Elon Musk, the CEO of Tesla, SpaceX, and essentially the real-life Tony Stark, has recently shared his thoughts on Bitcoin and cryptocurrencies in general. Speaking on the Third Row Tesla Podcast, and reported by Forbes, Musk noted that he is fairly neutral on the asset.
More specifically, his lines were “I’m neither here nor there on Bitcoin” – a markedly unenthused statement for sure. However, he did say that he thought the digital asset was clever when he read Satoshi Nakamoto’s whitepaper back in the day.
Musk elaborates a little more, stating that he thinks Bitcoin is good for illegally sending money around:
“This sort of gets the crypto people angry, but there are transactions that are not within the balance of the law. And there are, obviously, many laws in different countries. And, normally, cash is used for these transactions. But, in order for illegal transactions to occur, cash must also be used for legal transactions. You need an illegal to legal bridge. That’s where crypto comes in.”
Of course, many people share all sorts of different opinions on this matter, though it’s hard to deny the insight of the man who created PayPal, for example. However, with more regulatory policies and wider adoption, we may very well see the asset gain some ground over the next decade or so.