Technology Elon Musk Says Bitcoin 'Almost as BS' as Regular Money after Tesla Buys Cryptocurrency
A Tesla Model S erupted ‘like a flamethrower.’ It renewed old safety concerns about the trailblazing sedans.
One firefighter told the driver he was lucky he got out when he did, after the car’s motorized door handles retracted. The sound was like “if you were to drop an axle of a normal car” on the ground, Ahmad, 41, said. Only the car was intact, he recalled. Suddenly, as he stood on the side of the road, the car ignited in flames, concentrated around the front passenger-side wheel. “This was shooting out like a flamethrower,” recalled Ahmad, who works in strategy and business development for a health-care system.
Elon Musk has said Bitcoin is "almost as BS" as regular money after his company Tesla purchased $1.5 billion worth of the cryptocurrency.
The entrepreneur's comments came after Changpeng Zhao, CEO of the Binance trading platform, said he was "surprised" Musk cryptocurrency widely regarded as a joke. —another form of
Bothand Dogecoin , after tweets from high-profile figures including Musk, U.S. rapper Snoop Dogg, and Gene Simmons of glam-rock legends Kiss.
Elon Musk Changes Twitter Bio to '#bitcoin' After Apparent Nod to Dogecoin With Meme
Fans of meme cryptocurrency Dogecoin rejoiced on Thursday after it appeared to be referenced by billionaire tech CEO Elon Musk. By Friday, rally plans appeared to falter.The change by Musk was enough to cause bitcoin's price to surge by up to 20 percent, CNBC reported as real-time price tracking data from CoinMarketCap showed the value spiked from around $32,000 to more than $37,000 in a matter of hours.
Speaking to Asia on Friday, Zhao said: "I'm surprised Elon is so gung-ho on Dogecoin but I think, look, this is the decentralized free world, right? Anybody can like anything, he can like Dogecoin for any reason he likes.
"I strongly believe that he's not really associated with Dogecoin in any way. Dogecoin is one of those coins that started as a joke, but it's getting a lot of popularity over time, just for various reasons that nobody expected.
"So I think Elon really likes it. The fact, though, is that Tesla bought Bitcoin, not Dogecoin."
Musk took to to address Zhao's comments. Addressing his , the billionaire wrote: "To be clear, I am not an investor, I am an engineer. I don't own any publicly-traded stock besides .
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"However, when fiat [regular] currency has negative real interest, only a fool wouldn't look elsewhere. Bitcoin is almost as BS as fiat money. The key word is 'almost'."
Video: This guy bought a Lamborghini with bitcoin (CNBC)
He also said Tesla's Bitcoin purchase is "not directly reflective of my opinion."
The Tesla CEO has previously said that while his tweets about Dogecoin are a joke,
Musk, while claiming he has purchased Dogecoin for his baby son, has also tended to share memes rather than reveal any major investments in the cryptocurrency.
He tweeted last Sunday that Dogecoin would "get my full support" on the condition that "major Dogecoin holders sell most of their coins."
At the time of writing Dogecoin was worth $0.56, up 9.3 percent in the last 24 hours, according to CoinDesk. It rose to a record high of over $0.80 on Tuesday and Wednesday last week.
India Drafts Bill to Create Government Cryptocurrency, Ban Private Cryptocurrencies, with Exceptions
India's Parliament is expected to consider a bill to ban "private" cryptocurrencies, with some as yet unspecified exceptions, which would allow the government to create a state-sanctioned digital alternative. © Mukesh Gupta/reuters A bank teller counts stacks of 1,000 rupee banknotes inside a bank in Jammu, India, November 25. John Elliott writes that the cancellation of Rs1,000 ($14.80) and Rs500 notes was suddenly introduced by Prime Minister Narendra Modi on November 8.
Bitcoin is currently worth $51,780, bringing its market cap to nearly $1 trillion.
Speaking to Bloomberg, Zhao batted aside concerns that the current rally around Bitcoin is speculative, saying: "I definitely think this is just a reflection of Bitcoin has become, and I think we're just seeing the tip of the iceberg, to be honest."
Crypto inventor Satoshi Nakamoto is "a risk for Bitcoin" .
The crypto trading platform Coinbase sees Satoshi Nakamoto as a substantial risk for Bitcoin. The company announced this in its application for initial listing with the US Securities and Exchange Commission. © Jaruwan Jaiyangyuen / shutterstock Crypto inventor Satoshi Nakamoto is “a risk for Bitcoin” Coinbase, crypto trading platform from the US state of California, wants to go public on the New York Stock Exchange and has submitted its securities prospectus for it.