Musk tweets his support for crypto over fiat currencies

Tesla and SpaceX CEO Elon Musk made his position clear in a couple tweets early today: He supports crypto over fiat currencies.

It began when the world’s richest person tweeted: “Any sufficiently advanced magic is indistinguishable from technology.” This was a riff on science fiction writer Arthur C. Clarke’s famous quote: “Any sufficiently advanced technology is indistinguishable from magic.”

Someone then asked what Musk thought of people who were “angry at him because of crypto,” as he has in the past expressed occasional crypto skepticism, including toward proof of work concepts, as The Block reported last July.

Musk tweeted: “The true battle is between fiat & crypto. On balance, I support the latter.”

As of February, Tesla had about $2 billion in bitcoin on its balance sheet, according to its annual report.

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