Changpeng Zhao, the CEO of Binance, spoke about Elon Musk’s enthusiasm toward Dogecoin during a recent interview with Bloomberg Thursday.
“I’m surprised that Elon’s so gung-ho on dogecoin. This is a decentralized, free world and anybody can like anything. He [Musk] can like dogecoin for any reason he likes.” He then went on to remember people that Tesla has bought Bitcoin, not Dogecoin.
Musk caught the interview and tweeted:
“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.”
He then added: “To be clear, I am ‘not’ an investor, I am an engineer. I don’t even own any publicly traded stock besides Tesla. However, when fiat currency has a negative real interest, only a fool wouldn’t look elsewhere. Bitcoin is almost as BS as fiat money. The keyword is ‘almost’.”
Meanwhile, gold bug Peter Schiff, who has recently criticized Musk and Tesla for acquiring Bitcoin, tweeted that: “According to Elon Musk ‘Bitcoin is almost as BS as fiat money.’ So Musk regards both bitcoin and fiat as BS.” He continued by saying “I agree, I just think bitcoin, which is digital fiat, is even more BS than the paper fiat issued by central banks. Gold is not BS. It’s real money and better than both.”
The tweet was also noticed by Elon Musk who replied:
“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. That said, BTC & ETH do seem high.”