Elon Musk tweeted in defense of Tesla’s Bet on Bitcoin

World’s Richest man prefers Crypto over Cash
  • Tesla’s invested a huge amount of $1.5 billion in Bitcoin
  • Changpeng Zhao is amazed by Tesla’s decision of investing in Bitcoin instead of Dogecoin
  • Elon Musk thinks that Cryptocurrencies are better than cash and that cash is a dumb form of liquidity.

Recently the news came about Tesla’s $1.5 Billion investment in Bitcoin. This news caught the attention of many. Now Elon Musk, the world’s richest man and the CEO of Tesla has shared a tweet regarding this topic. He tweeted that, having some Bitcoins is adventurous for the company. He also referred to cash as a dumb form of liquidity.

Elon Musk’s views on cryptocurrencies

According to the recent activities and the tweets of Elon Musk, it seems that the world’s biggest man is more inclined towards digital money. Previously, he promoted Dogecoin through his twitter handle and now again he defended Tesla’s decision of investing in Bitcoin, which led to a great rise in their values.

Changpeng Zhao, the CEO of Binance, reacts on Tesla’s action

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Changpeng Zhao shared his views on Tesla’s decision of investing in Bitcoin in an interview with Bloomberg TV. He is the founder and CEO of Binance, the largest cryptocurrency exchange in the world in terms of trading volume as of January 2018. Zhao said that he is surprised that Elon Musk invested in Bitcoin instead of Dogecoin because Musk has been a fan of Dogecoin.

Zhao also said that the positive approach towards the institutional interest along with some other factors has led a greater number of people towards the cryptocurrencies. He also mentioned that Bitcoin has achieved its highest peak till date after Tesla’s $1.5 Billion investment.

Elon Musk’s Reply to Changpeng Zhao

In reply to Changpeng Zhao’s reaction Musk said that Tesla’s actions don’t reflect his opinions directly. Though, he also defended Tesla’s decision by saying that having Bitcoins is adventurous for an S&P500 Company.  

So basically, it seems that Musk is more into Tokens than the Cash.

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Steve Anderrsonhttp://www.thecoinrepublic.com
Steve Anderson is an Australian crypto enthusiast. He is a specialist in management and trading for over 5 years. Steve has worked as a crypto trader, he loves learning about decentralisation, understanding the true potential of the blockchain.

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