Elon Musk said he doesn’t think much about cryptocurrencies anymore.
“I don’t spend a lot of time thinking about cryptocurrencies,” Musk said. xspace conversation December 21 with Ark Invest CEO Cathie Wood in response to Wood’s questions about the potential impact of Bitcoin on the financial system.
“I’ve been thinking about money and its nature for a long time,” Musk continued. “What is money? “This is really a database for resource allocation.”
Musk added that if fiat currency is rules-based and doesn’t have a lot of abuse from governments, “it’s actually fine as a database for resource allocation.”
Musk said he would think of the monetary system as applying information theory to money problems. “Just think of it as an information system,” he said. “We want to minimize noise, latency and packet loss. So inflation will add noise to the system.”
Musk’s comments come as his company, Tesla, appears to continue to have digital assets on its balance sheet. Tesla’s Third quarter results As of the end of September, the company was found to hold $184 million worth of digital assets.
The electric car maker has the third-largest Bitcoin holdings among publicly traded companies, behind MicroStrategy and Marathon Digital Holdings. bitcointreasury.net. Same with Tesla We accept Dogecoin For payment.
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