Elon Musk recently mentioned that he doesn’t focus much on cryptocurrency anymore.
During a talk with Ark Invest’s CEO, Cathie Wood, on December 21, when asked about the influence of Bitcoin on finance, Musk stated that he rarely thinks about cryptocurrency these days.
Elon Musk added, “I have thought for a long time about money and the nature of money. What is money? It’s really a database for resource allocation.”
Musk stated that as long as it’s rule-driven and the government doesn’t misuse it, fiat currency works well as a system for managing resources.
Musk compared the money system to an information system. He explained that we should view money issues in the same way we approach information flow, aiming to reduce disturbances like inflation, which he likened to adding interference to the system.
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