“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.

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 (@elonmusk) February 20, 2021

This story is being updated