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[AudraMiller]

One of the major questions that people ask themselves, and it has been a constant debate in many platforms and forums, is whether crypto is better or fiat currency and each person has their own opinion in this regard. Elon Musk has made no secret of him interest in cryptocurrency, and in a recent statement says that he would much rather prefer to hold monetary value in Bitcoin rather than fiat currency. This is a good thing for the Bitcoin community as such an influential person and statement could prompt more people to look for investments into Bitcoin.

 

[Wisdom01]

Yeah true because those flat currency could lose value easily and could be affected by inflation,so some people rather invest in bitcoin i think

 

[Rollerkid]

I'm pretty sure very soon almost every one would prefer to hold their wealth in crypto currencies like bitcoin than in cash. I don't think anyone would like his or worth to lose value because of inflation.

 

[Reznov]

that's a wise decision, since saving cash makes no profit at all, because fiat currencies have usually stable value, unlike bitcoin where he can make profit and money by just holding it on his wallet

 

[sammyblaq]

Good to know about the World richest man holding BTC over cash. It is a nice development. As countries are moving toward a cashless economy with this news, it will aid the policy and further add more accolade to cryptocurrency.

 

[AudraMiller]

Yeah true because those flat currency could lose value easily and could be affected by inflation,so some people rather invest in bitcoin i think

This makes sense, however the concern that I have is that there is much volatility in the crypto market and even Bitcoin, so when you store value in there you have to have a lot of patience to see a profit if the price drops. Therefore, for immediate storage and use I think it highly advised against.

 

[Rollerkid]

This makes sense, however the concern that I have is that there is much volatility in the crypto market and even Bitcoin, so when you store value in there you have to have a lot of patience to see a profit if the price drops. Therefore, for immediate storage and use I think it highly advised against.

Yeah, l get your point here again. But one thing is that when these big investors invest in a particular crypto like bitcoin, it usually causes an immediate increase in the price of such crypto and even if they want to withdraw again, they would realize a profit in their investment. But anyways it's not cool to invest all your cash in crypto.

 

[Brain]

Well I'm rooting for Musk when it comes to him believing so much in btc. It help others to also invest in btc since it is promoted by one of the world richest

 

[a_jerobon]

Saving your money in Bitcoin is much more preferrable than saving it in Fiat currency. This is because their prices keep increasing and so you earn interest with time. When such big investors like Elon Musk invest huge amounts, we small scale investors benefit alot.

 

[Erelmer]

And what is there to think then, everything is clear like

 

[achawaskey]

It all thanks to the constant increment of bitcoin, this wealthy men has seen that there is profit in investing in crypto and for them to increase there profit, they have to say good things about crypto.

 

[Niftyicon]

It would be unwise to hold your funds in fiat that is getting devalued by the day thanks to inflation. I totally agree with Elon Musk on this.

 

[BullyMaguire]

Elon musk is really pushing on his promotion to Bitcoin now.. well i mean he bought a billions's worth so it's only natural that he will do it for earn a lot

 

[Yugocean]

Tesla wll soon start paying and accepting in crypto. Both Bitcoin and dogecoin are supported my Musk. Tesla may also bring it's crypto perhaps.

 

[microunit]

Well I guess it's because when he holds bitcoin he could actually gain profit in the long run considering that bitcoin is bound to rise over time duue it its deflationary nature

 

[Josemendez]

One of the major questions that people ask themselves, and it has been a constant debate in many platforms and forums, is whether crypto is better or fiat currency and each person has their own opinion in this regard. Elon Musk has made no secret of him interest in cryptocurrency, and in a recent statement says that he would much rather prefer to hold monetary value in Bitcoin rather than fiat currency. This is a good thing for the Bitcoin community as such an influential person and statement could prompt more people to look for investments into Bitcoin.

I think the issue is that Bitcoin volatility is an advantage over Fiat currency and major reason why people will prefer it . However it is a disadvantage too

 

[sagefave]

Cash would never increase in value more than the amount which you hold but with bitcoin there is the potential for the amount of bitcoin held to increase in value because of an upward change in its price.

 

[highspeed]

Yes. Certainly when big capitalists like Elon Musk make investments using cryptocurrencies, such as the best known Bitcoin, in my opinion, it will certainly have a positive impact on the trend of this.

 

[Kunkun]

I would prefer to hold my money in Bitcoin too than flat currency because Bitcoin is prone to increase and flat currency too could fall due to economy

 

[highspeed]

I would prefer to hold my money in Bitcoin too than flat currency because Bitcoin is prone to increase and flat currency too could fall due to economy

I see, me too would do the same. But maybe this wasn't the very right time to buy Bitcoin.
Last Friday a user wrote this thread: "Bitcoin Purchase causing Tesla Shares To fall" (you can read it)
Now in Tesla, there are some concerns, for a sudden fall of the crypto.