“You might as well have crypto” Elon Musk Responds to Peter Schiff in Gold Vs Bitcoin Debate

Prashant Jha Bitcoin News PublishedFebruary 20, 2021 | ModifiedFebruary 20, 2021

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“You might as well have crypto” Elon Musk Responds to Peter Schiff in Gold Vs Bitcoin Debate

Elon Musk, the CEO of Tesla has responded to ardent Bitcoin basher Peter Schiff over his quote “Bitcoin is as BS as Fiat” where Schiff shilled Gold to Musk claiming it is the only reliable asset. However, Musk refuted Schiff’s claims on Gold saying,

An email saying you have gold is not the same as having gold. You might as well have crypto.

Money is just data that allows us to avoid the inconvenience of barter. That data, like all data, is subject to latency & error. The system will evolve to that which minimizes both.

Elon Musk is quite active on Twitter and often seen tweeting about a range of topics including cryptocurrencies. In recent times Musk has shilled Dogecoin the most despite his company making a $1.5 billion Bitcoin purchase. This has also made many call out the serial entrepreneur since his shilling has made many newcomers invest heavily in the meme coin and many have lost a significant amount of money as well.

Elon Musk Joins Bitcoin Laser Eye Meme Trend

Elon Musk changed his Twitter profile pic in support of the current Bitcoin Laser eye meme trend where Bitcoin proponents have changed their profile pictures to include a laser eye.

Apart from Musk other significant personalities that joined the trend and caught everyone by surprise include two sitting member of the United States Congres that says the craze and hype around the top cryptocurrency.

Musk’s comment about Bitcoin being as BS as Fiat came just a week after his company made the single largest Bitcoin purchase. Musk is also popular on Twitter for trolling and this possibly could be one of them as the Tesla CEO recently appeared on Clubhouse to talk about Bitcoin where he claimed it to be the future of finance and expected many more institutions to join in. Thus, his recent comments seem out of the blue.

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Prashant Jha 302 Articles
An engineering graduate, Prashant focuses on UK and Indian markets. As a crypto-journalist, his interests lie in blockchain technology adoption across emerging economies.
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