Elon Musk is no longer interested in cryptocurrencies.


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According to the latest rumors leaked in a recent X Space hosted by Ark Invest CEO Cathie Wood, Elon Musk would have stated that he is no longer interested in cryptocurrencies.

All the optimism and enthusiasm shown in 2021, the year in which the Tesla CEO had decided to open up to Bitcoin payments for the purchase of their electric cars, now seems completely faded.

To attract the attention of the second richest man in the world, there are other issues, such as the content present on X (formerly Twitter), which many large multinational companies have complained about in recent weeks.

According to the latter, the content on the platform should be more censored, avoiding violent and uneducational nuances.

Elon Musk’s response to such provocations was emblematic.

Below we see all the details.

For Elon Musk cryptocurrencies are no longer as interesting: it is better to focus on the broader concept of money

Elon Musk, CEO of Tesla and Spacex, as well as executive chairman of X (formerly Twitter), recently stated that he is no longer interested in cryptocurrencies.

He himself stated this in an X Space hosted by the CEO of Ark Invest on December 21st entitled “Cathie Wood and Elon Musk discuss the future“.

While the founder of the hedge fund is heavily betting on Bitcoin, with a particular focus on the approval of a spot ETF in the USA, Elon Musk seems to have other interests at the moment.

The self-proclaimed “Dogefather”, and former supporter of Bitcoin’s libertarian principles, has made it clear that he currently doesn’t spend much time thinking about cryptocurrencies.

He states, indeed, that he spends many more phases of his day reflecting on the concept of money and the elements that surround it.

The second richest man on the planet has taken the opportunity to describe his thoughts on money, which should be understood as a resource allocation database, establishing similarities between network concepts such as latency, noise, congestion, and packet loss with concepts related to money.

These are his exact words during the X Space:

“I have to say that I don’t spend much time thinking about cryptocurrencies. Almost no one does.”

All of this seems really strange considering that just 2 years ago the CEO of Tesla had driven the last bull market of Bitcoin by starting to accept (and then reversing) the currency as a means of exchange for purchasing their electric cars.

Despite Tesla still owning a stash of Bitcoin that has not been liquidated, Elon Musk believes that “fiat currencies” (historical enemies of crypto) are actually not so bad.

His philosophy is that if a government does not abuse the privileges of printing new currency, fiat currencies serve the purpose for which they were created, namely as a medium of exchange for the trade of goods and services.

Elon Musk, before distancing himself from the world of cryptocurrencies, had already stated a few months ago that he had no intentions of issuing any cryptographic tokens through his companies.

Despite being disappointing for crypto supporters to hear what the billionaire thinks about this niche of finance at the moment, we can still hope that he will change his mind in the future.

After all, he himself is the most contradictory man in the world, capable of changing his own train of thought from one moment to the next.

In this regard, who knows if in the future it will return to accepting Bitcoin and other cryptocurrencies as a means of payment for the goods it trades, as anticipated by an old testimony in which it was stated that it would consider this option if the mining of the first cryptographic currency became environmentally sustainable by at least 50%.

The latest extravagant events of the Twitter and Tesla boss

Among Elon Musk’s latest extravagant events, outside the context of cryptocurrencies, we find the dispute with the CEO of Walt Disney, Bob Iger, and with other prominent members in the field of US multinational companies.

The feud seems to have started about a month ago when Elon Musk was made aware that the content supported by his social media platform X implied unethical themes such as antisemitism and the exploitation of minors.

In his response, the billionaire clarified that in a democratic society, freedom of speech must be fully respected, even to the extent of having to support very “provocative” content.

Many companies like Walt Disney have threatened to remove their advertisements on X if Elon did not take action.

The billionaire’s response was emblematic, reflecting his entire style.

These were his words during a recent interview hosted by the New York Times:

“Do you want to threaten me with advertising? Do you want to threaten me with money? Go fuck yourselves.”

Elon Musk’s heavy words have unleashed a shitstorm against Disney and other supporters of the “goodism” on social content.

Many X users have started publicly insulting Bob Iger, calling for the dismissal of the film company executive, even pushing the company to backtrack on its own philosophy of thought. 

After being told off by Musk, Disney clarified that in the future it should focus much less on “politically correct” propaganda, instead giving more space to creativity and imagination.

After the news, many Tesla customers reported that the shortcut to access the Disney+ application was no longer available in their cars.

It is not yet official that the app has been removed due to the recent clashes between Musk and Iger, but this seems to be the most plausible hypothesis.