March 2nd, 2019 - CNBC.com
Silicon Valley billionaire Elon Musk has sounded the death knell for cash. “Paper money is going away,” Musk said in a podcast released Tuesday.
“Crypto[currency] is a far better way to transfer value than pieces of paper, that’s for sure,” Musk said on the “FYI — For Your Innovation” podcast.
In particular, Musk said the technology behind bitcoin is “quite brilliant” and “it seems like there is some merit to ethereum and maybe some of the others.”
“I think one of the downsides of crypto is that it, computationally, it is like quite energy intensive,” Musk said. “It is very energy intensive to create the incremental bitcoin at this point.”
Though Musk says he has friends that are “really involved in crypto,” in February Musk said he “literally” owns “zero cryptocurrency” other than .25 BTC that someone gave him years ago. (Bitcoin closed trading at $5,216.71 today.)
Not sure. I let @jack know, but it’s still going. I literally own zero cryptocurrency, apart from .25 BTC that a friend sent me many years ago.