Elon Musk On Bitcoin: Tesla Founder Reveals His True Opinion On Crypto

In 2019, we have seen a long and very cryptic series of tweets coming from the founder of Tesla and co-founder of PayPal, Elon Musk.
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In a recent podcast, reporters finally got the full opinion of Elon Musk on Bitcoin, where the entrepreneur said that he is “neither here nor there on Bitcoin.”

The eccentric billionaire has been in the spotlight for a lot of things over the years. In the crypto news, Musk was featured along with his short and cryptic tweets such as “Bitcoin is not my safe word” which was a follow-up to a previous tweet reading “cryptocurrency is my safe word.”

Cryptocurrency is my safe word

— Elon Musk (@elonmusk) April 13, 2019

However, the opinion of Elon Musk on Bitcoin was never fully revealed – until now. In the recent podcast, Musk talked about many things. He started with a statement about PayPal and mentioned the company in this podcast, saying:

“If PayPal had executed the plan that I wanted to execute on, I think it would probably be the most valuable company in the world.”

The podcast interviewer then asked Musk to comment about the latest Bitcoin news and cryptocurrencies, given their spiritual similarity to his projects. Musk them referred to Satoshi’s whitepaper as “pretty clever” and said that cryptocurrencies “get people angry,” continuing:

“There are transactions that are not within the bounds of the law — there are obviously many laws in different countries — and normally cash is used for these transactions. But in order for illegal transactions to occur, the cash must also be used for legal transactions. You need an illegal-to-legal bridge. That’s where crypto comes in.”

Then, we could see the full Elon Musk on Bitcoin experience – when the entrepreneur said that he sees a clear purpose for crypto.

“You must have a legal to illegal bridge. So where I see crypto is effectively as a replacement for cash. I do not see crypto being the primary database [for transactions].”

In the end, Musk said that despite the negative connotation that crypto has mostly because of its use in illegal purposes, he is not being “judgmental about it.”

“I think there’s a lot of things that are illegal that shouldn’t be illegal. I think that sometimes governments just have too many laws about the missions that they should have, and shouldn’t have so many things that are illegal,” he concluded.