Tesla’s CEO Elon Musk thinks that “only a fool” would ignore any other form of alternative investment opportunities as real interest rates trending negative. On February 19, the Tesla CEO responded to some comments that were made by Binance CEO Changpeng Zhao to Bloomberg.
Zhao expressed his surprise at the Tesla executive’s ‘gung-ho’ pronouncements about Dogecoin. The hypothetical Dogecoin (DOGE) CEO has asserted that “only a fool” would not look for alternative investments to fiat currency considering the current interest rates on Twitter currently.
In the interview, Zhao implied that Tesla’s recent decision to invest up to 7.7% of its treasury into bitcoin indicates that Musk supports the crypto deeply. On Twitter, Musk stated:
“Tesla’s action is not directly reflective of my opinion. Having some Bitcoin, which is simply a less dumb form of liquidity than cash, is adventurous enough for an S&P500 company.”
In response to the insinuation from Musk that he considers DOGE better than BTC, Blockstream CSO Samson Mow mentioned:
“You’re just sad you didn’t buy sooner.”
Nevertheless, Musk also claimed that it would be quite foolish not to seek out alternative investments while “fiat currency has negative real interest”:
“When fiat currency has negative real interest, only a fool wouldn’t look elsewhere. Bitcoin is almost as bs as fiat money. The keyword is ‘almost.’”
Elon Musk’s Twitter account is believed to be the main catalyst for DOGE’s massive recovery from the r/Wallstreetbets-led pump and dump that affected the meme-coin at the end of January. The richest man in the world described DOGE as “the people’s crypto.”
Nevertheless, Musk tweeted on February 15 to warn of the massive concentration of DOGE’s supply within the hands of a few whales, offering to pay the top DOGE holders to void their accounts.
