies gained 19.7% year-to-date.
Unlock full list

Elon Musk Thinks Bitcoin is Clever But Can't Be the Primary Financial Database

Published 01/23/2020, 02:48 PM
Updated 05/30/2020, 12:02 PM
Elon Musk Thinks Bitcoin is Clever But Can't Be the Primary Financial Database

Elon Musk, the often controversial CEO of Tesla (NASDAQ:TSLA), recently shared his thoughts on crypto and Bitcoin during the Third Row Tesla Podcast, saying he is generally 'neither here nor there on Bitcoin'. However, he did concede that the Bitcoin whitepaper, written by Satoshi Nakamoto, was 'pretty clever'.

Musk's criticism of crypto and Bitcoin was centered around its use for legally questionable transactions, which are a major hurdle towards adoption. Different countries treat digital assets differently, but the general consensus is that crypto transactions are a threat to economic stability, since they are beyond the purview of regulators and government authorities.

The case for crypto isn't helped by the fact that Bitcoin first rose to mainstream prominence due to the infamous Silk Road black market on the dark web. The black market was responsible for all manner of illegal transactions, specifically involving drugs. Its founder,&nb...


This article appeared first on Cryptovest

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.