With real interest rates trending negative, Tesla’s CEO Elon Musk believes “only a fool” would ignore alternative investment opportunities.
“When fiat currency has negative real interest, only a fool wouldn’t look elsewhere. Bitcoin is almost as bs as fiat money. The key word is ‘almost.’”
On Twitter, Musk said, “Tesla’s action is not directly reflective of my opinion. Having some Bitcoin, which is simply a less dumb form of liquidity than cash, is adventurous enough for an S&P500 company.”
However, Musk also asserted it would be foolish not to seek out alternative investments while “fiat currency has negative real interest”.
Source: Cointelegraph, FEB 19, 2021